STRATEGIC PLANNING FOR PROJECT SUCCESS

Prepared By: Malav Mehta

(08BEC159)

Hardik Songara (08BEC169)

OUTLINES
What is Strategic Planning? Why we need to do Strategic Planning? The Generic Process. What Strategic Planning Is Not? Strategic Excellence Positions. Strategic Implementation.

WHAT IS STRATEGIC PLANNING?

A process for determining

Where you are Where you intend to be How youre going to get there

DEFINATION OF STRATEGIC PLANNING?

Strategic Planning is a planning for the fulfillment of the Organizations fundamental purposes. It includes the process of establishing and clarifying purposes, and determining the major means and Pathways (Strategies) through which these objectives will be pursued.

Strategic Planning is the continuous process of making present entrepreneurial (risk-Taking) decisions systematically and with the greatest knowledge of their futurity organizing systematically the efforts needed to carry out these decisions; measuring the results of these decisions against expectations through organized,systematic feedback

WHY WE NEED TO DO STRATEGIC PLANNING?

To control the things you can control and deal with the things you cant Understand your local economy. Evaluate possible approaches. Target your limited resources. Set performance objectives. Tell your board and the public what you are going to do. Manage your career.

THE GENERIC PROCESS

Define current state
Analyze trends

Develop plan

Define future state

Analyze gap

GETTING PREPARED
it a group project invite everyone to participate Make decisions by consensus, not majority rule If possible, get a neutral facilitator Question everything, ASSUME NOTHING be prepared to put yourself out of business As manager, you set the tone be careful about what you say and do, discuss the undiscussable
Make

GETTING PREPARED (CONTINUED)

Look five years out Allow enough time (6 months minimum) Plan series of two-day meetings with several weeks between each session

DEFINING THE CURRENT STATE

Business

definition Customer analysis Competitor analysis Strengths/weaknesses/opportunities/threats (SWOT) analysis

ANALYZE TRENDS

External forces that drive businesses:

Economics Resources and environment International factors Social change Technology Politics

DEFINING THE FUTURE STATE

What it takes to win Vision

ANALYZING THE GAP

You know where you are (current state) You know where you intend to be (future state/vision) So how do you get there? Get everyone involved Develop a list of all the obstacles to getting to the various elements of the future state (everyone brainstorms with Post-Its) Consolidate duplicates and categorize Use the list of obstacles to create a roadmap/plan

PROMOTING YOUR VISION AND PLAN

Publicize and promote vision/plan with critical stakeholders: Your organization Your management Business partners, especially key decision-makers Other organizations in your company, especially those with information-related competencies Vendors from whom you buy products/services Discuss ways in which you can obtain recognition for your vision and plan.

WHAT STRATEGIC PLANNING IS NOT

An attempt to predict the future An extrapolation of current trends An extension of the past A vision of the future A short-term correction

STRATEGIC EXCELLENCE POSITIONS

WITHOUT FOCUSES

STRATEGIC EXCELLENCE POSITIONS

Strategic success means to achieve better and more stable results than the competition. Achieving that requires superior competence, or the ability to excel, in a set of distinctive capabilities which have special value to a particular part of the marketplace. Note that excellence by itself is not enough. It must be excellence in areas of strategic significance, i.e., that determine the outcome of competition in the marketplace.

That strategic excellence then forms the basis for the organization to achieve better results than the competition. In this sense it is a position which the organization occupies from which follows strategic success.

STRATEGIC IMPLEMENTATION

Direct Means

Indirect Means
Time Related Aspects

DIRECT MEANS

Action Plans and Project Plans

Procedures/Management Systems
Planning and Budgeting Management Information Systems Organizational Structure.

INDIRECT MEANS

Communication

Symbolic Actions
Institutionalizing Actions Fostering Innovation Corporate Culture.

TIME RELATED ASPECTS

Research and Development

Manufacturing Life Cycle

Marketing Cycle Economic Trends Competition

LIMITATIONS OF STRATEGIC MANAGEMENT

Many theories of strategic management tend to undergo only brief periods of popularity. A summary of these theories thus inevitably exhibits survivorship bias (itself an area of research in strategic management). Many theories tend either to be too narrow in focus to build a complete corporate strategy on, or too general and abstract to be applicable to specific situations. Populism or faddishness can have an impact on a particular theory's life cycle and may see application in inappropriate circumstances. See business philosophies and popular management theories for a more critical view of management theories.

CONCLUSION

Each successful strategy could be a catalyst for a strategic thinking direction and approach. As a program or project manager, take the time to identify the strategies in play in the next business case or feasibility study you review. If they are not clear in the financial analysis document, do not be afraid to ask for clarification from your sponsor.

THANK YOU