Importance Of Project Success

747 Words 3 Pages
Register to read the introduction… Existing frameworks and models offer insight in defining the elements of project strategy. At corporate strategy level, Michael Porter's generic strategies of cost leadership, differentiation and focus can be used especially with external customer projects. At business strategy level, Wheelwright and Clark's framework can be used to assemble a project portfolio, selecting projects based upon project mix and resource usage, classifying projects on the degree of product and process change in the project and hence defining projects into three: breakthrough projects, platform projects and derivative projects. At marketing strategy level, Roger’s Technology Adoption Life Cycle frame work can be used; it targets customers, their characteristics and a development strategy. It identifies four customer types and their expectations: The Innovators, Early Adopters, Early Majority, Late Majority and Laggards. At operations strategy level, Porter's Value Chain concept is used with internal customer projects. Shenhar’s UCP (Uncertainty, Complexity and Pace) model helps to determine project Management style and to assess project …show more content…
Asking and answering the questions of Why, What, How, Who, When and Where at a high level helps define each of these elements and in turn Project Strategy. These elements also help address the various project success measures by using the project frameworks to help determine various aspects of the project for example the product element address the product definition process. The Leavit framework is used here to define various aspects of the product. A product vision is established, its vision clearly articulated and functional requirements and technical specification documented. Answering the above questions further solidify the ability to achieve Success Dimension ‘Impact on the Customer’. The project must identify the specific competitive advantage of the project deliverable and also note if one of the variables: cost, performance, time of introduction, or another advantage, or a combination of advantages enable it to be successful on Success Dimension ‘Impact on the

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