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Strategic Fit to Prioritize Projects
Nismy, Member
I was told by one of my colleagues that "Strategic Fit" should be one of the main criteria to use to prioritize projects (besides Risk, Technical Complexity, Economic Value, etc.)
So according to my understanding, "strategic fit" could also refer to how well a proposed project fits with the planned direction (strategy) of the organization.
Could anyone clarify this for me. And can anyone recommend a tool for such assessment of a project's strategic fit? Highly appreciated!
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Strategic Fit of ProjectsJaap de Jonge, Editor Good question. If you read the summary of "Strategic Fit" on 12manage, you can see the term is used in various disciplines to analyze the match between a broad range of objects:
- In strategy, to describe if and to what extent a strategy of a firm matches the external environment of the firm.
- In M&A, to indicate to what extent 2 parties of a merger are fitting together.
- In project management, to express the extent to which a project matches the strategy if a firm.
It really depends on the field the term is used in and the 2 objects of the fit. There is no "100% universal accepted truth" in defining this term. |
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