While strategy formulation is where companies shine, strategy execution is the ingredient that separates winners from losers.
Strategies typically don’t fail because they are wrong. They fail because there is no implementation process to carry out the strategy.
Strategy is about change. Something different that does not get done with the current set up as part of everyday operations
Strategy Execution requires its own process
Strategy Execution can be achieved by creating a set of processes to integrate this as a part of normal business management
Strategy Program Office plans the roadmap for implementing the strategy via projects
Projects can be what ever is required for strategy execution & implementation
Represent one step in strategy roadmap
Project Managers and project teams implement these projects
These teams are built for ad-hoc purpose of carrying out the specific goal(s) of individual projects
Deliver measurable results that can be compared to strategy target set
Feedback to Strategy Creation and Management for necessary improvements and adjustments