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11/20/2019
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Value for its shareholders.Kaplan, R. S., & Norton, D. P. (2004). Strategy Maps. Harvard Business School Press.
Competitive advantage.Pearce II, J. A., & de Kluyver, C. A. (2015). Strategic Management. Business Expert Press.
Superior performance relative to competitors.Rothaermel, F. T. (2017). Strategic Management. McGraw Hill.
How a business is going to competeHow a business is going to competePorter, M. (1980). Competitive Strategy. The Free Press.
Plan for achieving one’s goals and objectives. Nickols, F. (2008). Strategy, Strategic Management, Strategic Planning, and Strategic Thinking.
Opportunities1. Forces that can be capitalized2. PESTEL Factors
Political, Economic, Social‐Cultural, Technological, Environmental, and Legal
Threats1. Forces that can cause disruptions2. PESTEL Factors
Political, Economic, Social‐Cultural, Technological, Environmental, and Legal
Strengths1. Forces that are unique to the
organization2. Core competencies: Skills,
operating capabilities & differentiators
3. Resources: People & Capital
, g , g
Opportunities‐Strengths (OS)Strategies• Using strengths to exploit
opportunities• Strategy
(O1, S2, S3)
Threats‐Strengths (TS)Strategies• Using strengths to combat
threats• Strategy
(T3, S1, S3)
Weaknesses1. Forces that limit an organizations
value proposition2. Capabilities, skills, capital
investments, etc.
Opportunities‐Weaknesses (OW)Strategies• Correcting weaknesses to
exploit opportunities• Strategy
(O2, W1)
Threats‐Weaknesses (TW)Strategies• Correcting weaknesses to
combat threats• Strategy
(T4, W3)
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d hid hiLeadershipLeadershipSets Vision & StrategySets Vision & Strategy
Mission, Vision & StrategyMission, Vision & Strategy
Not Only Not Only Top LevelTop Level
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DiscussDiscuss
DecideDecide
AssignAssign
GoGoGoGo
Three QuestionsThree Questions1 Wh t’ th P bl ?1 Wh t’ th P bl ?1. What’s the Problem?1. What’s the Problem?2. Who has the problem?2. Who has the problem?
h hh h3. Do we have the 3. Do we have the passion to solve it?passion to solve it?
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Who Has the Problem?Who Has the Problem?MEASURABLE ACCESSIBLE
DIFFERENTDURABLEMarketMarket
SegmentationSegmentation
SUBSTANTIAL
SegmentationSegmentation
2 Lack of Management F i h i S i
1 Lack of Change Management
7 Lack of Accountability
6 Focus Runs Out of Steam
WhyWhyStrategiesStrategies
FailFail
2 Faith in Strategies
3 Strategies are to Ambitious
f h
7 Lack of Accountability
8 Lack of Project Management
Lack of Financial4 Unforeseen Changes
5 Lack of Strategy Champions
9 Lack of Financial Management
10 Lack of Clear Measurable Results
10 Reasons Why Strategies Fail. (2013, September). Retrieved from 360Degree of Inspiration
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Change Mgt.Change Mgt.WHYWHY this strategy?this strategy?gygy
HOWHOW will we do it?will we do it?
WHAT will it impact?WHAT will it impact?
VISION Actionable Strategy Capabilities Incentives Resources Urgency Success
Lacking Vision
Actionable Strategy Capabilities Incentives Resources Urgency Confusion
VISIONLacking
Actionable Strategy
Capabilities Incentives Resources Urgency False Starts
VISION Actionable Strategy
Lacking Capabilities Incentives Resources Urgency Anxiety
VISION Actionable Strategy Capabilities Lacking
Incentives Resources Urgency Restraint & Resistance
VISION Actionable Strategy Capabilities Incentives Lacking
Resources Urgency Frustration
Source: Adopted from C.M. Russell Associates, 1999, LBL Strategies, LTD, 2001, and Performance Breakthroughs, Inc.
VISION Actionable Strategy Capabilities Incentives Resources Lacking
Urgency Apathy
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VISIONVISIONVISIONVISIONDrivesDrives
StrategyStrategyStrategyStrategy
MissionWhy do We Exist?
ValuesWhat’s Important to Us?
VisionWhat do We Want to Be?
