Strategy execution, in its simplest terms, is all about an organisations ability to develop business strategies and execute or deliver programmes and projects that ultimately meet those strategies. With the advance of thought leadership in areas like portfolio management (see PMI’s latest collection of reports) and maturity in programme and project management techniques, processes and tools, organisations can now work towards making every programme and project activity account.
Traditionally organisations have focused most of their effects in developing programme and project management capability – “doing the projects right”. Now there is another angle – “doing the right projects” – which focuses on making sure the organisation is delivering the right blend of programmes and projects which will meet the objectives of the business strategies. No longer will organisations be carrying out project work that doesn’t change that business for the better.
TwentyEighty Strategy Execution have launched the latest top ten trends in the area of strategy execution. You can download the full report here.
- Agile Is Evolving Enterprise-Wide
- Execs Are Recognising the Need For Experienced PMs
- The State of Organisation Is Moving Toward Flat and Lean
- Millennials Are Changing Leadership
- Interdependencies: Silo Walls Are Growing Thinner
- Design Thinking Is Permeating Project Management and Beyond
- Big Data Will Drive Complexity
- Continuous Lack of Governance Hampered by Lack of Resources
- PMOs Are Becoming Strategic Partners
- Business Analysis (BA) Is Being Elevated
A number of the key trends focus on the ability of the organisation to change to make the most of strategy executing practices. Organisations becoming flatter and leaner:
Smart organisations are finding a balance between hierarchy, bureaucracy and innovation by pushing decision making out to the edge.
Breaking down the silos between departments:
When asked to identify the single greatest challenge to executing their company’s strategy, 30 percent of managers cite failure to coordinate across units, making that a close second to failure to align (40 percent).
Improving governance arrangements:
Governance failures are a key place in which strategy execution alignment falls down, yet not many organisations are willing to admit it. All too often, “go – no go” decisions are seemingly made at random without consideration for resource requirements.
And how to use ‘big data’:
The challenge is what organisations can do with the deluge of information to make better decisions faster.
The trends also focus on the key roles required to successfully execute the strategy – project managers, PMO and Business Analysts. There is a recognition that project managers have a key part to play in improving strategy execution:
Demand for experienced project managers and leaders is growing faster than the market can supply them. According to a recent TwentyEighty Strategy Execution Project Manager Salary and Talent study, 83 percent of project organisations reported that they were understaffed, with 44 percent of the open positions for senior project professionals.
Design thinking and innovative practices are not the reserve of the R&D and product development departments. Each part of the organisation, including project management, are challenged to challenge the status quo of working:
Today, smart organisations encourage innovation at all levels, meaning everyone should look at what they do and ask how they can iterate and innovate, even on a small scale.
Agile practices are also included as a way of working that helps that design thinking and improving on the pace of delivery:
The need for speed is forcing us to change the way we do business. As a result, Agile adoption is growing. Smart organisations that have adopted Agile methodologies find that enterprise-wide agility is about questioning routines and identifying opportunities.
The roles of the PMO and Business Analysts are also highlighted as key components of improving strategy execution:
The PMO ensures the execution is aligned with the strategy. Forward-thinking organisations have already elevated the PMO to that role.
… leaders must embrace the BA’s role and elevate it to communicator and facilitator, going beyond just gathering requirements.
To find out about the trends in more depth, download the report today.