Executives are realizing that the secret to remaining competitive and becoming more profitable is simple: projects. If you plan and execute projects well, your organization can adjust nimbly to market changes, new competitors and the evolution of technology. Conversely, the future looks grim for organizations that cannot identify needs and work methodically to meet them. To execute projects effectively here are a few tips and suggestions for project management success:

1.      Use strategic planning to build the firm's project-management capability - Multiple projects will align properly only if you carefully point them at the same strategic goal. Look outside your project to its larger context to find its objectives and purpose

2.      Create a project-management office to direct project selection and execution

3.      Establish a project management method that works for your company on an ongoing basis

4.      Use only verifiable, meaningful project measurements, not just those that are easy to get

5.      Selecting the right person to manage a project is essential. Make sure project managers have the necessary skills and attributes

6.      Line managers control the resources you'll need to make your project successful

7.      Think strategically and focus on a project's purpose, not on its tools and charts

8.      Avoid mission creep: scope changes that add too many deliverables to a project

9.      Give your project a strategic structure by knowing what you are doing and why - the way you "chunk" or segment your project's work will determine the coherence of your team's assignments

10.  Plan ahead and note the dependencies that will determine the project's work flow

11.  Identify any factor that will cause a delay or increase costs

12.  Check your project assumptions by testing if-then connections. Learn as the project progresses and incorporate what you learn back into the project

13.  Encourage executive support, but deter micromanaging project sponsors

Bonus: Highly Effective Program Management Organizations

14.  Spend real effort on managing your project through effective leadership of people

15.  Share each project?s success with all team members and line managers. You'll need their support for the next project