Project and Process Realms: Analysis of Two Strategic Management Means in the Context of Competitive Advantage

Abstract

Projects and processes are powerful strategic management means. They play a significant role in the implementation of strategies and in gaining a competitive advantage by using them as a lever. Projects and processes are based on two operationally complementary strong wills (founding and operating will) and strategic-level decisions based on this will. Projects are used to create processes as an output. Processes, on the other hand, support the key indicators of the firm's vital functions. The two approaches are examined together in terms of their mutually supportive contributions to the realization of strategic goals. Developing project and process competencies strengthen competitive muscles. Effective projects and improved processes bring the business closer to its goals. Success emerges thanks to the positive effects of project and process outputs on key performance indicators. In the study, project and process realms are defined, their similarities and differences are emphasized and their functions in terms of strategic management are explained. In addition, it is aimed to clarify the transition zone between the realms and to raise awareness for making the right decisions to achieve greater gains. In this context, decision criteria for determining project and process priorities are presented to firms. Thus, a link will be established between the strategies and these realms, the sustainability of the competitive advantage will be ensured and the synergy created will contribute to the realization of the strategic goals of the firm.