Corporate Strategy: How to align projects with strategy

In the listening you will hear the managing principal of a strategy consulting firm ,  Jay Payette, share his ideas on why and how project managers can play a role in order to align projects with corporate strategy.

If you want to practice “unprepared” listening, then listen to the interview on the link below. If you prefer to reflect on the ideas first, then answer the questions further below. Lastly, you can download Jay Payette’s whitepaper on the subject on the same page as the listening link.

Click to listen here:

Questions / ideas: “align projects with strategy”

1 – “Project managers have a critical role in not only implementing corporate strategy but also helping to formulate it”. Do you agree? How might it be possible for PM to formulate strategy?
2 – How would you define strategic alignment?
3 – What do you think about the 7 S  strategic framework below? (brief explanation from wikipedia):“The model is based on the theory that, for an organization to perform well, these seven elements need to be aligned and mutually reinforcing. So, the model can be used to help identify what needs to be realigned to improve performance, or to maintain alignment (and performance) during other types of change.”

Corporate Strategy

 

 

4 – As business shifted from being driven by physical assets in manufacturing to being driven by intangible assets in the knowledge economy, the balanced scorecard then the strategy map were developed to aid strategic alignment. Do you think it’s a good idea for people on 3 different levels (corporate, departmental, team) to produce their own version of the balanced scorecard below and then align the 3 different versions?

Balanced scorecard:

http://wikireedia.net/wikireedia/images/e/e9/Balanced_scorecard.jpg

 

http://wikireedia.net/wikireedia/images/e/e9/Balanced_scorecard.jpg

 

What about for the strategy map?

Strategy map

generic strategy map 2

picture from Jay Payette’s  “Making it happen” paper.

 

 

5 – Do you believe its possible to develop a home-grown strategic alignment solution from the grassroots up?

 

6 – Another framework presented in the interview is the Theoretical Framework (you can request the author’s paper here) as shown below.  According to this framework, the corporate level sets the strategy, then before each of the four project stages (conceptual, planning, execution, closing), the project manager is required to demonstrate that the following 6 elements are strategically aligned to the overall corporate goals:project…

  • strategy
  • organization
  • processes
  • tools
  • metrics
  • culture

Theoretical Framework

Prior to which stages do you believe some of the above 6 elements mentioned above are less likely to be aligned?

 

 

7 – According to PAyette, if you don’t conversations about strategic alignment, then you are at risk for diverting your resources off to something that is probably of little benefit to your company.

Click to listen here:

 

 

 

 

 

 

 

 

Posted in Business.

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