K Balasubramanyam
Abstract
Management of a strategic project involves many complexities with steps starting from defining of the organization mission and vision followed by formulating a strategy, assessing the resource condition, stakeholders interest and changes that may occur on design or otherwise which in turn lead to changes in schedules assigned in manufacturing. Innovation in design as well as manufacturing plays a major role in strategic project management with several distinct advantages. Assessing the strengths and weaknesses of an organizational set up (SWOT) is one of the first steps in the development of a strategy. The other major issues include competition, manufacturability of the project requirements with judicious allocation of available resources and the timeframe to achieve the results. This is followed by the effective installation of the strategy with performance measures and correction of non conformances. IE plays a major role in SPM in several areas such as scheduling, allocation of resources and their management including auditing and providing a base for effective manufacturing results. In addition it has a role in facility planning, outsourcing management and quality issues for all products that are developed. The present paper intends to study the overall applications of IE as visualized by the author, in the future of Strategic Project Management in fulfilling the objectives of the organization and summarizing its role in key areas of activity and also discusses on the effective application of the techniques such as Balance Scorecard.
Keywords- Strategic Project Management (SPM), Deliverables, Change Management, Innovation, Balanced scorecard, Strategy maps, Key Performance indicators, (KPI)