The PMBOK Refresher

Relationship Between Projects and Strategic Planning

Copyright © 2017 by Tomislav N. Krnich

To see an answer, click or touch its question:

  1. Projects are often utilized as a means for what purpose?
    • For directly or indirectly achieving objectives that are aligned with an organization’s strategic plan.
  2. Name eight typical objectives that would cause an organization to authorize a project.
    1. To meet market demand.
    2. To create a strategic opportunity.
    3. To fulfill a business need.
    4. To fulfill a social need.
    5. To address an environmental consideration.
    6. To fulfill a customer request.
    7. To make a technological advance.
    8. To meet a legal requirement.
  3. When as a member of program or portfolio, in what context are projects a means for achieving organizational objectives?
    • They would be viewed in the context of an organizational strategic plan.
  4. When as a member of program or portfolio, may a project be outside the context of organizational objectives?
    • Yes.
  5. For projects belonging to a program, but having discrete, detached, separate, and unrelated benefits, can they contribute to the benefits of the program?
    • Yes.
  6. For projects belonging to a program, but having discrete, detached, separate, and unrelated benefits, can they contribute to the objectives of the portfolio?
    • Yes.
  7. For projects belonging to a program, but having discrete, detached, separate, and unrelated benefits, can they contribute to the organization’s strategic plan?
    • Yes.
  8. Organizations manage their portfolios based on what?
    • Their organization’s strategic plan.
  9. Portfolio management ensures that portfolio elements are reviewed, prioritized, have proper resources, and are aligned with organizational strategies. What is the purpose of that all that work?
    • To maximize the value of the portfolio.
  10. Name two methods used for maximizing the value of a portfolio.
    1. Removing elements that contribute the least to the portfolio’s objectives.
    2. Using portfolio feedback to adjust the organization’s planning.
  11. What three types of feedback may projects send to program and portfolio managers?
    1. Status reports.
    2. Lessons learned.
    3. Change requests.
  12. How can project feedback help adjust the organization’s planning?
    • By identifying what is impacting other projects, programs, or portfolios.

 

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