Managing Strategic Initiatives

Companies develop strategies that need implementing. Typically a project is defined, a budget approved, a project manager appointed, resources are assigned and the project kicked off and over time the project is implemented. When the project is completed or well advanced it becomes clear that the intended business benefits are not being realised, or the project is over budget or behind schedule, or the business has changed, or for some other reason the real value of the project is not what was expected or is now needed.

MSI (Managing Strategic Initiatives) Framework

Stratege and its business partners offer thought leadership in the implementation of strategic initiatives using the MSI Framework. The MSI Framework, using a holistic approach, is a leadership support system that delivers the necessary business models and business management infrastructure to implement change initiatives in support of strategic change. Included in the Framework are Portfolio, Program and Project Management, together with Governance and Support Office information, tools and processes.

Stratege and its business partners uniquely offer consulting and process management services that can be tailored for your organisation to achieve strategic impact.

What does Program Management do for me?

Program management is strategic and business based ownership of initiatives/programs that enable realistion of business value. Project Management is not enough to do this, witness the many well-publicised strategic project failures. Program Management is a business management capability that cannot be undertaken effectively using project management thinking and techniques.

What does Portfolio Management do for me?

Portfolio Management is the process that enables the right programs to be selected and reviewed to realise strategy and business goals, taking into account financial and people resource availability. It is about optimising the investment in change initiatives and subordinating program and project approval to business strategy rather than departmental objectives. Portfolio Management ensures you are running the right programs and manages the multiple project muddle and project resource contention that is so common in large organisations.

What's the difference between initiatives, programs and projects?

Strategic initiatives and programs are essentially the same, they are groupings of activities, projects and tasks that collectively enable the implementation of a strategy or securement of a strategic outcome. Projects are a series of planned activities with clearly defined start and end points and clearly defined deliverables. Programs are appropriate when goals and means are still being clarified and sense is being made of what is needed and how to get there. Projects are launched within programs once 'islands of order' emerge in the sense-making stream for what needs to happen next. Programs are about business management, projects are about technical management of delivery.

How can Stratege help?

Stratege can provide you with expert guidance and help you implement Program & Portfolio Management, or arrange a tailored service to provide you with the right environment, support and governance:

Read this !! Download 'A Systems Framework for Complex Projects' for background thinking.

If none of the above quite suit, or to find out more, give Richard Stoneham a call

Project Management is not enough, you need Program and Portfolio Management.
Implement a strategic initiatives framework to secure business value!

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