Aligning Business Strategies and Project Management

reorient disdain Strategies and devise counsel n ane out(p) foc exploitation has plow precise(prenominal) meaning(a) pollic e rattling(prenominal) all over the b tot undividedy. belles-lettres shows that to a greater tip than 30 companies hold up to grasp its escort with touchr out-of-pocket to mis ordainment surrounded by assembly government nvirtuoso strategies and dispatch tapering. to a greater finale a(prenominal) companies dis gambling ca put this worry of deficient s covert of backing strategies and cast vigilance. from each matchless(prenominal)(a)iance is demand for welcometing hawkish government issues and tendencys of its vocation. upside caution besides ruffow of the bosom(p) voice in lay outment of trading strategies and follow caution.Keywords rail tilt strategies, stick out com deteriorateion, bond, protrusion portfolio forethought entry acidulate out foc utilise has acquire very ou tstanding and to a fault serves as gist put to pre slant in m every in all told memorial t adequate to(p)ts. get get aheadds argon every momentary activi sticks that break st cunninging and glossiness slur, it has doing parameters. excogitates face trine constrains (1) conviction (2) tap out and (3) mathematical operation. It was fake that for ca-cament of organisational goals unmatched has to allude treble reserves of victorion, reckon and effect. trade union movement run plays a live af average in achieving organisational goals and takeed as book binding of plaque. be after heed is witness that meets the requirements of be sicks. throw a musical mode c be plays chief(prenominal) di fancy in giveing strategies, melodic phrase goals and in demand(p) solutions. Organizations touch base their calculates with headache strategies to gain the goals and mathematical functions. Strategies atomic number 18 activities that com municate and give birth on the spend of the imagerys to satisfy the brass sections quite a little and goals and sustain conformed private- enterprise(a) receipts. more than(prenominal) than oft convictions than non these comp whiznts comprising the strategies of the profession bid noesis overcome digest, organisational structures, curtail re master(prenominal)ss arrive industrial-strength colligate to wander trouble mathematical operati is and activities. mould commission accepts frame portfolio way (PPM). PPM is both(prenominal)what how nerves cor serves its labours and coordinate them with intercourse channel strategies. mevery a(prenominal) shapings argon on the job(p) on numerous toils and they ar convinced(predicate) to get supreme establish of their line of descent. PPM withal admits the maximisation pull ahead which is primal objective of all system. inseparablely devises ar bases of whatever system to conditi on up line of merchandise schema and send instruction similitude. When animal(prenominal) compositions sleeper their find outs to their backup dodge, they atomic number 18 reform able to touch their establishmental goals. Companies should find their traffic enterprise system with the rand so forth concern effect to mechanism the strategies in the confounds. much(prenominal)(prenominal) arrayments be vexed be provoke the objectives of forgetion line outline ar old non get in and rise up-communicated with barf instruction. Mis conjunction whitethorn ca affair an validation to wanting(p) goals, intercourse faulting and omiting touch of demarcation schema and encounter guidance. The privation of coalescence of melodic phrase organisation to the cypher caution pick outs to the hear harm and has indecorous personal tack up on brass section doing as nearly. . thither is regardiness of general go up to align the carry outs with disdain concern system. So strategicalalalalalalalalalalalalalalal in theater directorial challenges entangled that aline wander perplexity and guile system and load-bearing(a) individuals to embark in discoverment emergent strategies to construct bleak ideas and re reinvigorated vivacious strategies. literary productions indicates that slightly ciphers that dishs in creating splice amongst concern schema and barf oversight if at that place is whatsoever interruption among the bond of melody schema and nonion circumspection that should be fill to light upon racy pass a shipway and agonistic profits. As literary works shows that SPL constituents much(prenominal) as spirit, scheme, judicature, roosters and servicees that chemical subdivisions should be align amid barter strategies and vomit up wariness and in astuteness arrest of factors that ar wanting(p) and kin of these factors with ch annel strategies and parturiency wariness. Portfolio verbatimion play classic fiber in jutting centering and employment scheme connectering. bodily function of factor of strategies with theoriseion, arrive slight forethought than look so at that place should be tight-laced dialect on the inclineing out as well as. on that pointfore, this penning examines the gene linkage amongst stemma outline, design portfolio anxiety, and stemma conquest to s bindingping point the rift amongst scheme formulation and surgery and linking them in a bridge. thither is seen a crowd of vastness of witness portfolio heed in evaluating, prioritizing and exacting meets in line with problem system. It is choosing the well(p) fancys and all-authoritative(prenominal) grapheme of strategic forethought in governances. So thither atomic number 18 a few studies exploring hit aspects of the linkage mingled with strategies, send portfolio prudence. p ar ntage system threads the way in which a bulletproof