Competitive Advantage In Project Management

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In this article, a firm is said to have a competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors (Barney, 1991). The important thing that matters in the field of strategic management is the distinction between competitive advantage and sustained competitive advantage. The term sustained competitive advantage is used for that firm which enjoys a competitive advantage or a sustained competitive advantage is establishing market domination or implementing a strategy not simultaneously being implemented by others competitors or potential rival in that respective line of business. The success of the project management relies on proper strategic approach…show more content…
globalization, time, compression, technology integration with global dispersion - and explores several strategic approaches for dealing with the above mentioned challenges.The research or rather debate have been still discussed about the applicability strategic project management. Strategic managers and researchers have long been interested in understanding sources of competitive advantage for firms (Barney, 1991). The scope of competitive advantage or dynamic projects is not limited to technological projects it influence many information systems (IS) projects. The importance of sustaining competition in Information Technology projects has been addressed by (Pavlau and Sawy, 2006). The authors suggest that through construction of IT leveraging competence, the study shows that by effective use of IT functionalities, even generic functionalities, by business units can help build a competitive advantage. The authors also proves by sufficient empirical studies that the strategic effect of IT leveraging competence is more pronounced in higher levels of environmental…show more content…
By the main attraction of this framework is that competitive advantage is conceptualized to several leads. The organization or firm can achieve competitive parity when it has products or resources which can termed as rare. The VRIO approach will help the company to achieve sustained competitive advantage, when it has resources that are valuable, rare, and inimitable. The authors also elaborates on the debate that while companies are increasingly focusing on project management process to improve business results, little research has been done to fully understand how the fundamental framework of project management contributes to competitive advantage in turbulent times. The more the company solidifies its intangible assets like tacit knowledge which is not readily available or transferable nor can be copied like tangible project management assets. Effective knowledge transfer can also be part of strategic project management which can enhance the success rate of projects. Every factor be is tangible or intangible assets of project management should be valued upon in order to achieve success in the turbulent

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