Project strategy: the key to project success

Abstract

This paper introduces and defines the concept of project strategy. Nike's "just do it" is the prevailing attitude around projects. Schedule and budget dominate the measures of project success. To take advantage of opportunities, projects must be more than just tactical or operational. Building market share, extending product lines, increasing revenue, satisfying customers, and building for the future are more important, measures of project success. Projects should be an active element in implementation of a company's strategic intent, achieve better results, and increase the company's competitive advantage or value. Project strategy focuses the project on the desired strategic results. It is an overachieving set of guidelines to be used by the project in making decisions and taking action in alignment with corporate, business, marketing, and operational strategies. Existing frameworks and model offer insight in defining project strategy.