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PM Essence

Seamless Strategy Execution Through Project Management Practices

By - Ranan Bhattacharya
To meet the ever changing market needs, businesses needs to transform on a continual basis to stay relevant and be profitable. One of the ways to bring in transformation is to use Business Process Management (BPM) and Project Management Practices (PMP) working together to achieve competitive advantage. This article tries to look at how an excellent collaboration of ambitious mission (BPM) and effective methods (PMP) can be used for overcoming the execution challenge and drive growth.
Let us now look at details, BPM consists of three cornerstones: Precise planning, Effective execution, and Efficient Monitoring & Controlling. The process models designed in its architecture are not just stand-alone activity diagrams but are end-to-end business processes coupled with corresponding organizational roles, application systems, and operational risks and controls, creating a robust monitoring & controlling mechanism. By leveraging the power of Business Process Execution Language and Service Oriented Architecture these process models can be automated and integrated through a common workflow.
Thereafter a specialized component called Business Activity Monitoring (BAM) can be hooked on. BAM facilitates configurable dashboards which present data on process KPIs namely Turn Around Time, Costs, and Productivity. Any unwarranted spike or drop in any of the measurement charts of the dashboards could raise an alarm immediately and allows the management to look into the matter almost in real time.
On the other hand, an efficient project management plays a pivotal role in translating razor-sharp strategy formulation into an impeccable strategy execution. The execution of the BPM-led project falls entirely in line with the principles defined in the Project Management that bundle everything from Quality Management by controlling iron triangle of Scope, Time, and Cost to Risk Management, and Communication Management.
Now the question may arise why and how PMP would be used seamlessly with BPM to execute the strategy? The answer to this question lies in the fact that, the five process groups defined in Project Management Body of Knowledge (PMBOK)* for Project Management stays exactly in line with the broad five areas of an effective Business Process Management. Also, when nine knowledge areas are to be applied across all the process groups, every possible activity with regard to any management is covered barring no aspect by any degree. Starting from a minor activity to a major task, all the things are captured while using the principles and adopting the practices of Project Management. When BPM strategy is leveraged by the guidelines given in the PMP given by PMBOK* guide, it can come up with a very robust roadmap of seamless transition of business strategy into excellent performance execution.
The table mentioned earlier demonstrates this concept.
In today's blink-and-miss era, companies need to innovate not only smartly but quickly and take their innovations to market before their competitors even begin to realize the new wave of demand. BPM facilitates launching of the targeted products by giving three key advantages: greater efficiency, business visibility, and process agility. It removes complexities, inconsistencies, and inadequacies from process understanding, definition, development, deployment, execution, monitoring, and controlling with a unified process engine. Project Management principles and practices help BPM stay on track and make sure of seamlessness in its execution. Hence, BPM is an approach of bringing about a solution of a problem or setting up a system for the bestpractices. Project Management, on the other hand brings in discipline to the best-practices defined and performed. So, a combination of great idea (BPM) and rich discipline (PMP) is an ideal answer to win any market in this fiercely competitive environment.
* article is based PMBOK version 4