Book chapter
Linking strategy and projects through strategic initiatives
The Handbook of Project Management, pp 27-41
2024
Abstract
V.K. Narayanan explores how projects can be linked to strategy through strategic initiatives. Strategic initiatives represent a type of program that actualize strategy implementation. They represent groups of interdependent projects which contribute to the strategy of a company, require significant coordination between top and middle managers, and thus offer a bridge between strategy and program management. They usually emerge from strategy redirection and unfold over time. Being the designated architects of a firm's strategy, senior management must fulfill six (additional) interlinked roles in strategic initiatives: alignment, choosing their leaders, sponsorship, mentoring, leverage of institutional capital, and dealing with legacy systems. The leaders of strategic initiatives face contexts (a) characterized by conflicts, (b) where their responsibility exceeds their authority, (c) with ongoing alignment, and (d) that demand extreme flexibility. Because alignment is a dynamic concept, the leaders need to continually negotiate the boundaries of their tasks, and manage the expectations of senior management and other power brokers in the organization. Resource bricolage, negotiation with internal markets, and continual aligning are central to their success. Human resource functions in the organization have a central role to play in the development of leaders of strategic initiatives.
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Details
- Title
- Linking strategy and projects through strategic initiatives
- Creators
- Vadake K. Narayanan
- Contributors
- Martina Huemann (Editor)Rodney Turner (Editor)
- Publication Details
- The Handbook of Project Management, pp 27-41
- Publisher
- Routledge
- Edition
- 6
- Number of pages
- 15
- Resource Type
- Book chapter
- Language
- English
- Academic Unit
- Management
- Other Identifier
- 991021883398404721