Other related sections of the PMKI:
Strategy is the link between the organizational objectives, and the achievement of those objectives by the organization's management. Defining the organization's objectives is a key part of the organizations governance processes, the objectives describe the purpose of the organization and what it is intended to achieve. Developing the objectives is the responsibility of the governing body (eg, the Board of Directors). The purpose and objectives of the organization generally remain constant for extended periods.
The organization's strategic plan describes how each strategic objective will be achieved. Given the environment the organization operates is will be constantly changing, the strategic plan is a dynamic document that adapts to opportunities and issues to define how the various aspects of the objective will be achieved. The strategic plan is developed jointly by the governing body and the organization's executive management.
The strategic plan prioritizes, and describes how and when each strategic objective will be achieved. Sub plans (business, program, project etc) are then developed to define at a greater level of detail how specific elements of the overall strategy will be accomplished. Each of these sub-plans should in turn define the objectives the plan is seeking to accomplish, and how these will help achieve the strategic objectives of the higher plans but are more specific. Ideally, all of the objectives align and the lower level objectives defined in sub-plans aggregate up to achieve the strategic objectives of the organization.
Art:Strategy in a VUCA world. Strategy formation has two aspects, one deliberate, the other emergent. The challenge for PMOs and portfolio management is to engage with the paradox between implementing the organization's strategy and adapting the strategy to deal with emerging challenges.
Blg: The strategic management of projects. Organizations need to be able to effectively manage projects. Traditional project management is not enough.
Blg: The failure of strategic planning. Projects struggling for management support are one of the key indicators of a failed strategic management process.
Art: Performance Management. Consistency of purpose within and across the organization provided the framework against which performance can be measured and is key to the realization of value.
WP: Strategic Alignment. The organizations strategic plan describes how each strategic objective will be achieved and projects deliver the ability to achieve the required changes.