Business Goals vs. Project Goals * Strategic management involves both short-term and long-term planning to assist a business in reaching goals e.g worker productivity, improving marketing strategy and production operations. Project management involves the short-term goals of creating a service, program or product that meets customer satisfaction, while striving for the same goals regarding productivity, marketing strategy and production operations.
Summary - Strategic management goals involve the entire business striving for future success, while Project management goals focus just on the current product's or program's future success.
Product Risks vs. Financial Risks * Project management evaluates product risk based on whether the product will achieve current customer satisfaction. Most project management involves quality assurance tests to review the project's or product's functionality for success or failure. Although the product line is essential for strategic management, in terms of creating a marketing strategy, strategic management must plan for the financial risk of a changing market i.e strategic management must plan on how to respond to changing situations concerning the project and how those changes would affect the business overall.
Summary-Strategic Management focuses on the financial risk of undertaking a particular project while Project Management focuses on the product risk of a particular project.
Business Procedures vs. Project Procedures * Strategic management revolves around overreaching procedures for making sure the business is continuously managed properly. These procedures involve managing the budget, developing timelines in reaching business objectives and assigning responsibilities to team members for reaching the business's mission. Project management involves procedures to roll out a final product or project, such as assigning