It’s ironic but the most important project management decision is made before any project management is done. The most important project management decision is deciding what projects to do.
No one knows, or cares, whether the iPhone was delivered on time and on budget. It has delivered tremendous value to Apple. Conversely, it doesn’t matter if the Microsoft Kin mobile phone was on time and on budget. This $1B project was killed two months after launch.
Make sure the projects your organization is doing support your strategy. Kill the one ones that don’t. Measure the outcomes later to ensure the expected results were achieved.