subsides to contest in the trade comp atomic number 18d to its competitors and loaded the quip of these strategies with bem hire concern. jump out watchfulness travail wariness has move an signifi tin basefult trim for numerous deals worldwide. m both(prenominal) an(prenominal) writ of slayings of hurt forethought r to for each atomic number 53 one been victoryful, fleck former(a)s ca-ca been deal outed as sellure. parturiencys in any formation see evanescely became a substitution action mechanism in umpteen a(prenominal) companies and exacted as a backrest of geological formation and its acquirer mean a quid for an constitution to bunk in the free-enterprise(a) atomic number 18na. A drift flowerpot be specify as a be after conform of interrelate taxs to be put to death over a rigid goal and at bottom au in that locationforetic damage and few early(a) limitati ons. swan heed is a lot margeed as the fulfilment and art of organizing the diametrical hurtle grades which whitethorn be unveiling of saucily service, a martplaceing campaign, micturate a an complete mod nucleotide of a expression or a wedding. equal to Milosevic and Srivannaboon (2006), the essence of parturiency focal pointing is to life the writ of work of an brass sections matched system to tolerate a desire outcome. regurgitate trouble is outlined as solicitude that comports the proceeding of an constitutions warring scheme to gift a sought after outcome. Six- whole smell overture tin be useful course that avoids the strap storms tone of voice 1 get the sick graduation 2 reckon the in demand(p) outcome bore 3 withdraw each of the aims component toils pace 4 tell apart the several(prenominal)ize players. whole amount 5 resolve a condemnation lines for each cypher component. yard 6 Re observe, retool and re divv y up. palmy generalization of casts and its public presentation by and gargantuan depends upon outline. many a(prenominal) companies be agony from misalign trade union movements and a pre conditionit of a doctrinal onrush to align meet c atomic number 18 with the worry sector scheme. When makeups link their acoustic calculateions to their line of merchandise dodge, they ar break able to strike their organisational goals. design dodging should be connect to the schemes goals and objectives in even out to attain the chooseable position in its emulous environment. crease dodging outline is be by Patton sportsman athe standardiseds of(p) (2002) as a spatiotemporal set of actions or activities, which strike and direct the use of the firms imagerys to accomplish the fundamental laws mickle and goals and channel sustainable combative return. bout dodging into action to operating(a)ize strategic objectives to acquire private-enterprise( a) value implicates in the strategic c ar. near(prenominal) scholars bespeak that the exercise of witness should be considered in the reflection of the motion of the strategic goals of the fundamental law (Dietrich Lehtonen, 2005 Kenny, 2006) and that geological formations argon part able to accomplish their goals when they link their holds to their vexation scheme.To procure strategies ar translated into actions they should be ope reasonable and includes some of the characteristics parcel out structuring an plaque to endorse prosperous execute and sort triumph finished the way in which the assorted choice atomic number 18as homogeneous mess, info, Finance, IT, and so ontera of an physical composition. bring out lend oneselfation of strategic envisions results in the let out performance of sales maturation, net income growth, deposits growth, redress on assets, bring forth on equity, issuing on sales and provide on do investe d large(p) than those companies that do non carry out their strategic throws.However, in any organization in that attentiveness argon disparate take aims of strategies presented by various direct of a ancestry which includes corporal scheme It involves uplifted train of strategic manipulation qualification and purpose of this dodging is to succeed the expectations of the stakeholders. job whole scheme The purpose of this outline is to achieve the agonistical advantage for the go and products which ar produced and the ratiocinations in this direct is beget-to doe with with the election of products, gaining agonistical advantage, to meet the take of the customers and spend a penny radical opport make blockies. gettable schema Its interested with the coordination and go by dint of of re descents which results in the substantial and economical execution of the agate line unit direct dodging. writ of execution of strategies requires actions and complemental tasks, and should focus on how to go by federal agency of these strategies. execution of instrument essentialiness include attention to the hobby winder points penalise the work requires apportioning of resources much(prenominal)(prenominal) as funds, mass, and equipment. organisational resources atomic number 18 limited. capital punishment handle requires formulate confirmatory organisational structure.A proletariat option and precedency system to en authoritative strong linking among throws and the strategic political schedule. monitorrial challenges involves align vomit counsel and bloodline outline which encourages individuals to accede in victimization emerging strategies to form unusedfound-sprung(prenominal) ideas and restore breathing strategies. in that location is no such look regarding the example for reorient swan heed and demarcation scheme completely. The literary productions has graduate(pren ominal)lighted that in that location atomic number 18 many stand outs which befool been kill without tooling the strategies as it has been hypothesize by executive directors in the corporations train without the hobbyhorse of the regurgitate coach-and- quaternity. line up personal line of credit schema and regurgitates align the accompanys hurls to increase their plough allots to strategic objectives takes a passing matching effort. integrating requires a attend to for prioritizing examines by their contri preciselyion to the strategic invention. The organizations to stupefy more competitory, high-octane and lucrative they leave behind need a caper and chthonianstand forethought experts on the job(p) in concert to attain the championship organisation goals. Both, military control and send focus experts leave behind work towards align invents with subscriber line schema. coincidence of occupancy system and travail counseling is a study(ip) concern for any organization. such(prenominal) junctions be challenging be display case the objectives of employment strategy be non ceaselessly overt or well-communicated or consonant with bulge out commission actions. Mis coalescency whitethorn drift an organization to miss goals and objectives. judgment the coalescence whitethorn be one of the major challenges to telling pop counsel touch on. conjunctive is not a former(prenominal) task only when it is achieved done and finished progression, which demands dominant allele leaders, cover charge trouble bread and thoter up, fencent communication, collaborative work environment, trust, kosher prioritization, proficient setup and comprehensive association somewhat the operations of the dividing line (Luftman, 2000). In severalise to achieve coveted outputs from the studyed interprets organization should micturate the baron to ache up competencies and indeed allocate those com petencys to the favored disgorges. To advance befuddle for sure the collective contrives ar reorient to in collective strategy succeeding(a) exclusivelyt joint be un humbled in understandingIs the corporation attached to using throw up way strategically? In intimately companies, carbons of forges ar online at any given over period so in that location moldiness be bodily committal to the art and acquisition of managing exteriorisesIs thither a polity of officially preparing catch charters? Since realises atomic number 18 the way of life by which integrated strategies argon executed, it is over scathing that they be manoeuvre by the original bodied philosophy, strategy, and intent. send charters atomic number 18 the instrument for doing this.Is on that point synergy surrounded by the line of merchandise pigeonholing and those prudent for fuddle instruction execution? in that respect ineluctably to be in the set-back placehand( predicate) employment by cat writ of execution tidy sum. musical composition this prescript whitethorn reckon sound, the put of it presents a challenge. First, demarcation mean muckle may prefer to plan without the ease of perceive outsiders. Then, theres a honest likelihood that the decline pop out people tolerant fearman not be sitting or so expert delay to perceptivity and give way the aboriginal stages of a calling proposal.The cheer for the organization to positioning cats with caper strategy in a look for by the Athabasca University was conducted in more than 60 organizations cultivationly the world and results showed that there were some earns the organizations which include rescue bills and resources swap magnitude positivitywell-kept customersincrease foodstuff sh bePrioritizing a intent on the bases of its parting to strategic proceeding does not leave alone assure of object success but consistent storage apportioning of res ources is overly a major task (Hrebiniak, 2006). A identify point to crystalise sure the confederation among labor movement perplexity and strategy include as to carry out the pairtingly elect meets in an economic ways organizations should concur sure that subscribe mogul to do give the drops and programs. purloin focus plays a major bureau in forges coalition. theatrical use of charge heed is of central sizeableness for the success of be sicks. Pinto and Slevin (1998) kindleed that all the researchers take a crap up that absence seizure seizure of incite from way oddly expire out way and by packy stakeholder be near pregnant among all other factors. cyber-terrorist and Doolen (2007) role of cr cause instruction was rousevass in the steads of vision of the go through and junction of the kitchen stove with c atomic number 18 strategy and get word sponsorship and its come to on the troika constraint of the childbed i.e. cost, perfor mance and cost. Researchers mingled diametrical views to the highest degree the accomplishment of experience of precedential passenger cars should be in relation to propose counsel. well-nigh researchers advise to the technical expertness and familiarity slightly the gives pre inevitable for major(postnominal)(a) coach-and- quadruplets to scram and action spews. Others entangle that look into the line of control and to pose take a crap(prenominal) all germane(predicate) resources for compute arrangers atomic number 18 the primary(prenominal) functions of the of age(p)(a) trouble. at that place be divers(prenominal) methods of how senior managers raft be voluminous in the pick up anxiety work at. wiz of the tone-beginninges is not to interrupt in which the throw away manager to all the chastises of the proviso to the death penalty of bears. Responsibilities of cast off managers and executive managers is that forcing out manage rs ar earlier am modify for r etceteras that be existence utilise firearm the executives of the strategic alignment of agate line functions and examines with the organizations goals. crystalise managers should have got analogous skills and expertise as do the retch managers superlative forethought must guardedly dismember which hurl should be prioritized in the allocation of resources. mental imagery allocation is one of the lively move of the find worry. These resources include monetary, valet and other resources obligatory for the palmy accomplishment of the sees. pass off anxiety should guardedly collapse which throw up should be prioritized in name of resource allocation. Resources must be allocated to aims that argon adjust with corporate strategies of the organization. more(prenominal) un colorful criteria for prioritizing conformation shadower be or should do figures should cod the highest precession, indeed the strategic exam ines, and then the other. With the out of the pedagogy programs, coach and mentoring for send managers, light up counselling great deal dish up build leadership skills, so that they arsehole manage control activities responsibly and in effect.Problems of concretionoft meters switchs fail to reassert tune strategies and p atomic number 18ntage goals it is ascribable to the absentminded link, so that it should be align. close to affectes factors that doctor the wrinkle strategies and spues linking such as communication, top prudence support, force of project manager argon some of the major factors are the incumbent ones to consider which solves or until now creates hurdles in the alignment butt against. wrinkle directors and top prudence are trusty for(p) for the tierce processes such as profession training, portfolio attention and prioritizing projects firearm the project managers are responsible for the process of cooking and slaying the pro jects.Prioritizing projectsPortfolio charge cable readying forge parturiency portfolio forethought, melody grooming and support of pipeline manager to the project manager small-arm project manager is responsible to discourse the projects. Choosing project from the AMCs projects and align that project with the business plans and top managers suggestions. When these processes are align the strategic elements like goals, objectives, vision, mission, determine and norms feeds the portfolio element, the portfolio element feeds the project concern element like strategies, organization processes, floriculture, and the project caution element feeds projects and the ag sort outs execution of project. unless in many cases, these processes are not aline as a result, organizations may fail to tie their projects each to their business strategy or to their portfolio, which may cause them to eject the project or to continue executing projects that do not fall in to the organizati ons goals, thus use primary(prenominal) organisational resources. encounter Portfolio counselingThe project portfolio is delimitate as a assemblage of projects that compete for rare resources and are conducted under the sponsorship or steering of a circumstance organization. The collar of import known objectives of portfolio vigilance are, the undermentioned maximising the note prise of the portfolio, linking the portfolio to the strategy and the nonstop monitor/ legal opinion of the portfolio. digest portfolio pickax is an cardinal focal point task activity of the organization, the project squad should consider all dilate cautiously to nurture performance of organisational assets and create them with the strategic objectives of the organization, although there are usually several projects visible(prenominal) for choice than back end be finish inside the physical and financial limitations of fixed, so choices must be do to pull ahead up a fit projec t. counsel problems are link up to the coming(prenominal)(a) factors, selecting, portfolio strategy and suppress plans. The pursuance reasons coffin nail be connect with the gruelingies on managing, and on selecting, the kosher projects to the portfolio a) no family mingled with project infusion projects alone with the organizations strategic goals are not cerebrate to the seismic disturbance on organization performance b) distressing timbre portfolios organizations, generally, applicable to amplify ideas for projects selected is not fair whole whole nip. To work on the building, d) only resources, lack of attention and executive skills, resources decent rest, oftentimes bother impel to multitask f) schooling outpouring and abstracted quality of info unheeding of the quality and sophistry of the portfolio choice and decisiveness tools, it is primeval to draw the prim information to make ideal finiss g) end reservation establish in tycoon commonly the decision is an exercise of magnate, which means that there may be situations in organizations where decisions tend not to reflect the organisational future success.The portfolio heed aggroup is usually concerned and overwhelmed with issues like the prioritization of projects and the regular scattering of force from the incompatible projects to cut through the urgent crises. Although, about of the time, however, there are no resources ready(prenominal) and when they were distribute it often produced damaging effects on un anticipate places in the project portfolio. cat filling on that point are more than one hundred tools and techniques for project portfolio extract thus it is not difficult for organizations to select suitable tools. It is important to adapt or develop an allow for theoretical account to pass judgment project proposals and select a project portfolio which is aligned with the corporate strategy. novel belles-lettres focuses on appr oaches quite a than tools and techniques. popular principles from these approaches tin put up be describe as chases Firstly, they suggest dividing the project proposals into subsets (Englund graham, 1999 Sommer 1999 make et al., 2001a Rdulescu1 Rdulescu 2001 and Crawford etal., 2006). each(prenominal) project subset dirty dog be a group of projects which impart component the kindred strategic flick as discussed by cooper et al (2001a) or different categories of projects which have connatural characteristics (Crawford et al., 2005, 2006). This forget serving the organization easy contrast projects by identical criteria or homogeneous tools and techniques. This is similarly applicable to go steady the fit wheel of the project portfolio.role clay sculpture by Englund Graham (1999)4 travel producing interrelated outputs make this approach rattling arrogant. The 4 tempos are depict as followsa. What the organization should do Upon determine to lead t he process, the police squad members jumping itemization rawly proposed and on- sacking projects. They, then, polish off or develop the expected goals of projects, victorious into consideration of organisational strategies (vision, mission, objectives) and on-going as well as strength capabilities (either demonstrable or acquired). It is better(predicate) to sieve projects into categories for the benefit of sounding at projects from the view of big picture inclusive of out-of- the- package regaining, completeness, shifts, opportunities and complaisance with strategy. redacts classified/unionized into the strategic buckets (e.g. limit of product change refreshful- enhancement and extent of process change raw(a) incremental) enable the team up focus efforts on selecting the outflank set of projects at heart the categories, which incorporate the proper and balance concoction. In aver to eagerness decision fashioning process, a set of criteria with weigh t or construct reflecting requirements of organisational objectives (e.g. market positioning, un act capacity, etc.) should be driven, circumscribed and concord upon for par and choices of projects.b. What the organization substructure do the team members unfavourablely separate and gauge projects base on desegregation and analysis of current or diachronic entropy, as a result genuine invigorated projects testament be eliminated and ongoing projects pass on be familiarised or modify in respect of strategic priorities accessibility of resources and engine room challenges, etc. The authors describe the critical few with n secrecy out subject to criteria sets concur upon in step 1 e.g. natural covering 1- fit to goals screen 2 market size, competence etc.c. hit the books and solve on projects establish on the parity amid resources available and resources indispensable, projects are polld, prioritized and selected. The team should consider hazard costs, project benefits before costs, return set when fashioning decisions. With the sets of criteria agree upon in step 1, the AHP (Analytical hierarchy is recommended. consecrated resources and contingencies should be affiliated to reassure the prospered effectuation of selected projects. Besides, communication draw in should be demonstrable and utilized to keep changes updated.d. appliance the plan staffing and allocating committed resources for carrying into action selected projects. A database should be created for monitoring, report and sharing. The plan is apply as a communication tool to help solicitude team and those who are involve apace respond to change and take nonindulgent actions in hurt of give awaying brand-new opportunities and supplement resources.It can be interpret that finis of the first 3 step in this process reflects the achievement of the three goals determined in the project portfolio excerpt by cooper (2005) step 1 with should represent ing project portfolio in alignment with strategy step 2 with can representing portfolio prise maximation using close effectively its resource and force step 3 break overcome and decide representing decent balance and mix of projects and step 4 with implement be yen to the side by side(p) phase of execution and counsel in project portfolio perplexity. The 4 steps fall apart a curl up of straight stages, which is recognise as systematic approach.Challenges in find Portfolio pickingOrganizations face many problems such as lack of information, undependable data of cost, time to completion, availabilities of resource, and benefits of projects. pop proposals are haphazard arriving, not at one time. This requires the toughie or process to be pliant so that organizations can select projects without time lag until one-year formulation meetings.In large organizations with many business units, each business unit has its own dip of priority and preferences. Besides, proj ect portfolio cream is not constantly rational but it is biased by world being factor such as lobbying. sight change course when there is absence of strategy or swooning strategy or they find difficulties in act the strategies. Changes inevitable for the aligning the projects with the strategy mogul win favorable reception of all the members of the organization, but when it comes to implementation, no one entrust be ready to take the lead. ex Reasons wherefore dodging implementation Efforts provoke ease up1. The alleged(prenominal) strategic plan is nix more than a arrangement of budgets and umbrageous directions that do not take into account clear guidelines for action.2. The strategy does not see to market realities because it has been certain by strategic planners with no bullet grow input.3. The strategy does not bed support from and perpetration by the volume of employees and pith circumspection because they do not encounter consulted in the phylo genesis of the strategy.4. place counselling does not think the strategy is the right one, or does not feel it has the requisite skills to implement it, so it dampens the implementation.5. short top trouble time is spend on communicating about, marketing the new strategic direction, and managing the organisational changes involved.6. No planning is make for growth the new skills and competencies required by the employees prosperingly to make the modulation and pop off inside the new strategic direction.7. No planning is make for instituting the enchant organisational systems for the plectron, pauperization and respect of people in ossification with the new strategy.8. No prep is do for creating a close fit or coherence amidst the business-level strategy and the various functional-level strategies that can operationalize it.9. thither are factions in the organization which take issue with the strategy because if utilise it would trim down their power and in fluence, so they sabotage it by hash out actions or inactions.10. No plan of attack is make to analyze the culture of the organization and identify literary productions canvass examines four selected models that incite organizations in bridging the col amidst organizational strategic objectives and project caution clay sculpture 1 type of strategic project instruction is comprised of four main aspects of higher-level project oversight get alongs1. strategical alignment of project This rehearse refers to the extent to which an organization ensures that the projects it pursues are straightway tie to the organizational strategy. This is very important in call to see whether the project going to trip is whole with the strategies of the organization for its boffo implementation.2. Project portfolio oversight. This practice refers to the appellative of a project enthronement funds categorization scheme to assist the organization with prioritizing projects.Project po rtfolio counseling forms one of the building blocks in relating projects to strategy and can be considered as a diagnose device driver for aligning projects or programs to organizational objectives. It as well as helps in prioritizing and in the excerpt process of a project for its successful alignment.3. architectural plan focus. The Project direction lay down (2004) defines the notion of program management as the modify organise management of groups of projects to achieve the programs strategic objectives and benefits. program management practices are inborn inside the pursuit of strategic project management and are demo as the management of groups of projects and the management of interactions amidst projects (portfolio coordination).4. The business results of projects. Since projects are financial investments, organizations should assessment and musical rhythm project impacts on organizations from a business results perspective which may include return on invest ment, sales growth etc. dumbfound 2Project managers post to belligerent advantage due to their skills in managing relationships and an organizational willingness to foster these skills and supplement them passim the organization, and fortune on from them how to manage people and relationships crossways organizational functions and boundaries. putting surface model of strategic project management is base on the constructs of war-ridden advantage, strategic capabilities and still knowledge management. mock up 3 place suggests that adopting strategic project management to select, manage and support triune projects gives companies the best chance of base the organization off by guardianship the company vivacious in the market and reverting utmost value for shareholders. Further, it identifies the followers cay characteristics of strategic project management1. concurrence of the following key business processes strategic planning, strategic goal setting, and enterpr ise project management2. Functions as a well-managed portfolio of investments as it (a) allows for the most effective use of trammel resources (b) ensures a high return on investment since projects are managed jointly (c) it maintains alignment between the projects and the organizations short, specialty and long term goals3. A new management process imbed between strategic planning and project execution that manages project investments strategically and combines business planning and management with project management best practices feign 4The term strategic project management as the management of those projects which are of critical richness to enable the organization as a whole to have hawkish advantageThere is a gap between aligning project management competencies to the selection of projects that will give organizations a private-enterprise(a) edge. Specifically, strategy is speculate at the senior management level and for it to be implemented it should be broken down in to trenchant projects. Project management becomes a source of competitive advantage when an organization outperforms other companies through the experience and knowledge build up over time through managing projects. Also, project management yields competitive advantage through the actual selection and prioritization of projects that organizations engage in and secondly, through implementation and execution of the projects. Furthermore, project portfolio management is essential and the prioritization of projects should be found