3 Main Strategic And Business Management Skills For PMs

strategic and business management skills

3 Main Strategic And Business Management Skills For PMs

 

LAST UPDATED ON: 27TH AUGUST, 2019

 

Strategic and Business management skills involve the ability to see the high-level overview of the organisation and effectively negotiate and implement decisions and actions that support strategic alignment and innovations. This allows the Project Manager to understand the entire organisation and its needs. It then allows the Project manager to formulate policies that will allow the project to align with organisational goals.

 

3 Main Strategic And Business Management Skills For PMs

 

Some of these activities include a working knowledge of other functions such as finance, marketing and operations. Strategic and business skills may also include developing and applying pertinent product and industry expertise. This knowledge is also known as domain knowledge. 

 

The Project Manager should be knowledgeable enough about the business to be able to:

Seobility SEO Tool

 

#1 BUSINESS ASPECTS

One of the strategic and business management skills a Project Manager needs is to understand how the project affects different aspects of a business. He should be able to educate the functional Manager on how his business activities will be impacted. This will allow the Project Manager to assist the functional manager in question with change management processes.

 

YOU CAN ALSO READ  How to Apply Project Integration Management

#2 PROJECT DELIVERY STRATEGY

The Project Manager as part of his strategic and business management skills need to collaborate with the Project Sponsor, team members and Subject Matter Experts to develop deliverable acceptance criteria for products and services of the project. He has to make sure that the developed tools are acceptable to end-users. This will ensure that deliverables are acceptable to end-users.

 

#3 BUSINESS VALUE

The Project Manager has to make sure that he implements that strategy in such a way that it will maximize the business value of the organisation. The Project Manager has to work with all stakeholders in order to get buy-in for the project. His main focus is to ensure that the project assists the organisation to achieve strategic goals. 

 

In order to make the best decisions regarding the successful delivery of their projects, project managers should seek out and consider the expertise of the Operational Manager who runs the business in their organisation. These Managers should know the work performed in their organisation and how project plans affect that work. 

 

The more the Project Manager is able to know about the subject matter, the better.

 

 

Now your take on this argument.

We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.

 

You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.

 

YOU CAN ALSO READ  5 Emerging Practices In Project Integration Management

Click here to Download 5 E-Books that I have taken time to prepared for you.

These E-Books contains formulas that have helped many of my students to nail the PMP Exam. You can also make use of this E-Books. While you are using it if you have questions to ask me concerning the Formulas, feel free to shoot me a mail. I am committed to assisting you to nail your PMP exam. It’s a pledge. You can always count on me as a friend. 

 

PS: For like seven years since I started blogging I have tried many platforms and tools. Some worked and some of them performed below expectation. Here are some of the tools that I will gladly recommend for you any day, any time.

 

YOU CAN ALSO READ  4 Essential Elements Of stakeholder Analysis Matrix

BEST AUTO SEO FOR JUST $1

BEST KEYWORD FINDER BY MANGOOL

BEST HOSTING AND DOMAIN SERVICE

BEST HOSTING IN NIGERIA (AFFORDABLE)

BEST FOOD SUPPLEMENTS

 

You can also download our Mobile App here.

Domain names for just 88 cents!How Namecheap Hosting saved my Blogging Career 1
Action Point.
You need to confirm your subscription by clicking on the link sent to you. You can check the spam folder for it. Add us to your mailing list to receive directly from us.

Adeniyi Salau is a Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

CommentLuv badge