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Successful strategy implementation is very important to every leader of a company or division. This is, after all, one of their most important functions. Many such leaders are frustrated about the poor execution of their great ideas and in some cases may even lose their jobs, because they fail to implement their strategies. However, on the other hand, some companies are very successful in implementing their strategies year after year. This paper investigates why some companies fail and why some companies are so successful in implementing their strategies. The value that project management principles add to the implementation process is determined and a revised model, based on project management principles, is developed to assist leaders with the implementation of their strategies.