Importance of project in strategy implementation process
DOI:
https://doi.org/10.37886/Keywords:
strategic management, project management, strategy implementation process, strategic importance of projectsAbstract
Research Question (RQ): What is strategic importance of projects in strategy implementation process?
Purpose: The purpose of this research was to examine strategic importance of project and link between projects and strategy implementation process.
Method: We made qualitative research, namely the systematic study of a scientific literature. A systematic literature review show us gaps that are suitable for further research.
Results: Systematic literature review show us importance of further research in the area under consideration. We answered on the research question: What is the strategic importance of the projects in the strategy implementation process? We found out that projects are important in strategy implementation process.
Organization: Research is useful both, for future researches as well as practice. It is impossible to find research that relates to the link between projects and strategy implementation process. Research show us the importance of synergy between strategic and project management for effective and successful implementation of strategies.
Society: In the article, we were expose the importance of synergy (cooperation and teamwork in the company) in decision-making process. We see the importance of synergy both at the level of the company and the entire society (their needs, desires and expectations) also. Company have to be in tune with its environment; internal (e.g. employees) and external (e.g. buyers, suppliers), because environment (external and internal) have impact on strategy implementation process.
Originality: We found a number of studies in the field of strategy implementation process and, on the other hand, a number of studies related to the importance of projects. However, we did not find any research that considers cross-section and importance of synergy between project and strategy implementation process.
Limitations / further research: We restricted ourselves on researches that has already been made in the field of strategy implementation process and project and on qualitative research methods. In the future, we propose a quantitative survey to show the coherence or discrepancy between theory and practice.
References
Aldrich, H. E. (1979). Organisations and Environments. Englewood Cliffs: Prentice Hall.
Amason, A.C., (2011). Strategic Management: From Theory to Practice, First ed. London: Routledge.
Archer, N.P. in Ghasemzadeh, F. (1999). An integrated framework for project portfolio selection. International Journal of Project Management, 17(4), 207–16.
Andersen, E. S. in Jessen, S. A. (2003). Project maturity in organisations. International Journal of Project Management, 21, 457–461
Andrews, K. R. (1996). The Concept of Corporate Strategy. V Mintzberg, H. in drugi: The Strategy Process: Concepts, Contexts, Cases (str. 47–55). New Jersey: Prentice Hall.
Aubry M., Hobbs, B. in Thuillier, D. (2008). A new framework for understanding organisational project management through the PMO. International Journal of Project Management, 25, 328–336.
Backlund, F., Chroneer, D. in Sundqvist, E. (2014). Project Management Maturity Models – A Critical Review. A case study within Swedish engineering and construction organizations. Procedia – Social and Behavioral Sciences, 119, 837 – 846.
Cleland, D. I. (1990). Project Management – Strategic Design and Implementation. New York: McGraw-Hill.
Cleland, D. I. in Ireland, L. R. (2002). Project Management – Strategic Design and Implementation (4. izdaja). New York: McGraw-Hill.
Cooke-Davies, T.J in Arzymanow, A. (2003). The maturity of project management in different industries: An investigation into variations between project management models. International Journal of Project Management, 21, 471–478.
Cooke-Davies, T. J., Crawford, L. H. in Lechler, T. G. (2009). Project management systems: moving project management from an operational to a strategic discipline. Project Management Journal, 40(1), 110–123.
Cooper, G.R., Edgett, J.S in Kleinschmidt, J.E. (2001) Portfolio Management for New Product Development: Results of an Industry. Industrial Research Institute, 31(4).
Drucker, P. F. (1999). Management challenges for the 21st century. Oxford: Elsevier Butterworth-Heinemann.
Duffy, J. (2001). Maturity models – blueprints for e-volution. Strategy & Leadersh., 29(6), 19–26.
Duh, M. (2015). Upravljanje podjetja in strateški management. Ljubljana: IUS Software, GV Založba.
Duh, M. in Štrukelj, T. (2011). Integration and Requisite Holism of the Enterprises' Governance and Management as Precondition for Coping with Global Environmental Changes. Acta Polytechnica Hungarica, 8(1), 41–60.
Duncan, R. B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly, 17(3), 313–327.
Gebauer, H. (2008). Identifying service strategies in product manufacturing companies by exploring environment–strategy configurations. Industrial Marketing Management, 37, 278–291.
Grant, R. M. (2003). Strategic planning in a turbulent environment: Evidence from the oil majors. Strategic Management Journal, 24(6), 491–517.
Gray, C. F. in Larson, E. W. (2006). Project Management: The managerial Process. International Edition 2006. New York: McGraw-Hill/Irwin.
