In earlier post, I discussed several things organizations can do to help align projects with a firm’s goals and strategies. In this article I will address the second task that needs to be done for PPM to be effective. Projects must:

Be aligned with the firm’s strategy and goals

Contribute (directly or indirectly) to a positive cash flow for the enterprise.
Effectively use the firm’s resources—both people and resources
Not only provide for current contributions to the firm’s health but must help to position the firm for future success.

            The business organizations often compete with each other to gain their customers’ attention and business. While doing so, each firm tries to chalk out its unique strategy or game-plan based on its own internal strengths and weaknesses in terms of, which products or services to pursue, which investments to make, with human resource policy to implement and which organizational structure to adopt. The whole exercise is meant to find how to effectively compete, against whom, where and for what, so that the firm can generate successful performance over an extended period of time. The essence of strategy lies in striking a harmonious balance between a firms’ distinctive skills and capabilities and the external environment in which it operates. When the firm is able to perform activities more effectively than its rivals, it stays ahead in the race and emerges as a leader. Strategic planning and strategic management enables a firm to formulate and implement such winning game-plans over a period of time.

Meetings and Events are an imperative part of any business environment. There are many businesses however that do not place much emphasis on meetings/ events program and do not drive the procurement strategically. Meetings and Events used effectively can be a channel to promote products and services to clients, used to train staff and promote internal organisational programs. However in many cases organisations do not utilise correct approach or management of meetings and events to run their business.  Of course there are many considerations for running such a program at a group level, however in its simplified manner the key focal should be on value (ROI) and cost to procure (Hosting/ managing) events.  There are a few different types of meetings that an organisation typically conducts sponsors in a every calendar year, hence  they all have their own requirements and entail some sort of strategic meetings management and procurement:

Meetings— these are the most common types of meetings, and they simply involve a group of people meeting in a small room to resolve issues and conduct business operations.  Typically run my teams that are local to each other.