The Value of Projects for Businesses

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The Value of Projects for Businesses
Jose Daniel Esterkin, CEO, Argentina

Projects are of great value to companies. Here are some tips to prove that.

We could say that from the business point of view, implementing a project is the way companies behave to become more competitive. How do companies evolve in a competitive market? Implementing projects. How do they differentiate from the competitors? Spending less, selling more, augmenting their market share. How do the achieve that positioning? Through the implementation of successful projects. If you want to transport your company from a point A to a point B, where B is a new version of the company with more products, more services, more efficiency, more market share, you have to implement a portfolio of projects.

If your company competes in a free market, the only way to survive, as Charles Darwin said, is to respond to change and this is done through successful projects. On the other hand, if your company is a market leader in technology, processes, efficiency, it will implement innovative projects that others will have to imitate.

So, if you are proposing a project in your company, you have to answer to the following question before you present it to the Board: "What business objective does this project pursue?".

This is some advice for presenting your project at the right time to the right people:

- Translate project achievements to business achievements: try to identify project goals and critically analyze whether they are algigned to business goals. You need to know the company strategy for this.

- Make projects smaller: projects are sometimes too big. Breaking down larger goals into smaller goals helps create focus for both teams and stakeholders. Use iterations as a technique to make projects smaller. This will help you to slice the project to deliver business value and learn from customer feedback sooner.

- Connect your stakeholders: there are silos in the organization sometimes because a project becomes a rat race to get it done as per the promised timelines. But in a value-driven organization you want to focus on delivering value rather than being on time. This principle must be explained to sponsors. Instead of fixing on dates, focus on delivering a working product soon in the project.

"Improving Business Performance", Ramani S., 2016.

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Other Views by this Author: The Role of a Facilitator for a Project Manager | Risk Blindness in Project Management | A Project Manager Must Have Analytical and Intuitive Skills, do You Have the Two Halves?

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