How has project management become a factor in setting and managing strategic objectives?
Let’s look at an eight step strategic management process that was taken from the book called Management, by Stephen P. Robbins and Mary Coutler, Sixth Edition, 1999. • Identify the organization’s current mission, objectives, and strategies • Analyze the environment • Identity the opportunities and threats • Analyze the organization’s resources • Identify strength and weaknesses • Formulate strategies • Implement strategies • Evaluate results Many of the above steps will and can utilize the best practices of project management to accomplish them. Of the nine knowledge areas within the PMBOK, the area of risk management addresses the issues of step 3 and 5. We evaluate the risk of the organization to determine the opportunities, threats, strengths and weakness of the organization. A risk management technique of SWOT analysis (Strengths Weakness Opportunities and Threats) can assist the planners in these phases of the strategic planning process. Clearly the PMBOK® knowledge area of Human
