The importance of aligning your projects to company strategy
Posted on 23rd August 2018 at 08:24
Everyone would agree that unless something brings a benefit to a company it’s not really worth doing. Unfortunately, this philosophy is not always observed, especially when it comes to projects. Projects need to be aligned with your company strategy otherwise they are a waste of time and money. Here’s why.
Projects are the methods through which company strategy is implemented. It is therefore important that they align 100 percent with the strategy. Always ask “Will the execution of this project support the company’s aims and objectives?”
When the goals of a project align with the business strategy of the organisation, the project will most likely yield substantial advantages for the company. It is therefore of utmost importance to align any project with company strategy right at the beginning.
Especially in larger organisation there is a danger that the strategy that is decided by the board of directors differs greatly from the strategy that is actually executed. If one project after another goes off strategy the company will end up going in a very different direction from where it intended to go.
This can have many reasons. It starts with strategies not being communicated effectively throughout the company. Projects are started in good faith that they are for the benefit of the company but if the strategy has changed in the meantime, these projects can do more harm than good.
Strategic alignment throughout the project life cycle
The whole project team needs to understand the strategy the project is supporting so that it can be aligned perfectly. Should strategy change throughout the life cycle of the project, communication needs to stay effective. This ensures that the project can be adjusted so that it can still support company strategy. In addition to delivering any project on time and within budget, it is therefore important that the alignment to strategy is also a major factor to be considered.
If a project audit reveals that the project no longer supports strategy, this could be because the project is following a different course or the company strategy has changed. In any case, a decision has to be made whether the project can be adjusted so that it comes back in line with strategy. If that is not an option, it needs to be abandoned.
There is no point in completing a project that does not serve company strategy from the moment implementation has finished. This would only mean throwing good money after bad and wasting time on a project that does nothing to support company strategy. As with any task, there is no point in doing something if it doesn’t add value.
How Green Giant Consulting can help
Green Giant Consulting Ltd offer a Project Review service where we can come in for a fixed period (normally two weeks) to perform a health check on your portfolio of projects. At the end of the exercise you will be presented with a report showing all the projects, their current status including spend to date, projected spend to complete, benefits and alignment to your strategy. It will also detail any recommendations to ensure the portfolio is working in the best way for your organisation.
If you believe that your portfolio of projects aren't delivering what you need and you want some unbiased advice then contact Green Giant Consulting today on 0844 259 6210 or visit our Contact page to book your free initial 2-hour consultation to talk through your challenges.
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