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As a great deal of strategy execution takes the form of strategic projects, how you align these projects ultimately determines the success or failure of your strategy. Here, we discuss four executive challenges executives need to tackle to successfully manage a strategy in a project-based world.

Conceptual approach entailing illustrative case-examples

We find four executive challenges to tackle in order to successfully manage a strategy in a project-based world.

As the study draws upon conceptual arguments, future studies need to assess the verisimilitude and boundary conditions of the challenges.

By thinking of a strategy through a project-based lens, and understanding the challenges thereof, executives should be better able to bridge strategy formulation and execution.

A project-based approach to strategy is not necessarily limited to a for-profit sector; NGOs and governmental organizations may similarly learn from and draw upon a project-based approach to strategy.

As little research within strategy has explicitly conveyed a project-based lens, the study emphasizes a novel approach to strategy.

The purpose of this conceptual paper is to describe and explain how organisations use internal projects to implement organisation-level strategy objectives.

Theory development with an emphasis on explaining key constructs and their mutual relationships. The theoretical contribution is represented in a diagram along with a detailed verbal account.

The paper develops a dynamic, cross-level framework to illustrate the organisational processes and outcomes that determine project-based strategy implementation within a single organisation. The interplay between the base organisation and the project, and benefits realisation were singled out as key future research areas. The proposed framework engages with central discourses in the fields of project management, strategic management, innovation studies, knowledge management and organisation studies.

Only the contours of an organisation-level theory of strategically motivated internal projects are outlined. Future research must elaborate on the complexities, the non-linear relationships and the boundary conditions that follow from the proposed framework.

Managers are alerted to the strategic role of internal projects, how these projects help connect strategy and performance and what the accompanying organisational processes and outcomes look like.

The paper constitutes an early conceptual treatment of strategy-driven internal projects as a distinct project category, thus addressing a major knowledge gap in project studies. Organisational project-management theory is extended with suggestions for future research.

The requirements of various participants of a project may conflict with the strategy of the project's parent organization and, consequently, the project may form its individual strategy independently, to better align with the factors in its environment. The purpose of this paper is to describe the formation of the strategy of a project as a response to the project's environment, providing insight into a project's strategy formation, where the project does not merely reflect the strategy of the parent but where the parent is only one influential actor (of many) in the project's environment.

To increase understanding of the relationship between the project's environment, the strategy of the project‐based firm and the strategy formation of a project, the authors analyze a project of a metallurgy firm in an empirical case study. The authors use project literature and corporate venturing literature, look for the dimensions of project strategy and the factors in the project's environment and study how the factors in the environment shape the project's strategy.

The analysis suggests that factors in the internal and external environments affect the strategy formation with varying strength. The strategy of the case project was formed in micro‐level iterative processes, in interaction between dimensions of strategy of the project and factors in environment. The empirical case study suggests that a project initiated with strong influence of external factors has to face contradiction between the strategy and related influential factors in the parent organization of the project.

This paper contributes to our understanding of how the strategy of an individual project is formed through micro‐level processes that are related to external and internal factors that affect the strategy formation.

Construction strategies for competitive bidding and operations are used to avoid the consequences of poor schedule performance such as delay penalties. Flexible strategies in the form of options can increase project value if uncertain conditions cannot be adequately forecast before operations begin. However, project management purposefully manipulates the project performance that drives the use of options and thereby the value added by options. Therefore project management quality may influence option values. Seeks to address this question.

This research investigates the interaction of project management and option value by operationalizing a common use of real options in construction and valuing the option with different levels of project management quality. A simple but realistic dynamic simulation model of a project is described and exercised to reveal some impacts of project management on option value.

The results support a hypothesis that increased project management quality decreases option value and that real options in managing construction projects can be explained with real options theory. The model structure suggests causal explanations that are consistent with real options theory.

The results suggest that practising managers can significantly increase project value by structuring managerial flexibility and thereby improving their evaluation, development, and use of flexibility. However, ignoring the multiple means of managing uncertainty that are often available can distort valuation. Results also suggest that researchers of strategic flexibility in projects should consider multiple forms of uncertainty in modeling options. Increasing the number of available options or the effectiveness of options in a multiple‐option environment can decrease individual option values.

Previous literature on project strategy has adopted the narrow view that a project is to be conducted under the governance of a single strong sponsor or parent organization. The purpose of this study is to provide a critical analysis on prior project management (PM) literature addressing different context‐specific strategies of single projects.

Literature analysis.

There are two important determinants in the project's context that affect the strategy of a single project: a project's autonomy in its environment and the complexity of project's stakeholder environment. Based on these two determinants, we characterize four types of alternative positions that projects can have in their context: parent's subordinate and autonomous projects that occur in a stakeholder environment that is not complex, and projects with weak and autonomous positions in a complex stakeholder environment. The developed project strategy framework is applied in the context of innovation projects. The analysis results include strategy contents for different types of innovation projects in terms of the project's direction and success.

This study contributes to PM research by broadening the focus from mere tactical‐level projects towards projects as strategic entities, and by suggesting the management of projects differently in different contexts. Further, theoretical and empirical research is proposed on both testing the suggested framework and elaborating it for different project types.

