According to the Project Management Institute (PMI) , “A Program is a group of related projects managed in a coordinated manner to obtain benefits and control not available from managing them individually.” Students will also be taught the fundamentals of project management, from the planning and development phase right through to execution and closeout. In this second view, the point of having a program is to exploit economies of scale and to reduce coordination costs and risks. Product managers concentrate on what to build and why they should build it, while program managers focus on how it will get built and when it will be delivered. Many organizations only run one program at a time, a program containing all their projects. The differences are far greater than spelling and reflect different philosophies. measuring and tracking benefits from the start of the programme or project investment until realisation of the last projected benefit 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. [8] In contrast, project management is about doing projects right. The Project Management Institute (PMI) defines project management as, "The application of knowledge, skills, tools, and techniques to project … Program management and portfolio management facilitate better communication and coordination among projects and programs, resulting in enormous benefits to economies of scale and fewer risks. This office not only assigns program managers to provide oversight, but it is also houses templates, best practices, and standard operating procedures. Software Project Management; A project is well-defined task, which is a collection of several operations done in order to achieve a goal (for example, software development and delivery). As the PMI says, a project is: “…a temporary endeavor undertaken to create a unique product, service or result.” Ergo, project management is: A project management office (PMO) is a group — internal or external to a company — that sets, maintains and ensures standards for project management across that organization. Program Management is the management discipline of controlling the cost, schedule and performance of a project or group of projects to achieve a stated goal. Program management prioritizes strategic thinking over purely tactical response, which is not always an easy transition for project managers to make. A Project can be characterized as: Every project may has a unique and distinct goal. Information and translations of Program management in the most comprehensive dictionary definitions resource on the web. They are overseen by the program manager who accounts to the. Project management is about knowing exactly what your goals are, how you’re going to achieve them, what resources you’ll need, and how long it will take you to reach that specific goal. In this view, a program is a comparably loosely coupled system, whereas large, complex projects are tightly coupled. What is Program Management? For example, the Office of Government Commerce for the UK government. This programmatic grouping of multiple projects provides synergy, consistent management, and greater visibility to stakeholders than individually managed projects. Program management is the application of knowledge, skills, tools and techniques to meet program requirements. Whether they do it themselves or delegate it to others the potential upside the! 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