What is Program Management?
A program is a group of related projects. A program is an approach which focuses on interdependencies of project and benefits of decreasing risk, economic scale which also helps management improvement.
It also includes program manager’s co-ordination and management activities.
What is portfolio management?
A Portfolio is a group of programs and projects and other related operational works. A Portfolio management works to achieve organization strategic business goal.This helps organization to manage resource, enhance the benefit of organization and reduce the risk.
In portfolio management programs and projects may not be related but it helps in achieving organization strategic business goals.
What is PMO?
Project Management Offices help organization to manage project in standardized and centralized form which includes the following
- Supportive: Provides templates, lesson learned, and policies for managing the project within the organization. It has low level of control over the project.
- Controlling: It provides guidance, train people, provide software’s and tools, and ensure compliance of the organizational practice. It has moderate level of control over the project.
- Directive: It provide manager to the project and are responsible for the success and failure of the projects. It has high level of control over the project.
PMO is the unit or say department in the organization, it is not a single person or entity.
There are different types of organizations
Functional organizations are set up to give authority to functional managers,projectized organizations give it to the PM, and matrix organizations share
responsibility and authority between the two.
In functional organization
- Project management decisions need to be cleared with functional managers.
- Project managers are assistants to the functional managers in getting the work done.
- Project managers spend a lot of time doing administrative tasks and often only work as PMs part of the time.
- You’re likely to find project expediters in functional organizations.
In Matrix organization : Weak , Balanced, Strong
- PMs have some authority, but they aren’t in charge of the resources on a project.
- Major decisions still need to be made with the functional manager’s cooperation or approval.
- Project expediters and project coordinators can work in weak matrix organizations, too.
Project managers share authority with the functional managers.
PMs run their people‑management decisions by the functional manager, but the functional manager runs his project decisions by the PM, too.
Project managers have more authority than functional managers, but the team still reports to both managers.
The team might be judged based on performance on their projects, as well as on their functional expertise. In a strong matrix, delivery of the project is most important.
Teams are organized around projects. When a project is done, the team is released, and the team members move on to another project.
The project manager makes all of the decisions about a project’s budget, schedule, quality, and resources.
The PM is responsible for the success or failure of the project.
Sometimes companies will use multiple organization types to get different kinds of projects done. Those organizations are called composite organizations.