Introduction
This course aims to provide participants with the principles and methodologies of strategic project management. This includes realizing how crucial it is to match project and company objectives. Participants in this interactive course will learn all the critical tools and skills required to develop an effective project strategy.
Goals
Participants will learn:
- Developing strategic objectives.
- Aligning projects with strategy.
- Evaluating projects.
- Establish project strategy.
- Developing strategies for stakeholders.
- Developing metrics and KPIs for projects.
TRAINING OBJECTIVES
- Define organizational strategy and explain how projects are elements of executing the strategy.
- Identify different techniques to analyze internal and external environmental factors and develop appropriate strategies accordingly.
- Evaluate projects and initiatives using financial and non-financial models and apply ranking and prioritization techniques to select the correct set of projects.
- Determine the components of project strategy, including project vision and objectives, and choose the most effective project methodology.
- Develop and use the right project metrics and KPIs that support the overall strategic objectives.
Training Methodology
This course relies on individual and group exercises aimed at helping participants learn all essential strategic project management activities. The course also relies on using several case studies and presentations by participants, followed by discussions. In addition, this course incorporates pre- and post-testing.
Target Groups
Project managers and leaders at all levels who seek knowledge of developing strategies for managing an organization’s projects. The course is also designed to align projects with the overall organizational strategy.
Program Content
Overview of Strategic Project Management
- Defining strategy.
- Strategy and Projects.
- Defining project success.
- Strategic versus traditional project management.
- Benefits of strategic project management.
Strategic Framework
- Strategic analysis and development.
- SWOT analysis.
- Open strategy.
- Strategic goals and objectives.
- Linking projects to goals and objectives.
Evaluating and Selecting Projects
- Non-financial models.
- Financial models:
- Net Present Value (NPV).
- Internal Rate of Return (IRR).
- Selecting the right project.
- Ranking and prioritization analysis.
- Developing a strategic roadmap.
Project Strategy
- Establishing a project vision.
- Alignment techniques.
- Choosing a project methodology.
- Assessing complexity: The Stacey Complexity Model.
- Developing a high-level risk plan.
Metrics and Key Performance Indicators (KPIs)
- Defining KPIs.
- Popular strategic project metrics.
- Defining criteria for project KPIs.
- Dashboards and scorecards.
- Measuring outcomes and making decisions.
