Creating the link to business success
Most companies are never short of good ideas for improvement and your own is probably no exception. Ideas can come from anywhere within the company or even outside it: from competitors, customers, or suppliers.
However, deciding which of all these good ideas you should actually spend time and money on is
You must take care in choosing which projects you do, as:
• you probably don’t have enough money, manpower, or management
energy to pursue all of your ideas;
• undertaking projects which you cannot easily reconcile with your company’s strategy will, almost certainly, create internal conflicts between projects, confuse the direction of the business, and, ultimately, reduce the return on your company’s investment.
You should consider for selection only those projects which:
• will realize real benefits;
• meet defined business needs;
• are derived from gaps identified in business plans;
• have a firm root in your strategy
Having created a shortlist of “possible projects” it is important you work on them in the right order, recognizing interdependencies, sharing scarce resources and bringing the benefits forward whenever possible.
Selecting the right projects will help you achieve your objectives by realizing benefits
which support your strategy
(C) Oyin Williams 2012
Join our next effective project management classes to gain more insights.