Lesson 2: Strategy, Portfolio, and Program Management

2.1 Introduction

The purpose of this lesson is to highlight the manner in which a firm’s strategic use of projects must attain complementarily across multiple levels. That is, if we think of a project as the basic “building block” of strategy, it must be considered in relation to the manner that it contributes to achieving any organization’s overall strategic objectives and mission. We noted in Lesson One that the philosophy underlying the “management of projects” necessitates a broadening out of the context for project-based work, forcing us to alter our perception of the traditional view of project management into one that is more inclusive. Thus, because projects are generally initiated with the goal of achieving strategic objectives, it becomes necessary to understand the positioning of projects to align with strategic portfolios and programs. Likewise, until and unless we can come to a firmer recognition of the goals a project is intended to support, it will be difficult and frustrating to ascribe notions of success or failure to any particular project venture.