Project
|
Programs
|
Portfolios
|
Projects have a narrow scope
with specific deliverable.
|
Programs have a wide scope that may have to change to
meet the benefit expectations of the organization.
|
Portfolios have a business scope that changes with the
strategic goals of the organization.
|
The project manager tries to
keep change to a minimum.
|
Program managers have to expect change and even embrace it.
|
Portfolio managers continually monitor changes in the broad environment.
|
Success is measured by budget,
on time, and products delivered to specification.
|
Success is measured in terms of Return on Investment
(ROI), new capabilities, and benefit delivery.
|
Success is measured in terms of aggregate performance of
portfolio components.
|
Leadership style focuses on
task delivery and directive in order to meet the success criteria.
|
Leadership style focuses on managing relationships, and conflict resolution. Program manager’s need to facilitate and
manage the political aspects of the stakeholder management.
|
Leadership style focuses on adding value to portfolio decision-making.
|
Project managers manage
technicians, specialists, etc.
|
Program managers manage project managers.
|
Portfolio managers many manage or coordinate management
staff.
|
Project managers are team players
who motivate using their knowledge and skills.
|
Program managers are leaders providing vision and leadership.
|
Portfolio managers are leaders providing insight and synthesis.
|
Project managers conduct
detailed planning to manage the delivery of products of the project.
|
Program managers create high-level plans providing
guidance to projects where detailed plans are created.
|
Portfolio managers create and maintain necessary process
and communication relative to the aggregate portfolio.
|
Project managers monitor and
controls tasks and the work of producing the projects products.
|
Program managers monitor projects and ongoing work through governance
structures.
|
Portfolio managers monitor aggregate performance and value indicators.
|
Thursday, November 28, 2013
The Difference Between Portfolios, Programs, and Projects
From the Project Management Institute - The Standard for Program Management:
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