We will discuss the activities involved and the relationship between portfolio management, project management, program management, and project management organizations.
Also, we will look at the project's role in strategic planning and finally we will discuss the project management office and its importance. If you are searching for the best institute of project management in Dublin then you can explore various online sources.
Portfolios, programs, and projects are all related and harmonized with the organization's strategy. In the same way, portfolio management, program management, and project management all contribute to achieving the organization's strategic objectives in different ways.
The various activities in these three fields are all related to the organization's project management (OPM). Organizational project management is the systematic management of programs, projects, and portfolios by the achievement of strategic objectives.
The PMI approach of organizational project management is based on the idea that there is a correlation between the ability of organizations in project management, program management, and portfolio management and the effectiveness of organizations in implementing strategies.
A program is a group of projects that have similar scopes, activities, and subprograms. The purpose of a program is to manage projects in a coordinated manner. Not all projects carried out in the organization will be included in the same program. However, the program will always have a project.
Program management involves providing the application of knowledge, skills, tools, and techniques to the program so that program requirements can be met. Program management focuses on collaboration between projects to determine the optimal approach to managing it.
Usually these projects are interdependent, for example having the same resource requirements, similar governance structures, and strategic organizational directives together with this they may face the same problems and change management considerations.