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The realization is growing that projects fail not only because of incompetent execution, but also, and frequently, because of a muddled strategic context, inadequate scope, or unarticulated—and thus unresolved—tensions and/or trade-offs among the project stakeholders. This realization has a straightforward message: project managers could benefit a great deal from expanding their activity to account for strategy alignment and organizational enablers. This article proposes that this view, although a step forward, still decouples project management from strategy-making. It implies that the business people set the outcomes and charter, and project management executes. Yet, this view misses the fact that strategy is not made only “at the top” and then cascaded down. In a world of increasing uncertainty, volatility, and interdependence across forms, industries, and countries, strategy is emergent; it has to adjust to …