reading material wk 3 assignment.pdf

The results are dramatic large and complicated

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The results are dramatic large and complicated projects are getting the attention and resources and are hitting our strategic target of on time, on budget and on target regularly. Our successes have positioned D. D. Williamson to continue to do what we do best serve customers effectively, grow our business, and return strong financial results to ensure a solid future for the business. Elaine Gravatte, Chief People Officer and North American President, D. D. Williamson Selecting & Initiating Charter Kick-off Project result Planning Executing Closing & Realizing P M B O K ® G U I D E T O P I C S Portfolio management Program management Projects and strategic planning Source selection criteria Project statement of work Business case 27
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2.1 Strategic Planning Process One of the tasks of a company s senior leadership is to set the firm s strategic direction. Some of this direction setting occurs when an organization is young or is being re- vamped, but some needs to occur repeatedly. Exhibit 2.1 depicts the steps in strategic planning and how portfolio management should be an integral part. Strategic Analysis The first part of setting strategic direction is to analyze both the external and internal environments and determine how they will enhance or limit the organization s ability to perform. This strategic analysis is often called strengths, weaknesses, opportunities, and threats (SWOT). The internal analysis (elements within the project team s control) consists of asking what strengths and weaknesses the organization possesses in itself. The external analysis (elements over which the project team has little or no control) consists of asking what opportunities and threats are posed by competitors, suppliers, customers, regulatory agencies, technologies, and so on. The leaders of an organization often need to be humble and open to ideas that are unpleasant when conducting this analysis. Per- formed correctly, a strategic analysis can be very illuminating and can suggest direction for an organization. An example of SWOT analysis for the Built Green Home at Sunca- dia is shown in Exhibit 2.2. (The Built Green Home at Suncadia, Washington, was devel- oped using advanced sustainability concepts and a large degree of stakeholder involvement. A more detailed description of this house appears in Chapter 5.) Guiding Principles Once the SWOT analysis is complete, the organization s leadership should establish guiding principles such as the vision and mission. Some organizations break this step into more parts by adding separate statements concerning purpose and/or values. Often, EXHIBIT 2.1 STRATEGIC PLANNING AND PORTFOLIO ALIGNMENT Flow-Down Objectives Strategic Objectives Strategic Analysis Guiding Principles: Vision & Mission Portfolio Alignment 28 Part 1 Organizing Projects
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these sections are included in the mission. For simplicity s sake, they will be treated as part of the mission in this book. It is more important to understand the intent of each
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