Risk Management

Published: 2021-06-29 06:56:36
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Category: Business

Type of paper: Essay

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Strategy Connection
Key Concepts and Interests
Most of the time, the foundational source of many project failures is the absence of strategic clarity. In fact, strategy does not always have the influence anticipated and the original objectives are often dissolved as the strategy transfers into implementation. Unfortunately, project managers find the preliminary momentum is disoriented before the anticipated benefits are grasped.
A reoccurring concern seems to be that project management is not as dependably successful as it should be in distributing bottom line progress when conducted in the business environment. In addition, when projects are finalized and completed on time and in congruence to the financial plan, the outcome is often less successful than the business necessitated or expected (Anderson & Merna, 2003, p. 388).
Through research, it became aware that most project managers acknowledge that managerial styles and strategies in their own culture are difficult enough to handle effectively. Therefore, interest in this topic derives from the reexamination of the studies of failure or poor performance in projects and how it relates to the various cultures and corresponds to strategy implementation. The conclusion of research conveys the causes often originate in poor management particularly at the front-end during strategy formulation, rather than poor downstream execution (Anderson & Merna, 2003, p. 389). Nevertheless, it is incredibly important and crucial to the success of an organization to communicate the real purpose behind every project and the organization's strategy.
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