• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.572-577
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• 2008

In order to apply strategic advanced project management to the Korean construction industry, the study conducted a comparative analysis of the project management body of knowledge of the advanced countries such as the USA and Japan as well as Europe. As a result, it was found that the connection to 'execution' of 'strategy' was highlighted as a common main issue in the theoretical background of project management body of knowledge, and strategic planning, which aligns 'program management' based on the integration of multiple project management and operations in single project with 'portfolio management' for selection and concentration, has been emphasized. Accordingly, the study built up the framework for the application of strategic advanced project management for strategic action in the Korean construction industry and proposed the following applicable solutions for implementation into the current Korean construction industry: 1) Innovate global competitiveness by preparing an 'ideology and philosophy' for the strategic action of an organization, 2) Establish a strategic 'environment' in consideration of the culture and structure of an organization, 3) Propose a strategic 'vision' for attaining a realizable goal within an organization, 4) Create an 'investment' on the portfolio in line with the strategy, 5) 'Execute' the program through the portfolio and project management. Lastly, the study brought up strategies for sustainable growth by applying strategic advanced project management to the Korean construction industry with a view to acquiring 'Performance' through the implementation and operation of their integrated system.