3.3. Strategic Alignment
The project initiation phase is the first phase within the project management life cycle, as it involves starting up a new project. Within the initiation phase, the business problem or opportunity is identified, a solution is defined, a project is formed, and a project team is appointed to build and deliver the solution to the customer. A business case/proposal (sometimes called a feasibility study) is created to define the problem or opportunity in detail and identify a preferred solution for implementation. The business case/proposal includes:
- A detailed description of the problem or opportunity with headings such as Introduction, Business Objectives, Problem/Opportunity Statement, Assumptions, and Constraints
- A list of the alternative solutions available
- An analysis of the business benefits, costs, risks, and issues
- A description of the preferred solution
- Main project requirements
- A summarized plan for implementation that includes a schedule and financial analysis
SMART Project Objectives
In the early 1980s, George T. Doran introduced the SMART set of criteria for projects, goals and objectives. SMART is an acronym for Specific, Measurable, Assignable, Realistic, and Time-Related. The smart criteria have been applied in many different areas of management, including project management. Let’s take a look at each of Doran’s criteria as they apply to project management.
Specific – A project needs to be specific about what it will accomplish. Unlike many organizational goals, the goal of a project should not be vague or nebulous. An organization may want to “make London, Ontario, a great place to live,” but its projects need to focus on a specific goal. For example, a more specific goal would be to build a downtown farmers’ market. A project that is specific is one that can be clearly communicated to all team members and stakeholders.
Measurable – How will we track the project’s progress and success? What measurable changes will we see once the project is completed? These measures should be quantifiable, meaning we can count or measure them.
Assignable – Who will be responsible for the work? Do we have people in our organization with the right skills, or do we need to hire external experts?
Realistic – Can our organization realistically achieve this project with the talents and resources we have? This is crucial for businesses of all sizes. For example, while it might be exciting to open a new branch of our company, is it realistic to do so given our current resources?
Time-related – When will the project be completed, and how long will it take? These criteria are very useful when defining a project. If a project description doesn’t meet all these criteria, it’s time to reassess and ensure it’s truly a project and not a broader program or strategic goal.
Practice
“4.2. Strategic Alignment” from Essentials of Project Management by Adam Farag is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted. Modifications: removed financial considerations.
