February 23, 2020

Aligning Strategy and the Project Portfolio

Adrian King

Adrian King
Snr Technology Program Manager/Pearson Publishing (via TEKsystems)

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(First in a series.)

Once a strategy is developed, it will need to be implemented / executed throughout the year. How this is achieved will depend on the nature of the strategy - and in particular how tangible objectives or goals are expressed in the strategy.

For example, I have seen some strategies that are simply an expression of growth year in year. “We achieved $XXm last year, the economy is growing at y% per year so we are setting a revenue target of $ZZm.”

Projects would be then be established to achieve specific revenue increase targets - and other projects would be established to achieve other numeric targets (e.g. EBITDA, cost reduction, simplification such as supplier reduction).

Typically an approach such as Balanced Scorecard would be used to bring the tangible objectives together into a single framework for measurement.

Essentially, this is a metrics based approach to developing the strategy, so a metrics based approach would be needed for the projects - success would be measured purely by the tangible impact on the balanced scorecard metrics (or similar approach) .

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