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Strategy and projects

Strategy and projects

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Published by fakhro

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Published by: fakhro on May 29, 2008
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06/16/2009

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Strategy & Projects
A Benchmark of Current Best Practices
H
IGH
-
PERFORMING
 
ORGANIZATIONS
integrate strategy execution, portfolio,program, project, and performance management best practicesmore than other organizations. Conversely, low-performingorganizations consistently underutilize these best practices. Theseconclusions are among the results of a survey of eighty-four projectmanagement practitioners by the Center for Business Practices, theresearch arm of the consulting and training organization, PM Solutions.The CBP surveyed senior practitioners with knowledge of theirorganizations’ management practices and business results. The survey,
Strategy & Projects: A Benchmark of Current Best Practices,
wasdesigned to determine the extent to which the effective use of strategyexecution, portfolio, program, project, and performance managementbest practices leads to organizational success.The CBP identified those practices that lead to highperformance through a comprehensive search of the literature onstrategy execution, portfolio, program, project and performancemanagement. The research revealed a set of best practices that werecategorized into the following components:• Governance• Strategy Management Processes• Project Portfolio Management Processes• Program/Project Management Processes• Structure• Information Technology• People• CultureThe survey asked the respondents to what extent forty-eightspecific practices were exhibited in their organizations. They were alsoasked how well their projects performed, based on eight measures of performance, including strategy execution performance, shareholdersatisfaction, organizational financial performance, strategic alignment,project schedule/budget performance, project customer satisfaction,resource allocation, and project portfolio performance.High-performing organizations were compared to low-performing organizations as well as the overall average to determinewhether or not the practices are, indeed “best practices” and if thereare any differences in the extent to which organizations use strategy &projects best practices.
Center forBusiness Practices
410 Township Line RoadHavertown, PA 19083Tel: 484.450.0100Fax: 610.853.0527E-mail: cbp@pmsolutions.comWeb: www.cbponline.com
CBP
RESEARCH NEWS
 
CBP
RESEARCHREPORTS
Stay on the cutting edge of critical management issues,organizational priorities, andbusiness practice innovations.CBP Research Reports put youin the know.
To purchase the completeresearch report, visitwww.cbponline.comor contact:Center for Business Practices410 Township Line RoadHavertown, PA 19083877-813-5193 (toll free USA)484-450-0100 (outside USA)Price: $95
Best Practices that Set High Performers Apart from the Rest
The following best practices were used significantly more often by high-performing organizations than other organizations. Informationtechnology best practices, in particular, set high performers apart. Thepractices are listed in order of their significance.
IT tools integrate strategy execution management, portfoliomanagement, program/project management, and performancemanagement functions
IT tools are used to develop alternative strategic and project portfolioscenarios
Project management is clearly established and embedded within theorganization’s business management structure
IT tools provide information on the availability of resources
Senior management consistently rewards successful project behaviors
The enterprise project office allows the organization to manage itsentire collection of projects as one or more interrelated portfolios
Program/project performance feedback is used for managing strategyexecution
IT tools provide the capability to monitor and control risks, issues andfinancials across portfolios
Project management is valued throughout the organization
Best Practices Not Performed that Set Low Performers Apartfrom the Rest
The following best practices were significantly more often
not
 
used 
bylow-performing organizations than other organizations. And people bestpractices in particular set low performers apart. The practices are listedin order of their significance.
Project management is clearly established and embedded within theorganization’s business management structure
IT tools provide the capability to monitor and control risks, issues andfinancials across portfolios
Senior management consistently rewards successful project behaviors
Project stakeholders clearly understand the organization’s strategies
Information about strategy and projects flows freely betweenbusiness units facilitating strategy execution
Project management is valued throughout the organization
Enough resources are in place to make the project portfolioachievable
The project management staff is capable of creating, deploying, andmaintaining enterprise, portfolio, program and project strategies
Performance management reviews are structured to reward or correctindividual performance based on the employee’s contribution tostrategic objectives
Strategy & Projects: A Benchmark of Current Best Practices,
availablefrom the Center for Business Practices (ring bound, 104pp., $95 list),covers forty-eight best practices and shows which practices are mostsignificant in leading to high-performance in organizations.

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