Effective Global Project Management, Essay Example

Effective global project management is basis for sustainable competitive advantage. Important steps in the achievement of this goal involve regular meetings between program managers and the members of the executive board to facilitate proper execution of projects. The meeting involves evaluation of all initiatives and achievements in the project at all stages starting from the planning phase to the closeout. Executive managers have the responsibilities of offering financial as well as strategic support that leads to the achievement of sustainable competitive advantage while the program managers represent the needs of the stakeholders.

Achievement of sustainable competitive advantage requires far-reaching risk analysis performance during the initial stages of the planning phase which is a basis for foresight as well as readiness. Risk analysis must be a continuous process in all stages of the project and the beginning point involves concept. Addressing these risks requires flexibility for change in the organization. Agility in decision making is a very important consideration in global project management if sustainable competitive advantage is to be achieved.

Another important factor in global project management which aspires to achieve sustainable competitive advantage is mitigation of risk in which case governmental, environmental as well as economic factors must be given special consideration. A variety of variables must be considered in risk mitigation and expansive landscape panorama must be taken during the process of risk mitigation. Therefore, leaders in global project management must use wide-lens view, improved reporting and elastic approach to change in order to achieve sustainable competitive advantage. Identification of changes, potential problems as well as opportunities requires transparency from project managers to all stakeholders in projects which facilitates effective and participatory decision making.