Top management support is now thought to be the most important critical success factor. However a conceptual chasm has led to a lack of engagement between the top management and project management communities and high project failure rates have resulted and strategic goals have not been realised. A study of publicly-funded projects in the State of Victoria illustrates these issues and their significance. Strategy and the realisation of strategic goals have been introduced as a unifying concept with the potential to bridge the gap. Project management, portfolio management, programme management and project governance were reviewed to consider their role in strategic success and a model was developed to bridge the conceptual chasm. The highest priorities for developments in each of these fields were suggested to bridge the gap in practice. Programme management was highlighted with recommendations to develop more effective frameworks to facilitate strategic conversation and adaptation to overcome uncertainty arising from incomplete information.
|Title of host publication||The project as a social system : Asia-Pacific perspectives on project management|
|Editors||H Linger, J Owen|
|Place of Publication||Australia|
|Publisher||Monash University Publishing|
|Number of pages||20|
|Publication status||Published - 2012|