PMcrunch

Marketing projects are important to companies, simply because they provide the opportunity to increase the top line of the business. That is, they are initiatives focused on driving revenue, as opposed to controlling costs. I have been thinking about three keys for how to lay out the requirements for such such revenue-enhancing marketing projects.

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Most of the focus of individuals in the project management profession is on improving their own ability and that of others to execute well on projects. Typically, we are able to measure our progress in that regard by measuring performance and results on these projects. There is a process called “projectization” that refers to the general capability of people and organizations at large to manage projects effectively and predictably. Let’s take a look at how this is done at an organizational level.

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Projects need to be aligned in some way with corporate strategy . The challenge for project managers is being on top of what that corporate strategy is, in an intimate way, and understanding clearly how their project aligns with that corporate strategy. In this post, I am thinking about the ideal that corporate strategy is not etched in stone. It changes overtime and we must be aware of just what is going on with the dynamics of our organizations strategy.

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Six Sigma projects are derived from organizational strategy, in the same way that organizational strategy drives the selection of all projects and programs in an organization’s Portfolio. So, how do the business drivers that are at work result in some projects being Six Sigma projects, and others not?

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Project Portfolio Management, like Investment Portfolio Management, is a balancing act that requires constant monitoring and adjustment over time. Whereas an individual may have the right balance of risk, return, income, growth and others represented in an investment portfolio, a project portfolio is similar in many ways. Risks, returns, resources required, and alignment with overall strategy are just a few of the factors that must be kept in balance over time.

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You are new to a project. The project itself is new, or perhaps you have been handed an initial project. The project charter is a great place to start to get yourself oriented to where the project fits into the organization.

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Business or organizational strategy is intended to drive all decisions within an organization. It provides a direction, a rallying point, and a litmus test for decisions at all levels. Hence, it only stands to reason that strategy would drive the project portfolio management process.

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Project Management tends to come onto the scene after the strategic direction has been set. Projects arise out of organizational strategy and reside on the implementation side of things. Project Portfolio Management exists somewhere in between, at the connection between the strategy formulation and implementation of the actual projects. the challenge is that there can be disconnects at the transitions among these phases.

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Enterprise Architecture ( EA ), Organizational Strategy, and Project Portfolio Management (PPM) are closely related.  The question is, “How are they related on a very practical level?”  Let’s take a look.

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A great question that we can ask ourselves as project managers is, “Would we invest in our projects”? This is probably the single best indicator, if we are honest with ourselves, as to the health of our projects, our positions, our teams, our organizations and more. Here is a look at an investment perspective to managing projects.

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