The paper opens up avenues towards the development of new and context‐specific PM bodies of knowledge.

The purpose of this paper is to discuss in depth the factors that lead to misalignment between the project management (PM) and the business strategy by investigating four case studies in the telecommunications industry in Saudi Arabia.

Due to the limited research on the subject of the alignment of PM and business strategy, the methodology used in this research was a case study in depth interview.

The paper highlights the important factors that affect the process of aligning the PM to the business strategy. The companies that have strong alignment between the business strategy and the PM show successful projects outcome while the companies that have mismatch alignment show less successful projects outcome.

The paper has investigated four telecommunications companies only. However, more companies will be better to compare the finding. Due to time constrains, the research has studied one project in each company. Each project was supporting one of the company's business strategies. More projects and business strategies will lead to clear picture of the alignment. Access to executives’ managers and CIO's was difficult. Several meetings were cancelled without short notice.

This paper helps the companies to implement their business strategies with embedding their projects in the overall strategy. Also, helps the PM team to execute the projects in a strategic way.

This paper contributes to the literature with a clear explanation of the concept of the alignment and provides a framework to ensure the alignment between the large PM process and the business strategy is achieved.

This paper examines three issues. First, do multiple possible paths to high versus low new product performance (NPP) occur among European, high-tech, industrial manufacturing firms? Second, what are the upstream influences on high NPP? For example, what background factors affect the levels of the KSFs? Third, do consistent country-level differences occur among Austrian, German, and Swedish executives in their evaluations of antecedents and high-tech NPP? To probe these issues, a total of 771 chief operating officers and project managers participated in face-to-face long interviews (McCracken, 1988) covering 241 less and 264 more successful than average industrial NPD projects. The empirical findings support the propositions that: (1) multiple paths lead to high versus low NPP; (2) unique antecedent variables affect the KSFs for high NPP; and (3) for several upstream and direct influences, consistent national differences occur among executives’ assessments of NPP. A key implication of the study for NPD executives is to recognize the possibility of alternative paths leading to successful NPD.

This study examines the variety of cooperative strategies used to organize the international co-production of motion pictures. Motion picture production is a high-goal singularity, project-based industry in which the structure of relationships between companies involved in cooperative strategies is highly visible. Working from existing theories of co-production and drawing on the strategic joint ventures literature, I examine archival data, first for evidence of the strategies predicted by theory, and then for project participation strategies that theory does not account for. I identify four strategies on the basis of the ways that firms participate in international co-productions. A large number of relatively short-lived firms enact strategies of supplying resources and skills to the persistent firms dominate the industry. Two types of persistent firms cooperate with both direct competitors and complementors but pursue different markets, whereas a third type avoids cooperation with peers. The observed strategies constitute a hierarchy of strategic roles, and thus demonstrate the complexity of strategic behavior involved in project-based production.

The abundance of technological innovations has dramatically increased the prominence of digital transformation processes in many organizations and sectors. At the present time, digital transformation is first and foremost depicted in the literature as a strategy carefully elaborated and deployed by diligent executives. This stands in sharp contrast with contemporary organizational theory, and most especially the strategy-as-practice research stream, which has increasingly underlined the capability of middle managers to weigh upon strategizing processes. An empirical inquiry conducted in a major aeronautics company reveals that digital transformation can be largely driven by middle managers in charge of specific technological projects, who operate in the absence of a well-defined, overarching strategy. Drawing on the sociology of translation, the chapter identifies four tactics used by middle managers to ensure that their projects make it to the strategic agenda of the firm. Ultimately, the findings suggest that digital transformation processes cannot be solely understood as strategic endeavors, and can result from the addition of disjointed technological projects driven by middle managers instead.

Construction project management outcomes in the literature typically portray significant deviations from expected outcomes. Various theories from studies that focus superficially on causes of project cost and time overruns rather than root causes have not addressed this problem. The need is for a better understanding of how procurement strategy provides a fundamental means to address this problem. The purpose of this paper is to examine the procurement strategy used to deliver a new universities project in South Africa within budget and to ascertain its influence on the outcomes.

A case study was designed to provide a comprehensive and intensive methodology to identify and examine the construction procurement strategy and its influence on the project outcomes. Document analyses and semi-structured interviews were used to collect data on the construction procurement strategy and outcomes from the client team.

The evidence brought forward demonstrates that the successful outcome was largely a consequence of the client team, procurement strategy and systems of delivery. However, the collaborative procurement strategy formed the basis of the successful project delivery and outcomes. A general observation from the data is that an appropriate construction procurement strategy developed by an experienced client team and proactively implemented by an integrated delivery team working collaboratively is likely to achieve the intended project outcomes.

The findings show three critical keys to achieving intended outcomes – people, procurement strategy and systems of delivery at the governance, portfolio, programme and project management levels.

The value of this paper lies in using a comprehensive methodology to study the relationship between procurement strategy and outcomes. The findings can be applied by client teams to achieve better outcomes and value for money in infrastructure projects.