Strategic management involves the formulation and implementation of the major objectives and initiatives taken by the project manager on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the project operates. Let us discuss the impact of strategic management on project accomplishment.
The major impact of strategic management is that it allows an objective assessment. It provides a control that allows the project manager to know what they want to achieve, the end result of the project. This will help to avoid the cascade risking where by the project manager realized that he had made a mistake and to rectify the mistake he had to demolish the building and start afresh. Resources, energy used and time will be lost. Rectifying the mistakes delays the progress. When planning for a project it is important to have a time frame set in accomplishing the project and if that time frame is not met it can be regarded as a project failure.
The original objectives are properly observed to avoid the loss of money. If there are mistakes that have been noticed, there will be need to demolish the building this will burden the owner’s pocket. The owner before starting the project he or she has a budget based on the estimated cost that has been prepared by the project planners. Hence strategic management will help in avoiding the loss of money.
Strategic implementation is a dynamic process, the environment may change so through the good project planner he will be able to strategies the plans that will lead to the success of the project. The project manager will be looking for the threats that might lead to the failure of the project and strategies the opportunities and strengths that will lead to the success of the project
Through strategic management the project manager is able to access the resources that are already available. The project manager must be able to utilize the resources that are already available this will help him to be able to accomplish the goal of the project without compromising some important objectives.
Without using strategic management, your decision-making can be reactionary, which can lead to costly mistakes. These might include project managers making decisions that aren’t in line with the goals, money being spent on unnecessary expenses and clients having different experiences each time they interact with the project manager. Build predictable patterns through strategic management because they’re better for clients.
Essentially, one can say strategic management has a lot of impact in the success of the project because it circumvents the risks that might occur.
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