Görög, M. (2016). A broader approach to organisational project management maturity assessment. International Journal of Project Management, 34(8), 1658–1669.
Hauc, A. (2002). Projektni management. Ljubljana: GV založba.
Hauc, A. (2007). Projektni management. Ljubljana : GV Založba.
Hyväri, I. (2015). Roles of top management and organizational project manangement in the effective company strategy implementation. Procedia – Social and Behavioral Sciences, 226, 108-115.
Kaplan, R. S. and Norton D. P. (2001). The strategy-focused organization: how balanced scorecard companies thrive in the new business environment. Harvard Business School Publishing Corporation.
Keil, S., Reibstein D., in Wittink D. (2001). The impact of business objectives and the time horizon of performance evaluation on pricing behavior. International Journal of Research in Marketing, 18.
Kerzner, H. (2005). Using the Project Management Maturity Model, (2 izdaja). New York: Wiley, Hoboken.
Kelley, D. J. in Rice, M. P. (2002). Leveraging the value of proprietary technologies. Journal of Small Business Management, 40(1), 1–16.
Lee, S. in drugi (2008). Applying technology road-maps in project selection and planning. International Journal of Quality & Reliability Management. 25(1), 39–51.
Lerner, J. (1997). An empirical exploration of a technology race. Journal of Economics, 28, 228–47.
Leybourne, S. (2007). The changing bias of project management research: a consideration of the literatures and an application of extant theory. Project Management Journal, 38(1), 61–73.
Levine, H. A. (2002). Practical Project Management: Tips, Tactics, and Tools. New York: John Wiley & Sons, Inc.
Levine, H.A. (2005). Project Portfolio Management: A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits, (1. Izdaja). San Francisco: Jossey-Bass.
McLeod, L., Doolin, B. in MacDonell, S.G (2012). A perspective-based understanding of project success. Project Management Journal, 43/5, str. 68–86.
PMI (2000). A Guide to the Project Management Body of Knowledge (PMBOK® guide). Newtown Square: Project Management Institute.
PMI (2008). A Guide to the Project Management Body of Knowledge (PMBOK® guide). Newtown Square: Project Management Institute.
Pučko, D. (2008). Strateški management 1. Ljubljana: Ekonomska fakulteta.
Radomska, J. (2014). Operational risk associated with the strategy implementation. Management 2014, 18(2), 31–43.
Rajasekar, J. (2014). Factors affecting Effective Strategy implementation in a Service Industry: a Study of Electricity Distribution Companies in the Sultanate of Oman. International Journal of Business and Social Science, 9(1), 169–183.
Raymond, Y. in Grant, J. (2015). Is strategy implemented by project? Disturbing evidence in the State of NSW. International Journal of Project Management, 33, 15–28.
Sedovnik, M. (2003). Izvajanje strateškega plana s projekti (doktorska disertacija). Ljubljana: Ekonomska fakulteta.
Serra, C. E. M. in Kunc, M. (2014). Benefits Realisation Management and its influence on project success and on the execution of business strategies. International Jurnal of Project Management, 33, 53–66.
Thiry, M., (2002). Combining value and project management into an effective programme management model. International Journal of Project Management, 20, 221–227.
Türkaya, 0., Solmaz, S. A. in Engül, S. (2011). Strategic Analysis of the External Environment and the Importance of the Information: Research on Perceptions of Hotel Managers. Procedia Social and Behavioral Sciences, 24, 1060–1069.
Vadastreanu, A. M., Miaer, D. in Maier, A. (2015). Is the success in compliance with ethics and deontology in business? 4. World Conference on Business, Economics and Management, Economics and Finance, 26, 1068–1073.
Vrečko, I. (2011). Obvladovanje strateških kriz z uporabo projektnega menedžmenta kot celovit invencijsko-inovacijski proces (doktorska disertacija). Maribor: Ekonomsko-poslovna fakulteta Maribor.
Wong, W. Y., Yeoh K. P. in Yap S. G. (2016). A Case Study Assessment of Project Management Maturity Level in the Malaysia’s IT Industry. Proceedings of the 2016 International Conference on Industrial Engineering and Operations Management, Kuala Lumpur, Malaysia, 361–371.
Yaprak, A., Xu, S. in Cavusgil, E. (2011). Effective Global Strategy Implementation: Structural and Process Choices Facilitating Global. Management International Review, 51(2), 179–192.
Zeps, A. in Ribickis, L. (2015). Strategy development and implementation – proces and factors influencing the result: Case study of Litvian organizations. V ICEM 2015, Proceedings of the 20th International Scientific Conference Economics and Management.