This document discusses project, program, and portfolio management. It defines them as: projects are individual initiatives; programs are collections of related projects managed together; and portfolios are collections of strategically linked projects, programs and other work that aim for a strategic goal. The document also discusses project organization structures, including projectized, functional, matrix, and hybrid models. Finally, it defines stakeholders as any individuals or groups affected by or able to influence a project, and notes the importance of managing stakeholders' needs and requirements.
4. Programs 4 Jun. 21st, 2009 A program is a collection of related projects. There is an advantage in managing projects as related ones. Program Management deals with managing programs. A Program manager usually supervises project managers who are managing the projects.
5. Portfolios 5 Jun. 21st, 2009 It is not the financial term used in investments. A portfolio is a collection of strategically linked projects, programs and other work (may contain operations) that aims at a strategic goal. Portfolio Management deals with selection of projects and initiating the suitable ones.
6. Some Elaboration 6 Jun. 21st, 2009 A summary sentence: Project Management is about doing the projects right. Portfolio Management is about doing the right projects. Portfolio Management is usually linked with strategic planning.
8. Project Management Office (PMO) 8 Jun. 21st, 2009 Also some other names that can be found for the same meaning: Program Management Office (PMO) Project Office Program Office PMO is usually responsible for the overall project management activities in the company.
9. Organization Structure Here we will talk about different organization hierarchies and structures from the project management perspective. These can be summarized as Projectized, Functional, Matrix & Hybrid. 9 Jun. 21st, 2009
10. Projectized Organization 10 Jun. 21st, 2009 The best environment for project managers, however not necessarily the best from the organization point of view. Highest authority of PMs One line of reporting (almost all staff is working within projects and usually with a single project)
11. Functional Organization 11 Jun. 21st, 2009 The hardest environment for project managers. Lowest authority of PMs Think of Silos (each department is a self-contained autonomous entity with a line manager) Project management is usually within the scope of one department
12. Matrix Organization 12 Jun. 21st, 2009 A balance between projectized and functional organizations. It can be weak-matrix, balanced-matrix or strong-matrix. PM authority is dependent on the level of matrix implementation. Most private companies lie in this model. Project Management skills highly needed here.
13. Hybrid Organization 13 Jun. 21st, 2009 Usually exists in large organizations and enterprises. It may contain several models within the same organization: Part is projectized, another part is weak-matrix. Part is functional, another part is balanced-matrix. Also several models may exist as per the business need (e.g. critical project)
14. Stakeholders 14 Jun. 21st, 2009 Simple definition: anybody who has stakes (interest) in the project More practical definition: anybody or group who can affect or be affected by the project or its outcome (product) There are internal & external stakeholders.
15. Internal Stakeholders 15 Jun. 21st, 2009 Within the performing organization and the project team: Project Manager Project Sponsor Project Team
16. External Stakeholders 16 Jun. 21st, 2009 Outside project team: Other project managers The Customer (including its team, sponsor, executives, …) The End Users Any regulatory or environmental bodies The community Suppliers Competitors
17. Stakeholders value Managing stakeholders is of utmost importance. Stakeholders’ needs and expectations must be handled (sometimes called unstated requirements) Stakeholders’ requirements must be handled as well. Stakeholders may make or break the project. Jun. 21st, 2009 17