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As a project manager, you should know the basic concepts of program and portfolio and how they are related to each other and to projects. A program may be a part of a higher-level program; it certainly contains some interrelated projects, and it may contain some non-project work as well. Program management focuses on optimally managing the interdependencies among the various projects in the program. The person who manages a program is called the Program Manager.
The program manager's responsibilities are:
• Prioritize to resolve resource conflict and constraints that affect multiple projects within his program.
• Keep your priorities aligned with the strategic goals and objectives of the organization.
• Resolve issues and manage change within the governance structure of the organization.
Just like a project is managed by a project manager, a program is managed by a program manager, who oversees the projects and provides high-level guidance to the project managers. In other words, a program manager oversees projects and coordinates efforts between projects but does not manage the projects
Why is that?
That is because; we the project managers are managing our projects!!!
A portfolio contains both programs and projects and is managed by a portfolio manager. The portfolio is drawn directly from the strategic business plan of the organization.
The strategy of an organization is an action plan to achieve its business goals and objectives. It's also called a strategic plan or a strategic business plan. The strategy determines the portfolio of projects and programs that the organization will execute. A portfolio is a set of projects, programs, or both that is managed in a coordinated fashion to obtain control and benefits not available from managing them individually.
What else can I help you with?
What is the relationship between strategic management and project management?
Portfolio management is the centralized management of one or more portfolios, and it includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work in order to obtain specific strategic business objectives of the organization. Just as a program is managed by a program manager, a portfolio is managed by a portfolio manager. To understand the relationship between these 3 entities, projects, programs and portfolios we need to understand that: • If an organization does not have any programs but has only individual projects, all these projects can be grouped into one or more portfolios. • If an organization has programs and no individual project external to all programs, all these programs can be grouped into one or more portfolios. • If an organization has some programs and some individual projects, all these programs and projects can be grouped into one or more portfolios. Portfolio management focuses on making sure that programs and projects are prioritized for resources to serve the organization's strategy. In simpler terms, a portfolio manager worries about the success of the whole strategy put forth by the organization rather than the success of a single project (like what we do) Therefore, investment decisions are usually made at the portfolio level. Program management focuses on achieving the benefits that would be aligned with the portfolio and hence with the strategic objectives of the organization. So, a portfolio is part of the interface between the programs and strategic business objectives of the organization for which the programs are run
What is the relationship between strategic portfolio management and project management?
Portfolio management is the centralized management of one or more portfolios, and it includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work in order to obtain specific strategic business objectives of the organization. Just as a program is managed by a program manager, a portfolio is managed by a portfolio manager. To understand the relationship between these 3 entities, projects, programs and portfolios we need to understand that: • If an organization does not have any programs but has only individual projects, all these projects can be grouped into one or more portfolios. • If an organization has programs and no individual project external to all programs, all these programs can be grouped into one or more portfolios. • If an organization has some programs and some individual projects, all these programs and projects can be grouped into one or more portfolios. Portfolio management focuses on making sure that programs and projects are prioritized for resources to serve the organization's strategy. In simpler terms, a portfolio manager worries about the success of the whole strategy put forth by the organization rather than the success of a single project (like what we do) Therefore, investment decisions are usually made at the portfolio level. Program management focuses on achieving the benefits that would be aligned with the portfolio and hence with the strategic objectives of the organization. So, a portfolio is part of the interface between the programs and strategic business objectives of the organization for which the programs are run
What is the plural from of portfolio?
The plural of portfolio is "portfolios".
Which companies provide model portfolios?
Companies like BlackRock provide model portfolios. AAII, Couch Potato Portfolios, BMO ETF, and MorningStar are companies that also provide model portfolios.
Where can you find promotional portfolios?
Promotional portfolios can be sold by customers via their website or in their shops. Promanagers is one of the numerous company that sold promotional portfolios.
What are some examples of quantitative science projects that can be conducted to investigate the relationship between variables in a controlled environment?
Some examples of quantitative science projects that can be conducted to investigate the relationship between variables in a controlled environment include measuring the effect of different temperatures on plant growth, studying the impact of varying amounts of fertilizer on crop yield, and analyzing the relationship between light intensity and photosynthesis in aquatic plants.
What is the relationship between duration risk and interest rate risk in investment portfolios?
Duration risk and interest rate risk are closely related in investment portfolios. Duration risk measures the sensitivity of a bond's price to changes in interest rates, while interest rate risk refers to the potential for losses due to changes in interest rates. In general, the longer the duration of a bond, the higher the interest rate risk. This means that portfolios with longer duration bonds are more exposed to interest rate fluctuations and may experience greater losses if interest rates rise.
What has the author Darren Cambridge written?
Darren Cambridge has written: 'E-portfolios and global diffusion' -- subject(s): Employment portfolios, Business and education, Electronic portfolios in education
What is the relationship between stocks and bonds?
Stocks and bonds are both types of investments, but they have different characteristics. Stocks represent ownership in a company, while bonds represent a loan to a company or government. The relationship between stocks and bonds is often inverse, meaning when stock prices rise, bond prices may fall, and vice versa. Investors often use a mix of stocks and bonds in their portfolios to balance risk and return.
Are Constantine and Julius Caesar related?
There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.There is no relationship between Constantine and Julius Caesar.
What is the relationship between state and law?
Distinguish between a public law relationship and a private law relationship.
Who has portfolios?
As in for sale? Amazon.
