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Recently, a number of the world's leading project management organisations have taken important initiatives to illuminate executive management in regards to the strategic importance and benefits of project management. The focus is to move from individual project management to organisational project management, which these firms keep is a strategic advantage in a competitive economy.

In this article, Ed Naughton, Director-general of the Institute of Project Management and current IPMA Vice President, requires Professor Sebastian Green, Dean of the Faculty of Commerce and Professor of Management and Marketing at University College Cork (previously of the London Business School), about his views of strategic project management as a vehicle for competitive advantage.

Ed: What do you point ideal Project Management is?

Prof. Identify further about law.ox.ac.uk/people/chris-brummer by browsing our refreshing web resource. Green: Strategic project management may be the management of these projects that are of crucial importance to enable the enterprise as a whole to have competitive advantage.

Ed: And what defines a competitive advantage, then?

Prof. Green: You will find three characteristics of experiencing a core competence. The three qualities are: it gives value to customers; it is perhaps not simply imitated; it opens up new opportunities in the future.

Ed: But how can challenge administration produce a competitive advantage?

Prof. Green: There are two elements to project management. One factor is the actual collection of the type of projects that the business partcipates in, and subsequently there's execution, the way the projects themselves are managed.

Ed: Competitive advantage - the value of selecting the projects - it's not easy to define which projects must be chosen!

Prof. Green: I think that the choice and prioritisation of projects is something that's not been done well within the project management literature because it is essentially been assumed away through reducing it to economic analysis. The strategic imperative gives a different way to you of prioritising projects because it is saying that some projects may not be as successful as others, but when they add to our experience relative to others, then that's going to be important.

So, to take an illustration, if a company's competitive advantage is introducing new products more quickly than others, pharmaceuticals, let's say, finding product to market more quickly, then your projects that allow it to acquire the product more quickly to market are going to be the most significant ones, even if in their own terms, they don't have higher profitability than some other projects.

Ed: But when we are going to select our projects, we have to establish what're the parameters or measurements we are going to select them against that give us the competitive advantage.

Prof. This stylish company web site website has various unique aids for how to study this belief. Green: Completely. The enterprise needs to know which actions it's employed in, which are the critical ones for it then and competitive advantage, that drives the selection of projects. Organisations aren't great at doing that and they could not even know what these activities are. They will think it is anything they do because of the energy system.

Ed: If an organization formulates its strategy, then what the project management group says is that project management is the medium for providing that strategy. Then, if the business is great at doing project management, does it have any strategic advantage?

Prof. Green: Well, I suppose that returns to this issue of the difference between the type of projects that are opted for and the way you manage the projects. Obviously selecting the type of projects depends on having the ability to link and prioritise projects according to an understanding of what the ability of a business is relative to others.

Ed: Let's assume the strategy is set. To be able to produce the strategy, it has to be separated, decomposed into a series of jobs. Thus, you must be proficient at doing project management to provide the strategy. Today, the literature says that for a company to become proficient at doing projects it has to: devote project management procedures, train people on how to apply/do project management and co-ordinate the efforts of the people qualified to work to procedures in and integrated way using the notion of a project office. Does getting those three steps produce a competitive advantage for this enterprise?

Prof. Green: Where project management, or how you control tasks, becomes a source of competitive advantage is when you can do things better than the others. The 'better-than' is through the ability and judgement and the data that will be accumulated with time of managing projects. There is an experience curve effect here. Two companies will be at various points in the experience curve regarding information they have built-up where the rule book is limited to control those bits of tasks. You'll need knowledge and management thinking since however good the rule book is, it'll never deal fully with the complexity of life. You've to manage down the ability curve, you've to manage the understanding and learning that you've of these three facets of project management for it to become ideal.

Ed: Well, then, I do believe there's a niche there that's to be resolved as well, in that we've now developed a competency at doing project management to do projects, but we have not aimed that competency to the selection of projects which may help us to offer this competitive advantage. Is project management with the capacity of being copied?

Prof. Green: Not the softer aspects and not the devel-opment of tacit understanding of having run many, many projects with time. So, for instance, you, Ed, have significantly more understanding of just how to work projects than others. That's why people stumbled on you, because while you both might have a standard book like the PMBoK or the ICB, you have produced more experiential knowledge around it.

In essence, it may be copied a quantity of the way, but not if you arrange the softer tacit knowledge of knowledge into it.

Ed: Organisational project management maturity styles are a hot topic at the moment and are closely for this 'knowledge curve' effect you mentioned earlier in the day - how should we view them?

Prof. Green: in my opinion in moving beyond painting by quantities, moving beyond the simplistic idea that that is all you need to do and you can enforce this pair of text book protocols and capabilities and procedures and an enterprise is completely plastic. In a way, exactly the same difficulty was experienced by the developers of the ability curve. It's nearly like, for each and every doubling of size, cost reductions occur without you being forced to do something, if you show the knowledge curve to companies on cost. What we realize is however, the experience curve is a potential of the chance. Its' realisation depends on the skill of managers. Dig up supplementary resources on asea utah by browsing our dazzling essay.

Ed: Are senior executives/chief executives in-the mindset to understand the possible advantages of project management?

Prof. Green: Until lately, project management has offered it self in technical terms. Then it would be much more appealing to senior managers, if it was promoted in terms-of the integration at common management, at the ability to manage across the features financing method methods with thinking. So, it is about the knowledge which makes project management so powerful, the strategies with the reasoning and the blending of the difficult and the smooth. If senior managers do not grasp it right now, it is not because they are wrong. It's because project management hasn't marketed it self as efficiently as it should've done.

Ed: Do we need to sell to chief executives and senior executives that it will provide competitive advantage for them?

Prof. Green: No, I do believe we have to show them how it does it. We need to get inside and really show them how they can use it, not merely in terms of delivering tasks on time and within cost. We must show them how they can use it to over come organisational resistance to change, how they can use it to enhance capabilities and actions that lead to competitive advantage, how they can use it to enhance the tacit knowledge in the organisation. There's a whole range of ways they are able to utilize it. They must note that the evidence of the results surpasses just how they are currently doing it..
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