Linking Organization's Strategy and Strategic Planning with Portfolio Management

Linking Organization's Strategy and Strategic Planning with Portfolio Management

Alfonso Bucero (Bucero, Spain)
DOI: 10.4018/978-1-5225-2151-8.ch003
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Abstract

The strategy of any organisation and strategic planning are related to Portfolio Management. This chapter is focused on the relationship between the Organization's strategy and portfolio management. The purpose of this chapter is to explain the importance of strategic planning and its relationship with portfolio management. The focus of this chapter is to explain first the main elements of the organization's strategy based on the research from different authors and researchers plus the author's experience, then to explain the relationship between strategic planning and the portfolio management process, following with the explanation of the portfolio management context elements, defining the concepts of the mission, vision and objectives. The use of a case study tries to add value and achieve a better understanding of all the concepts explained in this chapter.
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Background

Organizations implement only 63% of their strategies' potential value according to Mankins and Steele. On the other hand, 66% of corporate strategy is never implemented (Mankins and Steele, 2005). The major focus on strategy research has been on their formulation (Grundy, 1998; Morris & Jamieson, 2005). But according to Hrebiniak (Hrebiniak, 2013), it is more difficult to make strategy work than to make strategy. Then, organizations have some room for improvement in terms of linking their strategy with their project portfolio.

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