Project Management

1. Explain the role that projects play in the strategic management process - why should every project manager understand their organization's vision, mission and strategy.

Whatever direction a firm wants to go in it will accomplish the goals through projects. Projects help define the mission, vision, and goals of an organization. In a rapidly changing business environment, projects are the means by which companies develop new products and services. Since about the 1990's a dramatic change has taken place with companies being run a little differently than in the past. As companies restructure to strengthen their competitiveness, projects have become the focus. Whether they are developing new products or delivering better service, projects are the new focus of organizations.

With this new focus the institutionalizing of this practice known as enterprise project management (EPM) has become the organizational choice of accomplishing tasks.

Every project manager needs to understand their organizations vision or goals because that is how they as an individual employee will be successful in their career with this organization. By being successful at this they will set realistic expectations about the cost, schedule, and quality equilibrium with all the projects stakeholders. They will be expected to manage expectations throughout the project. If the equilibrium changes,