Critical success factors - these are often used terms, but not always fully met. Many managers believe that it is necessary to create dozens of indicators, and call them critical success factors. However, too many indicators can be harmful to the company, and not all indicators represent critical success factors. There are companies in which there are people and even sectors created to raise indicators, monitor indicators, and this in no way contributes to success.
Strategic Planning and Traditional Planning have essential differences. These differences can be illustrated by some well known MPB (Popular Brazilian Music) song lyrics.
Organizations struggle to implement the strategies they need to generate and sustain a competitive advantage due to dynamic approach. There is a need to ensure that investment in portfolios, programs, and projects leads to potential benefits but the common challenge is the appropriate tracking of the planned to the actual realization of benefits. Proper benefit register helps to correct this strategy misalignment by aligning portfolios, programs, and projects to the organization strategy.
New release from PMI with download open to the general public (for a limited time). Check out this introductory article from Peter Mello who was part of the SME Group (Subject Matter Expert) for the new PMI Practice Guide: Benefits Realization Management.
Benefits Realization Management A Practice Guide is a Project Management Institute Global Standard. It defines the role and life cycle relationships of BRM to portfolios, programs, and projects while identifying a common vocabulary to aid any discussions of BRM.
Building a strategic plan involves gathering as much information and data as possible that are relevant to accomplishing the organization objectives. The collected information focuses mainly on the needs of the business and the initiative to achieve the requirements.