For decades project teams focused on getting the job done within budget and in time. This approach is valid now and will be for the time being, yet, increasing dynamics in competition change the rules of the PM game. Now, getting the project done within a set of boundaries is not enough anymore.

Project managers all over the world are sharing the same fate: they feel the pressure of having to add additional value to the product no matter if it is being intended for the public market or specific customer project. Projects are always vulnerable to be chopped for reasons far beyond the project manager’s control. A new breed of PMs have figured out that certain leadership techniques and market insights have a strong impact to the long-term success of any project.

No matter what approaches and methodologies you adhere to, projects are normally managed operationally or strategically and all that matters is the result it brings to the enterprise (or the customer) and to its position in the market. The combination of operational project management and market insights lead to a holistic strategic approach to project management. It focuses on vision, competitive advantage and adaptability, still embracing the methodologies of traditional project management with the right pinch of added value.

At the fundamental level of strategic project leadership is business strategy which needs to be communicated as a project vision to all stakeholders. That way stakeholders understand the project manager’s commitment to the project. Finally, a vision must be transferred into competitive advantage:

1. Project managers are business leaders – Share the responsibility of building business results with project managers, don’t just let them accomplish a task. Let them be part of the business vision.
2. Focus on projects that have the highest potential to contribute to the overall business strategy. Manage the portfolio according to the long-term competitive advantage of the enterprise or the client. Yet, don’t allow projects that are not aligned with the chosen strategy to fall behind.
3. Identify the competitive advantage of every project (or service) in the portfolio and formulate a project strategy in capturing the marketplace. With strategic project leadership there is no single approach for all projects, instead each demands an adaptive and efficient approach.
4. Communicate the project vision and cultivate a project team that believes in the vision’s energy, excitement, and commitment. People have to believe on a sustained, day-to-day basis about their contribution to the project.

Additionally, to increase chances of success of future projects apply conventional techniques to strategic project leadership like creating a hierarchical plan (what I call the SPOT method: Strategy and spirit > Processes and Organization > Tools) and establish effective project monitoring possibly adjusting existing project quality management techniques to the strategic project leadership approach.

Correctly implemented strategic project leadership can be extremely efficient, but remember that it is all about identifying the product’s competitive advantages, marketing this vision to all stakeholders (and the project team as part of the stakeholders) and the overall strategy for delivering the project.