Aligning Strategic and Project Measurement Systems

Strategic Alignment of the corporate strategy and the project management system Alignment of strategic and project management systems is essential for economic survival and growth. The corporate vision has to include the needs of customers and stakeholders while promoting internal learning and innovation. An effective strategic management system offers many benefits: o Development of a learning environment for process improvement o Effective use of resources and assets o Focus on areas critical for financial success o Opportunities for innovation and technological advances o A mechanism for corporate buy-in and commitment that promotes personal interaction and negotiation at all levels. o The ability to assess corporate, business unit, and technological trends o Analysis of market potential and competitive domain Corporate executives have to formulate and communicate a clear and realistic strategy. To achieve the strategy a clear measurement system has to be created and implemented so that the success can be measured. The project management has to be aligned with the corporate strategy. That makes sure that the projects deliver the right results and increase the corporate value.