Translating Corporate Strategy into Project Strategy: Realizing Corporate Strategy Through Project Management

Value Management and Project Strategy

Applying value management practices to key elements of project strategy is a distinctive part of the way the division manages its programs and projects. Value management in product development projects consists of two sequential processes, value planning, and value improvement and maintenance (Thiry 2004). The value planning process aims to understand the drivers of a product development project and optimize the strategy to deliver the agreed objectives. It comprises the following stages:

1. Review project objectives;

2. Evaluate a range of strategic options;

3. Define the scientific/commercial case for the development project.

In Discovery, the project team carries out a fundamental review, either during or just before ...