6 Questions To Test The Strength Of Your Project Strategy

6 Questions To Test The Strength Of Your Project Strategy

A project with a weak strategy is bound for failure. Why? Because strategic alignment in a project assures things like proper resource allocation, efficient process-setting and profitable outcomes. Test the strength of your project strategy with these 6 questions:

How well researched is this strategy?

You know that saying “jump in head first” that people use often when giving advice? Well in this situation that is really bad advice. The worst thing you can do is start a project without a completely flushed-out strategy. You need to know the ins-and-outs of the project including obvious things like resources and budget, but also often-missed things like possible risks and hiccups in the plan. The better researched a project strategy is, the more prepared the project team is and the higher the chances are for a successful, profitable project.

How strong is the project team?

In the services industry, your project is only as strong as the people working on it. That’s why it’s crucial your team is made of the best-of-the-best resources and managers. To build the best roster around, we recommend:

Does your project strategy align with your company strategy?

Your company strategy keeps your business running, from aligning your team to setting your goals. So it should be no surprise that your project strategy should support your overall strategy. To test the fit between your organization’s overall long-range strategy and your project strategy simply ensure that your project’s goals are consistent with your organization’s overall goals, mission and standards.

How involved is the client?

A successful project strategy is one where the client is on board, because there is nothing more challenging to completing a project than a difficult client. And not to say there aren’t just plain pain-in-the-butt clients, but the majority of difficult clients are only difficult when they feel left in the dark or ignored. Keeping your client up-to-date with status reports and regular communication is key to keeping them happy.

Can your strategy handle change?

Speaking of difficult clients… it is not uncommon for clients to request changes to a project every once in a while. So your project strategy needs to be able to handle these changes without affecting the success (or profitability) of the project. The solution: be sure your strategy includes a change management plan.

Do you have all the tools needed to succeed?

You can have the strongest, well-planned out strategy around, but if you don’t have all the tools and technology needed to execute than it is worth nothing. And the proof is in the pudding that the right tool can make all the difference. Modern PSA solutions, like ForeIQ, have proven to be able to significantly improve business aspects, such as team communication (+52%), quality of final product (+44%), number of projects completed on budget (+44%), number of projects completed on time (+44%), and customer satisfaction (+38%). But beware because not all tools are the same, so be sure to test the fit first!

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