You are on page 1of 5

Manuel, Michael Brian D.

BSEE Elective 1 (EE-ELEC1)
Prof. Engr. Daniel P. Durias
Assignment # 1
1) Relationship between Project management, Program management and Portfolio
- Project, program and portfolio management is not just the same, it seen in mature and
well established organization where conduct multiple project. 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.
 Project management – is undertaken to realize one or more deliverables,
with which it contributes to realization of benefits. It is the application of
knowledge, skills, tools and technique to project activities to meet project
requirements. Project manager must not only to strive to meet scope,
time, cost and quality of project but also facilitate the entire process to
meet the need and expectations of the people involve or affected by the
project activities.
 Function of Project Management
1) Collect and analyze reports.
2) Communicate information to program management and make
sure that the information is correct.
3) Identify the changes that are required in the project by giving
reasons and its expected outcome.
 Program management – is manage by a program manager, who oversees
the project 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. Also program
managers are managing things themselves and, are a communication
channel between the project managers and portfolio managers.
 Function of Program management
1) Collecting performance report from projects and submitting
performance report of programs and projects to portfolio
2) Analyzing requests of changes in projects or programs and
submitting it to the portfolio managers.
 Portfolio management – is the centralized management of one or more
portfolios, and includes identifying, prioritizing, authorizing, managing
and controlling projects, programs and other related work in order to
obtain specific strategic business objectives of the organization. Portfolio
management is managed by the portfolio manager.
 Function of portfolio management
1) Strategies and priority areas are defined and communicated.
2) During the course of implementation, the strategies and
priorities are further elaborated on the lower level.

that does not belong works. 2 . . 5) Communicate the impacts if any due to the changes made in one project or program to other projects or programs. staff and the project manage the portfolio managers and provide management staff. Characteristic Project Management Program Management Portfolio Management Definition A limited set of effort A group of related A collection of (work) to create a unique projects and possibly projects. Program and portfolio management. overall leadership. Management Project manager Program manager Portfolio manager manages or coordinates manage the program may coordinate or the project to its success. Change Project manager expects Program manager Portfolio manager change and implements must expect changes continually monitors process to manage and from both inside and changes in the broader control it. Relationships between Project. 4) Take decision on changes that are requested from programs and projects during the course of projects and programs. service or some related work and other related results.- 3) The governing methodology of the organization is communication. programs. including vision. outside the program context of the strategic and thrive on them if plan of the they help maximize organization. to any project. the strategic benefits and objectives of the program. Program and portfolio management. product.Comparison between Project.

including delivering the planned product. Success relates to the project and is measured generally by the criteria of completing the project within the planned budget. which means overall goals and benefits will be achieved within the planned budget and schedule. Portfolio manager performs planning at the portfolio level. Portfolio manager manages the aggregated portfolio performance and value indicators. The degree of customer satisfaction is another parameter to measure success. Success relates to overall portfolio performance. A portfolio has a business scope that changes with the change in the strategic plan and goals of the organization. to lead the program to success. which is an aggregated performance of all of its components: programs and projects. or services of the project. Program manager develops the program plan and performs high level planning to provide guidance at component level planning such as project planning A program has a wider scope dedicated to meeting the benefits in context of the strategic goals of the organization. Program manager monitors the progress of program components. which includes developing and executing necessary processes. including projects and program-related and non-project work. including communication. The scope is developed and monitored and controlled throughout the life cycle of the program by using progressive elaboration. cost and scope. results.Monitoring Planning Scope Success Project manager monitors and controls the project activities (tasks) undertaken to produce the planned products. At a given time. Project manager develops. 3 . Success relates to the overall program and is measured in terms of benefit delivery expected from the program. monitors and control project plans from high-level information throughout the project lifecycle by using progressive elaboration. a project has a scope limited to meeting its objectives.

A project can be of three types: materials management.The firm understands client expectations from the client at this stage.Project management is considered one of the most important functions of an operations manager. While materials management is the primary form of project management. The scope of operations in both areas is indeed wide—the operations manager needs to ensure smooth processes and also make sure that the products and services under his control generate profits. 2) Project Planning and Design stage. and how success or failure will be measured of the ongoing project. 5) Project completion (if not continuous). time table for the project. project details. It is not unusual for Operations manager to have both service and material elements in one project. 3) Project execution and Construction stage. service management or both. Services management is one of the areas an operations manager is usually expected to look after.responsibilities of an operations manager in each area of project management: 1) Project initiation stage. This stage is critical.2) Project Management Office Structure. . 4 . 4) Project monitoring. You need to know deadline. 6) Project execution stage (if continuous) with input from evaluation stage. Increased competition among companies in the recent times has resulted in additional responsibilities being added to just about every PM portfolio. 7) Requirements gathering . evaluation and controlling systems. service management is a recent addition to the project management portfolio. as the operations manager needs to understand the requirements clearly so that the deliverable clearly fulfill client requirements. 3) Project Management and Operational Management. .

The operations manager plays an important role in formulating the quality and compliance standards for the deliverables. but still will fail in the long run due to returns and need to re manufacture. It is especially important to find out where the problems might occur. whether the deliverable is fit to be delivered. The inventory must be in a position to store the supplies well. project might be on time. what could be the bottlenecks of the project. and the firm must be able to retrieve the raw materials as and when required. The operations manager needs to constantly ensure that the supplies are ready for the project on time. with the help of the assurance personnel. Since encountering a significant bottleneck problem without anticipating it can take days or even weeks and months for the larger projects. The operations manager needs to maintain a checklist and needs to evaluate. This might not affect time table of project.The operations manager needs to develop a sound inventory management system keeping the assignment in mind.The operations manager needs to be constantly in touch with the quality assurance personnel so that the qualities of the deliverables fulfill the agreed quality criteria.8) Supply chain management .The operations manager needs to get in touch with the suppliers and inform them about the exact nature of supplies that are needed to fulfill the client requirements. and the qualities of materials are low. 9) Inventory management . Often project gets hold up and fall behind the schedule because the inventory wasn’t properly prepared. 5 . but it can certainly affect longevity of it. 10) Quality management . If new project is manufacturing of car part.