StrategyWhat are We Going to Do?
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VISION
RESOURCES MEASURESSTRATEGY
Execution ProfessionalsExecution ProfessionalsProject/Program/PortfolioProject/Program/Portfolio ManagementManagement
VISION
STRATEGYRESOURCES MEASURES
PORTFOLIO
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PrioritizeProjects
Capacity Planning
Portfolio Mgt
Value Forecast
Schedule Work
Identify Oppor.
Program Execution
Assess Value
Project Execution
Portfolio Portfolio
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Strategic Project PortfolioSub‐Portfolio or Domain 1
Domain 1aProjects & Programs
Domain 1bProjects & Programs
Domain 1cProjects & Programs
Sub‐Portfolio or Domain 2
Projects & ProgramsResourcesBudgets & Measurements
Projects & ProgramsResourcesBudgets & Measurements
Projects & ProgramsResourcesBudgets & Measurements
Sub‐Portfolio or Domain 3
Domain 3a Domain 3bProjects & ProgramsResourcesBudgets & Measurements
Domain 3aProjects & ProgramsResourcesBudgets & Measurements
Domain 3bProjects & ProgramsResourcesBudgets & Measurements
2 Lack of Management F i h i S i
1 Lack of Change Management
7 Lack of Accountability
6 Focus Runs Out of Steam
WhereWherePM’sPM’sHelpHelp
2 Faith in Strategies
3 Strategies are to Ambitious
f h
7 Lack of Accountability
8 Lack of Project Management
Lack of Financialpp4 Unforeseen Changes
5 Lack of Strategy Champions
9 Lack of Financial Management
10 Lack of Clear Measurable Results
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VISION
Leadership TeamLeadership TeamStrategy AlignmentStrategy AlignmentOrganization CommitmentOrganization CommitmentApprovalsApprovalsPrioritizationPrioritization
STRATEGYRESOURCES MEASURES
PORTFOLIO
Execution ProfessionalsExecution Professionals
PrioritizationPrioritization
Resource BalancingResource BalancingExecutive Status ReportingExecutive Status Reporting
PROGRAMS PROJECTS
Executive Status ReportingExecutive Status ReportingBusiness IntelligenceBusiness IntelligenceExecutionExecutionReprioritization MgtReprioritization Mgt
tion • Business Model
• People & ities • Technology• Internal Skills wth • Market
Strategies
Transformat Culture
• Vision & Mission
• Value Proposition
• Customer Experience
Capabili • Mergers &
Acquisitions• Operational• Customer Management
• Product Development
Grow
• Product Strategies
• Diversification Strategies
• Branding• Innovation• Quality
• Technology• Distribution Structure
p Q y
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06 TransitionIssue Close-outOperations OwnershipProject Closure
01 InitiationJoint Planning Session (JPS)Resource AlignmentBaseline Execution PlanExecutive Sign-off
Execution Execution LifecycleLifecycle
04 Develop & Test
05 Go-LiveControlled TransactionsHypercare Management
03 Design
02 DiscoveryScope: Define & DocumentScope ValidationFunctional SpecificationsBusiness Requirements
04 pApplication ConfigurationInterface DevelopmentUnit/System/Integration TestUser Acceptance TestUser TrainingOperations Setup
03 gApplication DesignInterface DesignOperational Design
VISION
STRATEGYRESOURCES MEASURES
PORTFOLIO
PROGRAMS PROJECTS
OUTCOMES
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REPORT• Strategic Leadership Reports• Quantitative Results• Control Issues• Organization
Communications
PRIORITIZE• Strategic Projects/Programs• Resource Allocation• Organizational Focus
PortfolioPortfolioMGTMGTVAILDATE
• Validated Learnings• Actual vs Estimated
Measurement KPI’s
EXECUTE• Programs & Projects• Applied PM
Methodology
CONTROL• Schedules & Resources• Budgets & Scope
• Risks & Quality• Other PM Functions
Making Strategy Work is More Difficult Making Strategy Work is More Difficult Than The Task of Strategy MakingThan The Task of Strategy Making
HrebiniakHrebiniak, L. G. (2010). Making Strategy Work. Wharton School Publishing., L. G. (2010). Making Strategy Work. Wharton School Publishing.