BUS605: Strategic Project Management

The first step of the project planning framework entails finalizing the definition of and agreement on the project's measurable organizational value, or MOV. Although an in depth discussion of a project's MOV was provided in Chapter 2, it is important here to focus on a few salient points. First, the project's MOV must be defined and agreed on before proceeding to the other steps of the project planning framework. The project's MOV provides a direct link to the organization's strategic mission; however, as Figure 3.4 illustrates, a project's MOV links directly to the project plan. Therefore, a project's MOV acts as a bridge between the strategic mission and objectives of the organization and the project plans of individual projects it undertakes. The MOV guides many of the decisions related to scope, schedule, budget, and resources throughout the project's life cycle.