Distinguish the Unique Aspects of Portfolio, Program and Project Management

Transcription

1 Distinguish the Unique spects of Portfolio, Program and Project Management Presented by: Vish Tripathi, PfMP, PMI-CP, PMP Senior Manager, Daugherty Business Solutions President PMI Metro St. Louis Chapter pril 26, 2016

2 genda Definitions First Project, Program and Portfolio Management (P3M) Basics Unique spects of P3M Growth & Opportunities Summary Q &

3 Definitions

4 Definitions In the US, PMI has published standards for Project, Program, and Portfolio Management. In the United Kingdom, the Office of Government Committee (OGC) published their Managing Successful Programmes (MSP). Why Program in the US and Programme in the UK? In North merica, they use program for: - group of related projects ND For computer software In UK, ustralia, India, South frica, they use Programme for: - group of related projects, but program for computer software For our presentation, we will be using the word program for a group of related projects.

5 Project Management project is a single undertaking. series of tasks that aims to produce a specific product, service, or benefit within a defined timeline. It s all about executing projects right. Definitions Program Management group of related projects that all contribute to the same business objective or benefit. Each project within the program assists in meeting goals. It s all about managing dependencies. Portfolio Management high-level view of all the projects an organization is running. It could be every project across the entire company, a division, or a department. It s all about executing the right projects.

6 Pyramid Hierarchy Long Term Strategic Vision Long Term Objectives 3 5 Years Strategic vision & objectives are broken into: - Shorter Term Objectives Benefits 2 3 Years Tactical Inter-related One Time Operations Continuous Improvement On-going t

7 Project Vs. Operations Temporary Project Project Management Produces the Unique Product / Output On-Going Operations Business Process / Operational Management Produces the Same Product Repetitively

8 Project / Program / Portfolio Source: The Standard for Portfolio Management (Third Edition) Project temporary endeavor undertaken to create a unique product, service or result. Program group of related projects, subprograms and program activities that are managed in a way to obtain benefits not available from managing them individually. Portfolio Projects, programs, sub-portfolios and operations managed as a group to achieve strategic objectives. How Tactical Doing things right What Strategy Doing right things

9 How does Portfolio Management differ from Project Management & Program Management?

10 Breakdown of P3M Source:

11 What is Leadership View? Portfolio Manager Program Manager Project Manager Portfolio Manager s primary focus is overseeing projects in which an organization has invested its resources to achieve its business goals Program Manager s primary focus is being an integrator Project Manager s primary focus is facilitating a project to completion

12 Roles and Responsibilities Portfolio Manager Manages and balances process of which decisions are made regarding what to invest in, how much to invest in, and when to change investments, based upon agreed upon strategy, total resources available, and changing conditions. Focus on projects across the org. that are in progress at any one point in time. Program Manager Manages a multitude of simultaneous projects focused on providing management support to a specific customer / product. Work with stakeholders across the entire organization focused on strategic business objectives. Project Manager Manages complex, non-routine, one-time efforts limited by time, budget, resources, objective, and performance measurements designed to meet customer needs. Provides direction, coordination, and integration to the project team.

13 Contributions to Org. Goals Project Management Program Management Portfolio Management Develops and implements plans to achieve a specific scope. It is largely concerned with achieving specific deliverables that support specific organizational objectives. Harmonizes its projects and programs, and managing their interdependencies. Its focuses on achieving the cost, schedule and performance objectives of the projects within the program or portfolio. ligns by selecting the right programs or projects, prioritizing the work, and providing the needed resources. It balances conflicting demands between programs and projects, allocates resources based on org. priorities and capacity, and manages so as to achieve the benefits identified.

14 PORTFOLIO MNGER Large Span of Control Job Focus PROGRM MNGER Wide Span of Control PROJECT MNGER Narrow Span of Control Breadth & Depth Breadth Depth Micro & Macro vs. Macro vs. Micro Strategic Management Strategic and Healthy Balancing of Resources Program & Portfolio Management Tools, Systems & Process Project Management Execution & Implementation

15 Job Challenges PORTFOLIO MNGER PROGRM MNGER PROJECT MNGER ligning & Optimizing Projects Process Development Process Compliance ligning Investment Funds Cross- Business/Enterprise Cross-Functional Business Coordination vs. Orchestration and People Management vs. Time Management and People Coordination ligning ssociated Resources with Org. Priorities Return On Investment (ROI) and Value Delivery Project Completion on Time, on Budget, and to Expectations Conflicting Business Requirements Competing Business Strategies and Objectives Conflicting Project Requirements

16 PORTFOLIO MNGER Strategic Thinking Competencies PROGRM MNGER Systematic Thinking PROJECT MNGER nalytical Thinking Execution Liaison Interpersonal stuteness Communication Skills Translating ssets into $ and People Business Goal Orientation vs. Results / Goals Orientation Influence vs. Business Orientation Results / Goals Orientation Strategist Team Building / Management Influence Strategic Planner Strategic Thinking Team Building / Management Business Focus Making Tough Decisions Customer Focus

17 Growth & Opportunities

18 Salary Comparison Project Manager $87,000 - $105,000 Program Manager $120,000 Portfolio Manager $128,000 Project Management Salary Survey 9 th Edition from PMI

19 Certifications from PMI PfMP PgMP Portfolio Program CPM / PMP Project

20 Certified Professionals PMIMSL PMP 1,101 PgMP 4 PfMP 1 PMIMSL PMI Metro St. Louis Chapter ::

21 Summary

22 Relationship Venn Portfolio to realize strategic goals / objectives Program to realize specific benefit Project to realize a specific objective or goal

23 Differences (Summary) Portfolio Managers They work with ENTIRE ORGNIZTION focused on strategic business investment goals. Program Managers They work with STKEHOLDERS across the entire organization focused on strategic business objectives. Project Managers They work CROSS-FUNCTIONLLY focusing primarily on triple constraints (Scope, Time, and Cost).

24 How these fit into Org s Processes Corporate Strategy Team Portfolio Management Program Management Project Management Investment Management Strategic Intent Financial Objectives Portfolio Mix Business Leaders Portfolio Management Portfolio Management Strategic Objectives Review Portfolio Mix (Optimization) Manage Trade-Offs Project Management Office (PMO) Manage Programs Manage Sub-Portfolio(s) Program Management Project Leaders Project Management Manage Projects Manage Sub-Projects (Child)

25 Questions? re you a Portfolio or Program or Project Manager? vish_tripathi@hotmail.com LinkedIn: