Speaking of strategy…in Dec 2015, the Project Management Institute (PMI) changed the PDU requirements – requiring PMP’s to take training in each of the three legs of the new “PMI Talent Triangle". One of the legs of the PMI Talent Triangle is “Business Management and Strategy". The PMI Talent Triangle and the “Business Management and Strategy" leg are a result of a formal PMI study – called a Role Delineation Study (RDS) - of the project manager’s evolving role. That study revealed that organizations now strongly emphasis the need for project managers to have skills in the area of “Business Management and Strategy".
Thus it is that part of the role of the project manager is to ensure that, during the project, the project remains true to its strategic origins. While PM responsibilities include delivering the project on time, within budget, and to acceptable quality standards, it is increasingly acknowledged that PMs now need to maintain awareness of the strategic reason for the project, and to ensure that the project remains true to its strategic purpose.
I have introduced the idea that project managers can use the Balanced Scorecard approach to maintain the linkage between strategy and their projects. I have provided the four balanced measurement categories that PMs can use, and suggest that PMs think about these four areas for their projects and identify specific metrics for each of the Balanced Scorecard areas for their projects. By so doing, PM’s will ensure that their projects map to strategy as a key measurement of project success, in addition to meeting budget, schedule, and quality requirements.