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Strategic Portfolio Management

How Are Projects Programs and Portfolios Different?

As a certified project manager and portfolio manager, I am often asked, what is the difference between project, program and portfolio management? The way I explained it is to use the metaphor of a musical concert series, and it goes like this.

If you are a fan of opera, orchestra music or love a Jazz series program, then this analogy should make sense. When I think of projects, programs and portfolios I think of them in terms of musical concerts. The entire season of musical concerts would be the portfolio, each event or concert in the season would be the program and each song within a concert or program would be a project. So, you would equate a portfolio to a concert series, you would think of the concert event with multiple songs as a program and each song as a project.

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5 Secrets for Strategic Growth

Have you ever gone to a concert and heard a band that you didn’t know performing one of your favorite songs? All the notes are correct, and the singers are singing in tune, but the performance is just okay, it does not move you. Then, you go and hear the same song from a different group, and you immediately rise to your feet and started grooving? The difference is talent plus passion and not talent alone, and that is the secret. In this article, I will share what I believe are the five secrets to strategic growth which are much like listening to a band that makes you want to groove.

 1. Align your organization with its value proposition.

What is your organization’s value proposition? Your value proposition is the promise that you are making to your customers that your products or services will address and meet their needs for the jobs they need to complete, the pains they need to alleviate, and the gains they want to achieve.

To read the complete article click here.

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