|
Program Management |
Program Management in Today’s Enterprise
Many people interchange “program management” with “project management,” assuming, perhaps, that their meanings are basically the same. While the two terms are interrelated, they are vastly different in how they are approached and by whom. The enterprise program management office (EPMO) often leads program management for outcomes aligned with achieving corporate objectives. One of its primary charters is to orchestrate coordination and interdependencies of cross-enterprise projects comprising the program that together realize strategic goals.
Program management is the coordinated planning, management, and execution of multiple related projects that are directed toward the same strategic, business, or organizational objectives. Program management is more than a collection of similar projects or organizing projects under the same umbrella. Effective program management ensures people and teams are focused and collaborating across departments who are working together to achieve a shared strategic vision.
Multiple programs run concurrently, each meant to create change in the organization to foster growth through innovation and market expansion, digital transformation, and efficiencies. Executing on strategy is difficult due to some uncertainty. Program managers across the organization focus on ensuring alignment to priorities and shifting as priorities change. Because projects often compete for resources in terms of people and dollars, program management must also balance those resources across projects. Program management enables the organization to fund, prioritize, optimize resource capacity, and manage interdependencies and conflicts. Program managers are viewed as strategy execution leaders and have deep knowledge about current organizational capabilities.
Program Management thrives in organizations that embrace uncertainty, leveraging continuous planning as a part of their strategic roadmap and portfolio funding process. From idea to delivery, programs are vital to successfully integrating strategy with delivery.
Many people interchange “program management” with “project management,” assuming, perhaps, that their meanings are basically the same. While the two terms are interrelated, they are vastly different in how they are approached and by whom. The enterprise program management office (EPMO) often leads program management for outcomes aligned with achieving corporate objectives. One of its primary charters is to orchestrate coordination and interdependencies of cross-enterprise projects comprising the program that together realize strategic goals.
Program management is the coordinated planning, management, and execution of multiple related projects that are directed toward the same strategic, business, or organizational objectives. Program management is more than a collection of similar projects or organizing projects under the same umbrella. Effective program management ensures people and teams are focused and collaborating across departments who are working together to achieve a shared strategic vision.
Multiple programs run concurrently, each meant to create change in the organization to foster growth through innovation and market expansion, digital transformation, and efficiencies. Executing on strategy is difficult due to some uncertainty. Program managers across the organization focus on ensuring alignment to priorities and shifting as priorities change. Because projects often compete for resources in terms of people and dollars, program management must also balance those resources across projects. Program management enables the organization to fund, prioritize, optimize resource capacity, and manage interdependencies and conflicts. Program managers are viewed as strategy execution leaders and have deep knowledge about current organizational capabilities.
Program Management thrives in organizations that embrace uncertainty, leveraging continuous planning as a part of their strategic roadmap and portfolio funding process. From idea to delivery, programs are vital to successfully integrating strategy with delivery.
|
Program Management vs Project Management
Program Management and Project Management might sound like similar practices, but they are very different. Program management is common in larger, more mature enterprises mainly because the need is greater as organizations scale, and driving change requires more cross-organization coordination. Program Management ensures people and teams are focused and collaborating across departments who are working together to achieve a shared strategic vision. Programs have a set of outcomes to achieve one or more strategic business objectives. There is often dependencies and uncertainty around the work to be done. They cross silos, require alignment of resources, and result in change to the organization. Project Management refers to the coordination and oversight of a set of tasks completed to produce a result and that result is directly aligned with the program it falls under. Common project management tasks include defining a detailed project plan, managing a project budget, allocating and assigning resources, and generating reports indicating status against schedule and budgets. The key difference between program and project management is the scope. While program management focuses on the broader strategy, continuous improvement, and benefit realization, project management focuses on the specific tasks, deadlines, and tactical execution necessary to achieve the overall program goals. When executed properly, they are synergistic and complimentary. Enterprise Program Management Office Many PMOs are evolving into enterprise program or project management offices (EPMOs) to meet the changing needs of the business, most notably, the increased focus on digital transformation. EPMOs are more apt to develop innovative, high-value products or services based on customer or business needs. This requires a greater emphasis on enterprise planning, delivery and performance to respond to increased digital business demands. The EPMO is in the ideal position to support digital transformation, serving as a central point to manage cross-company program management. Instead of groups across the company working in silos, they come together to effect a change in capabilities. Technology, products, customer service, marketing and other groups must be coordinated to ensure all are working towards the same enterprise vision through various programs. Still, EPMOs face challenges to operationalize strategic plans. Studies consistently find that two-thirds to three-quarters of large organizations struggle to implement their strategies. An adaptive program management approach is necessary to translate strategic vision across the enterprise to deliver outcomes that often impact or change organizational processes. Benefits of Program Management Leveraging program management practices is an effective way to execute cross-functionally and realize strategy. Programs allow the organization to translate strategy into actionable goals to measure performance and mitigate the risk of failure. Metrics should be measurable, attainable, and aligned with the overall goals of the program. 
|
What is Program Management?
Program Management is an organizational function that oversees a group of individual projects linked together through a shared organizational goal or common area of impact. This programmatic grouping of multiple projects provides synergy, consistent management, and greater visibility to stakeholders than individually managed projects. It is a strategic oversight function responsible for the consistent delivery of large-scale initiatives. Programs consist of multiple individual projects, which are typically managed discretely by project managers. Program managers must maintain a strategic plan and schedule for their programs, inform and advise stakeholders, review the status and progress of each project, mentor project managers, and safeguard the quality of each project plan and its deliverables. Program managers take a holistic view of these projects and evaluate the larger context of the combined organizational impact with the interdependencies by leveraging system thinking. What is Effective Program Management For program managers to be successful, they need a host of skills they can tap into. This first and foremost include practical communication skills due to their broad responsibilities and high-level visibility given the vital nature of the programs they oversee. There are three distinct types of communication: status reporting, direction setting, and problem-solving:
Program management prioritizes strategic thinking over purely tactical response, which is not always an easy transition for project managers to make. Program managers provide long-term value for the vision and direction of the company; they help others more concerned with short-term plans, sprints, and deadlines while remaining mindful of the direction of the company as a whole. Programs serve as the connective glue that enables complex initiatives and transitions to be successful, particularly over long periods, and demand competent oversight from its managers. Setting up your Program Management Office (PMO) Setting up a Program Management Office (PMO) does not need to be a huge investment in time and resources. Most likely, your company already has some type of process in the way it handles new clients, fulfills orders, and customer service. A PMO is the next step in the process, where all procedures are documented and agreed upon organization wide. An organized process improves all tasks at every level of the company, being more efficient is being more productive which is increasing company revenues and improving profits. At FUNEL, we can help you start a PMO for your company so you can experience the power of Program Management!! Contact us today, we are ready to help! |
