1.3 - Execute and measure strategic initiatives
PCF ID: 10016 | Elements: 16 | Metrics Available: N | Benchmarkable: 0
Definition
Managing strategic initiatives, from development through selection, execution, and evaluation. Conduct and oversee strategic projects supporting long-term objectives. Administer programs of strategic significance by developing such initiatives, select the most appropriate projects, and formulate measures to assess their impact.
Overview
This process group covers execute and measure strategic initiatives within the broader context of Develop Vision and Strategy.
Process Hierarchy
Processes
| ID | Process | PCF ID | Sub-elements | Metrics |
|---|---|---|---|---|
| 1.3.1 | Develop strategic initiatives | 10057 | 3 | N |
| 1.3.2 | Evaluate strategic initiatives | 10058 | 2 | N |
| 1.3.3 | Select strategic initiatives | 10059 | 2 | N |
| 1.3.4 | Establish high-level measures | 10060 | 3 | N |
| 1.3.5 | Execute strategic initiatives | 19507 | 0 | N |
1.3.1 - Develop strategic initiatives
PCF ID: 10057
Definition: Developing strategic projects that help fulfill long-term goals. Develop time-bound projects that are discretionary in nature and lie beyond the scope of the organization's routine operations.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 1.3.1.1 | Identify strategic priorities | 19975 | 0 | N |
| 1.3.1.2 | Develop strategic initiatives based on business/customer value | 19976 | 0 | N |
| 1.3.1.3 | Review with stakeholders | 19977 | 0 | N |
1.3.1.1 - Identify strategic priorities
Definition: Creating a statement of the organization's direction to guide decision making around the allocation of resources. Provide a focus on the organization's overarching goals to ensure coherent and considered action. Strategic objectives are ranked by their importance in achieving the strategic goals. All subsequent operational or tactical planning and resource allocation is based on strategic priorities
1.3.1.2 - Develop strategic initiatives based on business/customer value
Definition: Creating a statement of the organization's direction based on what is considered "value" to the customer or business.
1.3.1.3 - Review with stakeholders
Definition: Developing a process for stakeholder dialog that is integrated into the assessment of business strategies. Report on the evaluation of the business objectives, strategies, subject, or past events.
1.3.2 - Evaluate strategic initiatives
PCF ID: 10058
Definition: Examining projects of strategic significance that lie outside the purview of the organization's routine operations. Closely analyze strategic initiatives for their applicability and feasibility, given the organization's vision.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 1.3.2.1 | Determine business value for each strategic priority | 19978 | 0 | N |
| 1.3.2.2 | Determine the customer value for each strategic priority | 19979 | 0 | N |
1.3.2.1 - Determine business value for each strategic priority
Definition: Establishing a standard measure of value to determine the business worth for each of the Identify strategic priorities [19975]. List the effectiveness and utility for every important strategic element based on the benefit it adds to the business.
1.3.2.2 - Determine the customer value for each strategic priority
Definition: Analyzing the value preposition; the value the customer gets from a product/services for each of your Identify strategic priorities [19975]. Customer value is the satisfaction a consumer feels after making a purchase for goods or services relative to what he/she must give up to receive them.
1.3.3 - Select strategic initiatives
PCF ID: 10059
Definition: Selecting relevant projects of strategic significance that create opportunities for the organization to realize its long-term objectives, on the basis of their suitability to the organization's constraints and reality. Select from the process Evaluate strategic initiatives [10058], based on their applicability and feasibility for the organization. Enlist senior management, especially strategy personnel.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 1.3.3.1 | Prioritize strategic initiatives | 19980 | 0 | N |
| 1.3.3.2 | Communicate strategic initiatives to business units and stakeholders | 19981 | 0 | N |
1.3.3.1 - Prioritize strategic initiatives
Definition: Listing the most effective procedures in the order of most important to the least. Create measures or filter for determining which of many "strategic initiatives" is most important to the least important.
1.3.3.2 - Communicate strategic initiatives to business units and stakeholders
Definition: Establishing procedures for communications within the organization which creates the road map for successful understanding of strategic initiatives for both business units and stakeholders (internal and external).
1.3.4 - Establish high-level measures
PCF ID: 10060
Definition: Devising measures to examine strategic projects. Formulate evaluation criteria to assess the strategic initiatives for the level of impact.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 1.3.4.1 | Identify business value drivers | 19982 | 0 | N |
| 1.3.4.2 | Establish baselines for business value drivers | 19983 | 0 | N |
| 1.3.4.3 | Monitor performance against baselines | 19984 | 0 | N |
1.3.4.1 - Identify business value drivers
Definition: Determining key indicators or factors responsible for driving business value. Key business value drivers comprise of operational, financial, and sustainability drivers.
1.3.4.2 - Establish baselines for business value drivers
Definition: Establishing baseline measures that provide standards for assessing performance of Identify business value drivers [19982].
1.3.4.3 - Monitor performance against baselines
Definition: Overseeing the progress of activities to ensure they are on-course and on-schedule in meeting the objectives and performance targets against Establish baselines for business value drivers [19983].
1.3.5 - Execute strategic initiatives
PCF ID: 19507
Definition: Successfully implement strategic initiatives. Execution of strategy is also defined as the process of implementing logical set of connected activities by an organization to make a strategy work.
Change Summary (v7.2.1 vs v6.1.1)
Changes indicated by:
+XXXXX- New element added-XXXXX- Element removedcXXXXX- Element changedNEW- Newly introduced
Complete Element List with Definitions
All 16 elements
| ID | Name | Definition |
|---|---|---|
| 1.3 | Execute and measure strategic initiatives | Managing strategic initiatives, from development through selection, execution, and evaluation. Condu... |
| 1.3.1 | Develop strategic initiatives | Developing strategic projects that help fulfill long-term goals. Develop time-bound projects that ar... |
| 1.3.1.1 | Identify strategic priorities | Creating a statement of the organization's direction to guide decision making around the allocation ... |
| 1.3.1.2 | Develop strategic initiatives based on b... | Creating a statement of the organization's direction based on what is considered "value" to the cust... |
| 1.3.1.3 | Review with stakeholders | Developing a process for stakeholder dialog that is integrated into the assessment of business strat... |
| 1.3.2 | Evaluate strategic initiatives | Examining projects of strategic significance that lie outside the purview of the organization's rout... |
| 1.3.2.1 | Determine business value for each strate... | Establishing a standard measure of value to determine the business worth for each of the Identify st... |
| 1.3.2.2 | Determine the customer value for each st... | Analyzing the value preposition; the value the customer gets from a product/services for each of you... |
| 1.3.3 | Select strategic initiatives | Selecting relevant projects of strategic significance that create opportunities for the organization... |
| 1.3.3.1 | Prioritize strategic initiatives | Listing the most effective procedures in the order of most important to the least. Create measures o... |
| 1.3.3.2 | Communicate strategic initiatives to bus... | Establishing procedures for communications within the organization which creates the road map for su... |
| 1.3.4 | Establish high-level measures | Devising measures to examine strategic projects. Formulate evaluation criteria to assess the strateg... |
| 1.3.4.1 | Identify business value drivers | Determining key indicators or factors responsible for driving business value. Key business value dri... |
| 1.3.4.2 | Establish baselines for business value d... | Establishing baseline measures that provide standards for assessing performance of Identify business... |
| 1.3.4.3 | Monitor performance against baselines | Overseeing the progress of activities to ensure they are on-course and on-schedule in meeting the ob... |
| 1.3.5 | Execute strategic initiatives | Successfully implement strategic initiatives. Execution of strategy is also defined as the process o... |
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