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Project Management slide 2
The document discusses project, program, and portfolio management. It defines each term and explains their differences. Project management is for unique, temporary initiatives while program management coordinates related projects. Portfolio management focuses on achieving organizational objectives through multiple programs and projects. The document also covers organizational structures like functional, matrix, and project-based; and the role of project management offices and lessons learned.
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Project Management slide 2
- 1. PMP Preparation Course Project/Program/ Portfolio Management and Project Process Groups
- 2. Project , Program,Portfolio and Operational management • Portfolio = Organizational / departmental • Program = Business Area and/ or related Projects • Project = Unique Initiative • Operational = Day to Day Execution
- 3. Portfolio Management • “Large Focus” – Organizational / Department • Could be several Programs + projects • Typically has a long term focus • Focused on achieving specific objectives (Business Plan/ Org Objectives) • Typically has approval authority (start/ acceptance of projects/ programs)
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- 5. Program Management • RelatedProject with a common theme • May have a business unit focus • Medium term focus – often disbands when results are achieved • Co-ordinates resources and dependencies across projects • Should be done only when the program approach adds value
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- 8. Project Management • Temporary •Unique requirements • Beginning and End • Resources
- 9. Comparative Discussion Project ProgramPortfolio Scope Well defined More Volatile Strategic Change Fully Managed Tradeoffs Monitor Planning Fully Planned Program Plan Strategic Management Dedicated PM Vision Leader Cross-Funct. Success Time/ $/ S/ Q Overall Needs Bus. Plan Monitoring Work Package Projects Bus. Performance
- 10. PMO – ProjectManagement Office • Centralized and standardized the management of Projects – Supportive ( provide Policies, Methodologies, templates and lessons learned) – Controlling (Provide support and guidance, train others in project management and ensure compliance to organizational practices) – Directive ( provide PMs to different projects, responsible for the result and have high level of control)
- 11. Description Type ofPMO 1 Manages all projects throughout the organization Directive 2 Provides support and guidance, requires all projects within the organization to use designed project management software and templates, but doesn’t otherwise exert control over the project Controlling 3 Coordinate all projects within the organization Controlling or Directive 4 Recommends common terminology, templates, and reporting and other procedures to be used on projects throughout the organization to promote consistency and streamline effort supportive 5 Appoints project Manager Directive 6 Prioritizes projects Controlling or Directive 7 Has the highest level of control over projects Directive
- 12. Organizational Structure • ProjectsCannot Be Run in Isolation • Projects must operate in a broad organizational environment • PM need to understand: – Organizational Environmental Factors – Organizational Structure
- 13. Organizational Environmental Factors •Culture (Risk Taking, Risk Averse) • Government Regulations • Geographic Distribution • Infrastructure • Human Resource • Market Condition • Political Climate ( Make Decission)
- 14. Organizational Structure • Functional •Matrix • Project
- 15. Functional Orgnization Chief Funct. Manager 1 Staff Staff Staff Funct. Manager2 Staff Staff staff Funct. Manager 3 Staff Staff staff Funct. Manager 4 Staff Staff staff
- 16. Matrix Organization –Weak Matrix Chief Funct. Manager 1 Staff Staff Staff Funct. Manager 2 Staff Staff staff Funct. Manager 3 Staff Staff staff Funct. Manager 4 Staff Staff staff
- 17. Balanced Matrix Chief Funct. Manager 1 Staff Staff Staff PM Funct. Manager2 Staff Staff staff Funct. Manager 3 Staff Staff staff Funct. Manager 4 Staff Staff staff
- 18. Strong Matrix Organization Chief Project Management (PMO) PM PM PM Funct.Manager 1 Staff Staff Staff Funct. Manager 2 Staff Staff staff Funct. Manager 3 Staff Staff staff Funct. Manager 4 Staff Staff staff
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- 21. Org. Structure Advantages- Disadvantages
- 22. Organizational Process Assets •Processes, Procedures, and Policies ( Why reinvent the wheel) • Corporate Knowledge Base ( Historical Records) • Historical Information (record of past projects) • Lessons Learned (What Type of information should be included in)
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- 24. Process Groups • Aprocess is a series of actions directed toward a particular result • Project management can be viewed as a number of interlinked processes • The project management process groups include: – Initiating processes – Planning processes – Executing processes – Monitoring and controlling processes – Closing processes
- 25. Level of Activityand Overlap of Process Groups Over Time