elements of business strategy

To achieve business goals, one must have a well-conceived strategy.

It’s important for IT project managers to understand what strategy is and to develop strategies for their projects. There’s more to project management than just completing the project within the time specifications; it’s about doing it on time and more importantly, right.

Despite our best intentions, projects may not always go the way we planned. In fact, projects often evolve, and a good project manager must know how to adapt. To move forward, project managers must have the ability to recognize what is critical and noncritical and make the necessary adjustments.

A project manager who doesn’t understand strategy may be so concerned with finishing a project or meeting a deadline that they overlook the other requirements of the actual plan. They may also fail to make the necessary adjustments that will result in a finished product that is not only finished on time but is of value.

Applying Reason to Project Management

Project managers must realize that strategy doesn’t always mean sticking to the plan but knowing when to step back and identify if the plan needs re-evaluation. Strategy means being flexible while maintaining direction to execute clear objectives.

Thoroughly outlined project plans must be open to communication. The IT project manager’s role is to oversee the process and plans, execute and delegate responsibilities around the company’s IT-related goals. The project manager’s strategy should involve communicating with all business resources to meet project milestones and to ensure that all involved are operating in sync.

The Role of Project Management Software in Strategy

Many project managers know the value of project management software and how it can help with the implementation of their project plan. Project management software gives them an easier way to produce and disseminate status reports and project updates to those involved in the project.

IT project managers can best demonstrate strategy by having control of project ticket queues, integrated email agents, resource management, task scheduling, and project groups. Project management software like TeamHeadquarters will give IT managers all that including portfolio dashboards, integrated status reporting, integrated and customizable reporting, the inclusion of customers on project tasks and tickets and a Customer Self-Service Portal.

Excellent project management means being able to quickly communicate issues, risks, change requests, and incidents. A good strategy means involving relevant technology to complement your project management.

By having a project dashboard, you’ll have instantaneous feedback on what’s going on across all projects. You’ll not only have the ability to identify your project risks but also have an increased awareness of potential problems.

Project management software like TeamHeadquarters has been developed because of the essential requirement for IT project managers to understand the project, define a strategy and execute a plan.  That is why a project management system covers all aspects of project management such as resource management, task management, task scheduling, status reports, integrated Gantt charts, issue management, and financial management.

Remember, a strategy is much more than just meeting your business goals. It’s about the steps that you take to have a competitive advantage.

To see how you can integrate TeamHeadquarters into your project management strategy, click here for your free trial.