Hello Daniel;
First questions from my side: What is the difference between Programs & Program Mngmnt and Portfolios & Portfolio Mngmnt? Can you please explain how we set-up a Program or a Portfolio?
Are they set-up before the Project kick-off or after?
Thank you;
Lumi
Although this may sound weird Portfolios and Programs can exist even if there are no projects, both have elements of operations within them.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
<?xml:namespace prefix = u1 />
So here is a scenario:
We have an airline; they have regional and international routes (OPS-R) and OPS-I). Stuff happens.
It is identified that we need to do e-ticketing, so it is decided to do some projects - eticketing (regional) first (project ET-R), then eticket international second (project ET-I).
We are also going to do an upgrade on our multi-media capability, starting with the international (Project MM-I) and then Regional (Project MM-R).
Our CEO has adjusted our strategic plan and wants to increase our international market my 17%, without decreasing our regional base.
Things are getting complicated, so the director of flight ops decides to get a grip/help.
To meet the strategic objectives, he sets up portfolios
Regional Portfolio Manager who has financial responsibility to maintain the regional base, so they are given OPS-R, ET-R, and MM-R;
International Portfolio Manager is given OPS-I, ET-I, and MM-I and a mandate to increase market by 17%.
So portfolios are driven business or strategic needs. These positions are on the organization chart, and the Portfolio Managers are the sponsors of the projects - they pay for them, and will get the benefits for years to come.
It is quickly realized that most of the personnel on ET-R and the same as ET-I so we effectively have two projects running in different organizations. So rather than doubling up all the project meetings, reports, financial data etc, it is decided to create two programs, the Eticket Program (ET-I and ET-R) and the Multimedia Program (MM-I and MM-R). In reality one of the Project Managers will be given the "Program Manager" title ad well, or the PMO Director could assume that role. This is more of a tactical decision, making meetings and reporting easier, the program manager may not show up on the org chart.
Last point, after the projects are completed, the portfolios still exist, and the programs may still exist, in anticipation of further projects coming up.
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Hello Daniel;
First questions from my side: What is the difference between Programs & Program Mngmnt and Portfolios & Portfolio Mngmnt? Can you please explain how we set-up a Program or a Portfolio?
Are they set-up before the Project kick-off or after?
Thank you;
Lumi
Although this may sound weird Portfolios and Programs can exist even if there are no projects, both have elements of operations within them.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
<?xml:namespace prefix = u1 />
So here is a scenario:
We have an airline; they have regional and international routes (OPS-R) and OPS-I). Stuff happens.
It is identified that we need to do e-ticketing, so it is decided to do some projects - eticketing (regional) first (project ET-R), then eticket international second (project ET-I).
We are also going to do an upgrade on our multi-media capability, starting with the international (Project MM-I) and then Regional (Project MM-R).
Our CEO has adjusted our strategic plan and wants to increase our international market my 17%, without decreasing our regional base.
Things are getting complicated, so the director of flight ops decides to get a grip/help.
To meet the strategic objectives, he sets up portfolios
Regional Portfolio Manager who has financial responsibility to maintain the regional base, so they are given OPS-R, ET-R, and MM-R;
International Portfolio Manager is given OPS-I, ET-I, and MM-I and a mandate to increase market by 17%.
So portfolios are driven business or strategic needs. These positions are on the organization chart, and the Portfolio Managers are the sponsors of the projects - they pay for them, and will get the benefits for years to come.
It is quickly realized that most of the personnel on ET-R and the same as ET-I so we effectively have two projects running in different organizations. So rather than doubling up all the project meetings, reports, financial data etc, it is decided to create two programs, the Eticket Program (ET-I and ET-R) and the Multimedia Program (MM-I and MM-R). In reality one of the Project Managers will be given the "Program Manager" title ad well, or the PMO Director could assume that role. This is more of a tactical decision, making meetings and reporting easier, the program manager may not show up on the org chart.
Last point, after the projects are completed, the portfolios still exist, and the programs may still exist, in anticipation of further projects coming up.