Project State Of Mind
In business, there are a variety of operational tasks happening along with projects. Portfolios, programs along with projects are the perfect vehicles to achieve organizational goals and objectives. For small businesses, that do not have full team support or perhaps entrepreneurs with multiple operations, mastering your Organizational Environment can become your secret sauce to getting it all done. Let’s explore Organizational Environments together as we develop this project state of mind.
Organizational Project Management
What is it?
Organizational Project Management is a strategy execution framework that uses portfolio, program, and project management to achieve goals and objectives within the business. It also includes organizational enabling practices that consistently and predictably deliver an organizational strategy to produce a better performance, improved results, and sustained competitive advantage.
Organizational Project Management (OPM) is defined as a framework in which portfolio, program, and project management are integrated with organizational enablers to strategic objectives. The purpose of OPM is to ensure that the organization undertakes the right projects and appropriately allocates critical resources.
How does it apply to business?
The current business scenario is dynamic, as it is constantly changing. This is because of changing markets, customer needs, and other such factors required to be kept in sync. When change is the constant catalyst, the projects in any organization need to be kept under evaluation as well. To tackle the complexity and nature of different projects while managing day to day operations, this is where Organizational Project Management is shines! Organizational Project Management allows any organization to evolve efficiently.
Organizational Project Management allows a company to manage any changes happening in a company. It also helps in other parts of the organization like communication, manager training, employee training, making the company a way forward, etc.
What benefits does it offer for operational excellence?Operational excellence is defined as a philosophy that combines concepts like leadership, problem-solving, and teamwork that improve the current ongoing activities of the organizations.
In the process of building operational excellence using a project management approach, OPM provides the framework to manage day to day details and work to build for future growth simultaneously. There are 2 major benefits to appreciate here — develops a strategy, and an operating plan with a budget. This is a crucial formula to carry out in business processes using a strategic execution approach.
4 Core Components to Operational Project Management
Strategy:
The strategy in Organizational Project Management is used to define a path used when managing a project that takes a concept to a plan that satisfies the objectives of a given project.
Programs:
Programs are a collection of related projects that achieve a quantitative result. The different sets of projects complement each other to aid the program in getting its overall goals and objectives.
Portfolio:
The term portfolio is in reference to a collection of related and unrelated programs. A portfolio manager reviews the various programs within the portfolio to analyze the potential success of the portfolio’s overall performance. It gives the organizations and managers the ability to see the big picture clearly.
Operations:
Operations in Organization Project Management refers to the approaching daily and strategic business issues in a systematic fashion. Project management deals with the planning, organizing, motivating, and controlling resources to achieve fixed and specific goals. The key difference is a project has an end date and operations are on-going.
There are 2 major angles for an organization to evaluate the success of the business: Business Impact Analysis and Value Performance Analysis.
Business Impact Analysis assesses the relationship benefit from the programs and projects -> portfolio:
Business Impact Analysis is the process of ensuring the criticality of business activities and the associated resource requirements to make sure of operational resilience and continuity of operations in and after a business disruption. In this case, the programs and projects within the portfolio are reviewed and adjusted to make the goals and objectives of the portfolio.
Value Performance Analysis assesses the relationship benefit from the operations -> strategy
Value Performance Analysis is an assessment of achieving and demonstrating the value of an organization through a product, service, and/or solution. This is how businesses and organizations alike demonstrate the impact they are creating. How this is done is through a strategy, an idea, a plan that is carried out.
Leverage the ROI Project Concierge Service Today!
The ROI project concierge service offers you a customized service package designed to meet the needs of your business. We will manage your project and generate results you can take to the bank. You can leverage the ROI Project Concierge to have controlled and measured results as you further your return on investment. We excel in producing regular schedule reports, satisfying stakeholders involved, and compiling legal regulations. Sign up for a strategy session today to inquire if your project is a great fit for this service.
