Managing Project , Program & Portfolio

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by George G - Thursday, January 28, 2016, 7:58 AM

Managing Project , Program & Portfolio a important concept to understand the areas of Project, Program & Portfolio management.

About scope: Project has defined objectives and Scope is progressively elaborated. Programs have larger scope and provide more significant benefits and portfolio has business scope that changes with strategic goals of organization.

For changes, Project Managers expect change and implement processes to keep change managed whereas Program Manager must expect change from both inside and outside the program. Portfolio managers continually monitor changes in the broad environment.

In case of planning, Project Managers progressively elaborate high level information into detailed plans throughout the project life cycle. Program Managers develop the overall program plan and create high-level plans to guide detailed planning at the component level. Portfolio Managers create and maintain necessary processes &communication relative to the aggregate portfolio.