Project portfolio management and corporate strategy : the solution to allocate resources and align projects toward
Dang Khoa Pham, Hoang (2011)
Dang Khoa Pham, Hoang
Lahden ammattikorkeakoulu
2011
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201105066465
https://urn.fi/URN:NBN:fi:amk-201105066465
Tiivistelmä
Recent industry structural changes and increasing global competitiveness have deeply affected the way corporations manage corporate strategy. Overall success of a corporation now depends on how major projects are aligned in order to acquire synergic benefits based on strategic objectives, not by unarticulated and scattered benefit. This study examines the connection between strategic objective, corporate strategy and project portfolio management in order to make corporate strategy implementation both more effective and efficient. The primary logic suggests that a connection link between corporate strategic objective and project portfolio should be stronger when a corporation encounters challenges in allocating resource and aligning projects for synergy value.
Earlier studies have shown evidences of possible relationship between these concepts; however there is currently no articulated theory about project portfolio management as a solution for effective corporate strategy implementation. This study will bring up the reason why certain major projects were underperformed and incoherently articulated with corporate strategy. It then demonstrates how project portfolio management is a suitable solution in allocating resources and aligning projects with corporate strategic goals.
Based on existing relevant publications, a coherent theory concerning corporate strategic objectives, project portfolio management, project portfolio optimization and strategic objective is developed. The writer’s analysis of the connection between project portfolio management and corporate strategy will emphasize the roles of efficiency and effectiveness in delivering result which is aligned with strategic objectives. Consequently, this theory provides a strategic recommendation for corporations on how to effectively execute project portfolio management in order to achieve their corporate strategic objectives. Additionally, this theory can also be used in future empirical research related to project portfolio management issues.
Earlier studies have shown evidences of possible relationship between these concepts; however there is currently no articulated theory about project portfolio management as a solution for effective corporate strategy implementation. This study will bring up the reason why certain major projects were underperformed and incoherently articulated with corporate strategy. It then demonstrates how project portfolio management is a suitable solution in allocating resources and aligning projects with corporate strategic goals.
Based on existing relevant publications, a coherent theory concerning corporate strategic objectives, project portfolio management, project portfolio optimization and strategic objective is developed. The writer’s analysis of the connection between project portfolio management and corporate strategy will emphasize the roles of efficiency and effectiveness in delivering result which is aligned with strategic objectives. Consequently, this theory provides a strategic recommendation for corporations on how to effectively execute project portfolio management in order to achieve their corporate strategic objectives. Additionally, this theory can also be used in future empirical research related to project portfolio management issues.