Prioritizing the it project portfolio essay

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Prioritizing the it project portfolio essay

Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. June Learn how and when to remove this template message Many programs focus on delivering a capability to change, and are normally designed to deliver the organisation's strategy or business transformation.

Program management also emphasizes the coordinating and prioritizing of resources across projects, managing links between the projects and the overall costs and risks of the program.

According to one source, "a Program is a group of related projects managed in a coordinated manner to obtain benefits and control NOT available from managing them individually.

Programs may include elements of related work outside of the scope of the discrete projects in the program Some projects within a program can deliver useful incremental benefits to the organization before the program itself has completed.

Program managers should not micromanage, but should leave project management to the project managers. However, program management might need to deal with interdependencies, conflicts and resource or knowledge sharing among the projects it manages. In public sector work in Europethe term normally refers to multiple change projects: An alternative to the Office of Government Commerce's methodology for program management is that of the private sector Project Management Institute.

Many organizations only run one program at a time, a program containing all their projects. In Project Management Institute terminology, this is more likely to be a project portfolio than a program.

Some larger organizations may have multiple programs each designed to deliver a range of improvements. Some organizations use the concept of Systems Engineering where others use program management. Key factors[ edit ] Governance The structure, process, and procedure to control operations and changes to performance objectives.

Governance must include a set of metrics to indicate the health and progress of the program in the most vital areas. Alignment The program must support a higher level vision, goals and objectives. Assurance Verify and validate the program, ensuring adherence to standards and alignment with the vision.

Management Ensure there are regular reviews, there is accountabilityand that management of projects, stakeholders and suppliers is in place. Integration Ensure that component parts fit together properly to make the intended whole.

Prioritizing the it project portfolio essay

Optimize performance across the program value chainfunctionally and technically. Finances Track basic costs together with wider costs of administering the program.

Infrastructure Allocation of resources influences the cost and success of the program. Infrastructure might cover offices, version controland IT. Planning Develop the plan bringing together the information on projects, resources, timescales, monitoring and control.

Comparison with project management[ edit ] There are the two different views of how programs differ from projects.

In one view, projects deliver outputs, discrete parcels or "chunks" of change; [3] programs create outcomes. By combining these projects with other deliverables and changes, their programs might deliver increased income from a new product, shorter waiting lists at the hospital or reduced operating costs due to improved technology.

The other view [5] is that a program is nothing more than either a large project or a set or portfolio of projects. In this second view, the point of having a program is to exploit economies of scale and to reduce coordination costs and risks.

The project manager's job is to ensure that their project succeeds. The program manager, on the other hand, is concerned with the aggregate outcome s or end-state result s of the collection of projects in a particular program.

For example, in a financial institution a program may include one project that is designed to take advantage of a rising market and another that is designed to protect against the downside of a falling market.

The former seeks to leverage the potential upside; the latter to limit the possible downside. Consider a simple analogy: This highly pressurized aerosol product injects a leak sealant into a punctured tire to stop the outflow of air project A and concurrently re-inflates the tire project Bresulting together in the outcome that is a tire that is once again functional the program comprised projects A and B.

The program manager has been described as 'playing chess' and keeping the overview in mind, with the pieces to be used or sacrificed being the projects. And also according to this view, successful projects deliver on time, to budget and to specification, whereas successful programs deliver long term improvements to an organization.Alphabetical listing of all course offerings from academic catalog at Bellevue University.

The Purdue University Online Writing Lab serves writers from around the world and the Purdue University Writing Lab helps writers on Purdue's campus. In this lesson, we'll explore the definition and elements of risk management within project management, learning ways to ensure your project is successful.

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