Please respond to both POST1: and POST2: with at least 200 words and APA Cited reference.
- Chapter 1 in Project Management Toolbox
- Part 1, Section 2.4 in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th edition
- Chapter 3 in Lock, D. (2012). Project management. Burlington, VT: Gower.
- Ozmen, E. (2013). Project management methodology (PMM): How can PMM
serve organisations today? Paper presented at PMI® Global Congress
2013—EMEA, Istanbul, Turkey. Newtown Square, PA: Project Management
Institute. Retrieved from https://www.pmi.org/learning/library/project-management-methodology-serve-organizations-5803
- Project Management Institute (2016). Connecting business strategy and project management. Retrieved from https://www.pmi.org/learning/thought-leadership/series/benefits-realization/connecting-business-strategy-project-management
- Wyss, S. (2013). The perfect methodology—a tool, not a burden!
Paper presented at PMI® Global Congress 2013—EMEA, Istanbul, Turkey.
Newtown Square, PA: Project Management Institute. Retrieved from https://www.pmi.org/learning/library/project-methodology-tool-development-technique-5785
- Zwikael, O. & Chih, Y. Y. (2014). Project benefit management:
formulation and appraisal of target benefits. Paper presented at
Project Management Institute Research and Education Conference,
Phoenix, AZ. Newtown Square, PA: Project Management Institute. Retrieved
Creating a PM Toolbox
There are three major steps in creating a PM Toolbox.
These steps include securing strategic alignment; customizing the PM
Toolbox; and improving the PM Toolbox continuously (Martinelli &
Milosevich, 2016). An organization must utilize all three of the steps
in order to create a beneficial, strategically-aligned PM Toolbox.
Strategic alignment is essential as it helps to ensure that an
organization correctly allocates its resources (Wakeman, 2019).
Characteristics of Strategically Aligned Toolboxes
Strategically aligned toolboxes have many
characteristics. The characteristics are tied to the organization’s
core business strategy. According to Martinelli & Milosevich
(2016), an organization that has a Best-Cost business strategy will
utilize a Performance-Cost Driven PM Toolbox. The Performance-Cost
Driven PM Toolbox focuses on both of a project’s performance and cost
elements. This type of Toolbox includes the following characteristics:
- Central role and priority belong to cost-performance tools
- PM spends a majority of time managing performance requirements and cost
- Performance and tools are the primary basis for decisions (Martinelli & Milosevich, 2016)
Impact of Core Business Strategy on PM Toolboxes
An organization’s core business strategy impacts the
choice of PM Toolboxes. Martinelli & Milosevich (2016) state that
the “business strategy drives the project strategy, which in turn drive
methods and processes, which influences the PM Toolbox design” (p. 4).
For example, an organization that has a differentiation business
strategy would emphasize getting their products to market quickly.
Thus, the organization would utilize a Schedule driven PM Toolbox
(Martinelli & Milosevich, 2016).
Martinelli, R.J., & Milosevich, D.Z. (2016). Project management toolbox: Tools and
techniques for the practicing project manager (2nd ed.). Hoboken, NJ: John Wiley and
Wakeman, D. (2019, December 5). 3 Steps to align project and strategy. Retrieved from
Module 1: Discussion
In this discussion we are talking about the Project Managers Toolbox
or PM Toolbox. A PM’s Toolbox can be anything from a program to a job
aide, anything to help with managing a project. The three
characteristics of strategically aligned toolboxes that are important
for the success of any project are alignment with strategies,
customization of the Toolbox, and continuous improvement. (Martinelli
& Milosevich, 2016).
- Alignment with strategies – the PM should know and understand the
company’s strategic business goals. They need to know why a project is
being undertaken. This helps the PM to eliminate any obstacles.
(Martinelli & Milosevich, 2016).
- Customization of the Toolbox – there are three options either the
size of the project (complexity of the project), the family or group
that pertains the project, or the type which uses both size and family
together. (Martinelli & Milosevich, 2016).
- Continuous Improvement – As things change over time each toolbox
must continually be improved upon and updated. (Martinelli &
A company’s core business strategy will impact the choice of the PM’s
toolbox and the characteristics of it. Once the PM has the knowledge
it needs about the company’s business strategies, they will utilize that
information to create the appropriate toolbox for the project they are
working on. For example, if one PM has identified his project as being
small and having little complexity to it then the list of items in that
toolbox could be limited to only several items. But another PM’s
project is determined to be a project that will take 7 years to
implement with multiple groups, programs, and people then the toolbox
needed to manage that project could be by far more.
Martinelli, R. J., & Milosevich, D. Z. (2016). Project management
toolbox: Tools and techniques for the practicing project manager (2nd
ed.). Hoboken, NJ: John Wiley and Sons.