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For different companies, aligning the toolbox with the business strategy may be cost-driven, schedule-driven or performance-driven. aligning the toolbox with the business strategy The best strategy that focuses on cost also translates to the level of the project. For example, the deployment time and the breakeven time are shorter for Project A’s but longer than Project B’s. Meaning that the focus cost is higher in Project B but lower in Project A. Such a philosophy governing cost will be closely weaved with the project’s need to lay emphasis on goals of performance. In this case to shape a toolbox that is driven on both cost and performance would require a balance of well combined cost-performance tools as a priority. Whether the customer’s voice is formal or informal, their tools, as well as the characteristic requirement tools, are important in delivering customer expectations as cost baselines and estimates are. To another company and its customers, service delivery within the schedule is important as customers cannot be satisfied when you do not deliver as promised. Still, goals of scheduling are subjugated to both costs and performance.
When PM toolboxes are aligned to the strategy they determine the type of tools to be used based on project types, sizes, and families. It is important first to understand how a tool can back up the delivery of a project. With size, as the project increases in size so do the activities, interactions, and deliverables. More effort is needed to coordinate the rising number of interactions. Companies, for example, having three size-types; small, large and medium use dollars or person per hour budgets to determine size. When customizing by family, as long as the capability is new, the uniqueness increases uncertainty and hence more flexible and supporting tools. Technology industries fit well in this case as a family of developing a new product would face similar issues as well as IT projects, marketing, and manufacturing projects in that particular industry. A project may be administrative type, unique, routine or technical. In this case, similar tools are used for example the Work Breakdown Structure (WBS), however, when used they are structured differently and also differ in their utilization methods…
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