SMART goals in project planning and performance management

>>>Work in progress<<<

Considering the obstacles an effective goal setting can encounter such as lacking organisational capabilities or resistance to change, e.g due to individual anxiety, creating and implementing appropriate goals seem to be challenging. However, in a dynamic company environment establishing effective goals followed by developed action plans is of great importance in any project management process. Initially created by George T. Doran in the Management Review, the SMART goals can be classified as an effective goal setting technique. The acronym SMART stands for: Specific, Measurable, Achievable, Relevant, Time bound.

Being in line with the purpose perspective of projects, this goal setting method is not only applicable in professional projects, but also in any project of private nature. Using this tool allows to generate success substantially related to its original efforts, which is of high value for any project manager. Due to the SMART goals' great scope in diverse industrial areas, a deep investigation of the SMART traits and simultaneously a critical reflection of its potential limitations will be conducted as follows.

Introduction to goal setting

Organisations such as companies aim to create benefits and to reach outcomes or goals, respectively. This process is often initiated by establishing a vision which is translated into measureable goals in the project planning phase on an organisation's strategic, tactical or operational level. Next to the performance evaluation of the proposed goals, goals create a direction(QUELLE-MANAGEMENT REVIEW) which allows to be followed throughout the phases of any project management process.

As any managerial task such as a planning process is accompanied by uncertainties that can lead to ambiguity and fallacy, an effective way of setting achievable goals is absolutely essential(QUELLE finden, wo es angesprochen wurde!!!!!) to mitigate negative outcomes(AUSDRUCK).

for success validation necessary

goals also for further development necessary (next to direction) (QUELLE-Managementreview)

defined goals/objectives are in the scope category of project, program and portfolio mgmt (SPM p7)

Goals are clearly de ned outcomes and bene ts that describe what the program is expected to deliver. The outcomes are the nal results, outputs, or deliverables realized through the individual projects, while bene ts are the tangible gains and valuable assets to the organization from the economic or other exploited effect of outcomes. >>REVIEW goal SPM image on desktop

History of goals -> great organisational performance In the 1960’s, research began regarding the power of setting goals and organizational performance. The first contextual event in the history of SMART goals happened in 1968. Dr. Edwin Locke published a seminal paper called “Toward a Theory of Task Motivation and Incentives”. In the paper, Locke established that appropriately set goals do result in superior organizational performance.(https://www.achieveit.com/resources/blog/history-evolution-smart-goals/)

>> Doran extended the studies of Locke<< In 1981, George T. Doran published a work in the November issue of Management Review that extended upon Locke’s findings. Doran, G. T. (1981). “There’s a S.M.A.R.T. way to write management’s goals and objectives”. Management Review (AMA FORUM) 70 (11): 35–36. He recognized that companies need to achieve goals and objectives, but often established goals were too diffuse to have a meaningful impact. Rather, they are measurable things that need to be achieved to move an organization forward.

Why SMART?

Initially created by George T. Doran in the Management Review, the SMART goals can be classified as an effective goal setting technique. The acronym SMART stands for: Specific, Measurable, Achievable, Relevant, Time bound.

SMART goals

Using this tool allows to generate success substantially related to its original efforts, which is of high value for any project manager.

establishing effective goals followed by developed action plans is of great importance in any project management process(QUELLE-MANAGEMENT REVIEW)

applicability in various industrial areas and project management areas >> figure to show scope

>> figure success rate after implementing smart goals towards w/o smart goals

can be implemented in any methodology (QUELLE) >>Setting goals using Work Breakdown Structure, a Gantt chart, or any other project planning methodology(http://blog.capterra.com/10-smart-goal-setting-best-practices-for-project-planning/)

executives. Leaders and managers are looking for a way to guide using smart goals, Over time, SMART goal setting has helped organizations of all sizes set and achieve their objectives. (QUELLE achieveit)

SMART provides a structure for goals and objectives. They track task implementation and, as a result, improve team efficiency. So what are these SMART goals that can potentially solve so many problems in project planning?(http://blog.capterra.com/10-smart-goal-setting-best-practices-for-project-planning/)

Application: How to be SMART?

That is why SMART goals appear on the project planning horizon(http://blog.capterra.com/10-smart-goal-setting-best-practices-for-project-planning/)

Guidance

So what exactly makes a SMART goal?

S: Specific. A goal of “being the best” is too broad for specific execution. Make your goals more specific steps that will ultimately lead to you being the best. M: Measurable. How will you tell if you are heading towards your goal? If you have metrics that will measure it, you will be much more likely to execute it. A: Attainable/Achievable. Your goals should be lofty enough to inspire but not so big as to be unrealistic. Have big dreams for your company overall, but set smaller goals during the S.M.A.R.T. planning process in order to reach those lofty heights. R: Relevant. Make sure your goals apply to you, your company, and what you want to accomplish. T: Timely. Set a date for completion.(achieveit)

provide template

However, by interpreting “R” as Relevant, leaders add the dimension that the goals should conform with strategic direction.(achieveit)

Case studies

Project management phases: Planning, performance measurement, time management

>>industrial feedback after smart application<<

>>>Further consideration in program/portfolio management

Limitations

Bias, human resistance

effective goal setting can encounter such as lacking organisational capabilities or resistance to change, e.g due to individual anxiety (QUELLE-Managementreview)-requires critical reflection of capabilities and encountering unpleasant realisation of lacking capabilities

not easy to set appropriate goals (tbd- check QUELLE-Management review)

Other techniques?

goals not ambitious enough

strictly following of guidance can lead to disregard better solutions

Conclusion

It is important to note, while the exact definition of “R” is not critical, it should be meaningful and not redundant in a larger context.(achieveit)