Primary Author: Melissa Pruneau
Co-Author(s): H. Lance Stephenson, CCP FAACE
Audience Focus: Advanced
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: Organizations can inadvertently introduce complexity and inefficiencies into the design and operability of their assets by not linking corporate strategy to project delivery. This approach eliminates the strategic relationship between projects, which cripples the attempt of effectively managing capital investment. Too many times, organizations execute a cluster of projects without foresight into how these projects will support the corporate initiative and overall health of the company. Therefore, there is a need for organizations and practitioners to ensure the effective use of capital dollars in order to achieve a competitive advantage when delivering their projects and portfolios. Organizations need to improve strategic decision making in order to mitigate enterprise risk and provide the effective and efficient use of enterprise resources, which include human resources and cash management. This paper will identify the key requirements for establishing a leading position in strategic portfolio management and execution, and provide the audience with an understanding of the link between corporate business strategy, portfolio governance and the delivery of a single project within the portfolio.
Co-Author(s): H. Lance Stephenson, CCP FAACE
Audience Focus: Advanced
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: Organizations can inadvertently introduce complexity and inefficiencies into the design and operability of their assets by not linking corporate strategy to project delivery. This approach eliminates the strategic relationship between projects, which cripples the attempt of effectively managing capital investment. Too many times, organizations execute a cluster of projects without foresight into how these projects will support the corporate initiative and overall health of the company. Therefore, there is a need for organizations and practitioners to ensure the effective use of capital dollars in order to achieve a competitive advantage when delivering their projects and portfolios. Organizations need to improve strategic decision making in order to mitigate enterprise risk and provide the effective and efficient use of enterprise resources, which include human resources and cash management. This paper will identify the key requirements for establishing a leading position in strategic portfolio management and execution, and provide the audience with an understanding of the link between corporate business strategy, portfolio governance and the delivery of a single project within the portfolio.