Strategic Application in Project management
Organization Strategy and Project Selection
- Explain why it is important for project managers to understand their organization’s strategy
- Identify the significant role projects contribute to the strategic direction of the organization
- Understand the need for a project priority system
- Apply financial and nonfinancial criteria to assess the value of projects
- Understand how multi-criteria models can be used to select projects
- Apply an objective priority system to project selection
- Understand the need to manage the project portfolio
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
- The portfolio of projects is typically represented by compliance, strategic, and operations projects. What impact can this classification have on project selection?
[Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].
[Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]
You manage a hotel resort located on the South Beach on the Island of Kauai in Hawaii. You are shifting the focus of your resort from a traditional fun-in-the-sun destination to eco-tourism. (Eco-tourism focuses on environmental awareness and education.) How would you classify the following projects in terms of compliance, strategic, and operational?
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- Convert the pool heating system from electrical to solar power.
- Build a 4-mile nature hiking trail.
- Renovate the horse barn.
- Launch a new promotional campaign with Hawaii Airlines.
- Convert 12 adjacent acres into a wildlife preserve.
- Update all the bathrooms in condos that are 10 years or older.
- Change hotel brochures to reflect eco-tourism image.
- Test and revise disaster response plan.
- Introduce wireless Internet service in café and lounge areas.
How easy was it to classify these projects? What made some projects more difficult than others?