Corporate Project Administration

The Importance of Monitoring Strategic Programs

The corporate project administration department would be able to track only strategic programs, not all projects. Project management is a technique used by organizations to help them achieve their priorities and targets. CPAG will only be able to monitor strategic programs when they are aligned with the organization’s mission. Any projects are not more important than others because they fall outside of the organization’s mandate.

The Value of Focusing on Strategic Programs

Strategic programs are those that are linked to the organization’s aims and objectives; thus, it makes better sense for CPAG to focus solely on those projects because they would be of greater value to the organization. CPAG can solely focus on strategic projects since the funding of those projects can be excessive, and therefore they require to be continuously monitored so that they can yield the profits expected (Basu, 2014).

The Importance of Managing Projects Effectively

Organizations such as blue shield have many projects, the issue of how all the projects are managed becomes of great importance, and certain projects are not really projects (Burke, 2013). Majority of the projects in an organization does not project at all; it is only strategic projects that fulfill project requirements such as the due date, budget, goals, and objectives of the organization. Due to the nature of the strategic projects, CPAG will specifically focus on those projects and not any other project.

The Impact of Monitoring Strategic Projects

Monitoring other projects apart from the strategic projects will cause a delay in the execution of other projects (Duffield, 2015). Corporate resources will also be highly used by multiple projects and as a result, the utilization of those resources will because valley’s and peaks to occur. CPAG will also monitor strategic projects since they have specified goals that they aim to achieve in the organization.

The Termination of Tactical Projects

All tactical projects will be terminated in the future. Majority of the projects that are carried out in an organization are canceled while they are in the middle of execution (Gemünden, 2013). Other projects require a lot of financing increasing the budget of the project causing them to be terminated. There are also some projects which take a lot of time for completion, and as a result, they are submitted very late.

Reasons for Project Termination

Projects that are troubled or those that fail are the ones that lead organizations to terminate them in them in the future. Organizations also terminate projects to create a way for new and upcoming projects that they plan on implementing (Görög, 2016). Projects are also terminated to be able to keep up with competition from other firms and to maintain the market share.

The Importance of Project Success and Failure

Project termination also occurs when all the objectives of the project have been met, and they satisfy the users. A project is terminated when it has been a success, or it has been a failure. There is the need, therefore, for the top management to create a cultural ambiance which motivates the projects to be successful and at the same time allowing the project to fail if it loses track of its strategic fit in the plans of the organization.

The Role of a Project Management Office

All these can be managed or tracked in a project management office. The office is a significant asset for organizations that capitalize on using the projects to reach the goals and objectives of that organization. The project management office endeavors to come up with the multi-project expertise of management in the organization, it ensures that there is a close relation between the project and the goals of an organization. The PMO also evaluates the interdependence between the projects.

Advantages of CPAG for Blue Shield

CPAG will considerably improve the achievement of blue shield’s strategic goals since it promotes projects in the organization that capitalize on the strengths of the organization. CPAG will also offer a competitive advantage from other organizations that compete with the firm.

Ensuring Timely Completion of Projects

When PM’s report the progress of the projects in a timely and systematic manner, it will ensure that the projects are completed in the stipulated time that they were accorded which will ensure that BC/BS can achieve the goals that had been set out (Mir, 2017). CPAG will also ensure that it avoids projects which require excessive use of resources and technology in places where the organization will not expect any need for development.

Aligning Project Management Tools with the Organization’s Strategy

CPAG ties the project management tools to the strategy of the organization, it allows the top management to select corporate initiatives and to determine the status of those actions. The group enables the senior administration to change the objectives and the goals of organizations into the performance, targets and the budget. CPAG will help BC/BS achieve its goals since it allows the top management in that organization to view look at the corporate initiatives linking them to the strategic goals of the organization (Williams, 2014). The senior management is provided with an opportunity for tracking, planning, and adjusting their strategies by using the data about financial projects which is usually available in the system. CPAG will also ensure that the profit of the organization is increased improving the position that the organization holds in the market.

References

Albrecht, J. C. (2014). Linking the benefits of project management maturity to project complexity: Insights from a multiple case study. International Journal of Managing Projects in Business 7, no. 2, 285-301.

Basu, R. (2014). Managing quality in projects: An empirical study. International journal of project management 32, no. 1, 178-187.

Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA.

Duffield, S. a. (2015). Developing a systemic lessons learned knowledge model for organisational learning through projects. International journal of project management 33, no. 2, 311-324.

Gemünden, H. G. (2013). A Special Issue of Creativity and Innovation Management: Implementing and Informing Innovation Strategies through Project Portfolio Management. Creativity and Innovation Management 22, no. 1, 103-104.

Görög, M. (2016). A broader approach to organisational project management maturity assessment. International Journal of Project Management 34, no. 8 , 1658-1669.

Mir, F. A. (2017). Exploring the value of project management: linking project management performance and project success. International journal of project management 32, no. 2, 202-217.

Williams, N. N. (2014). Project management maturity in the age of big data. International Journal of Managing Projects in Business 7, no. 2 , 311-317.