Best Practice Overview
Organizations execute their strategic goals along three main levels: portfolio, program, and project management. These three levels have different objectives but should work collaboratively to deliver strategic results. While project management is focused on delivering a tangible outcome, portfolio management is focused on the decision-making process for programs and projects to be executed and aligned. Program Management is the integrative mechanism between the identification of strategic objectives, expected benefits and the project level where they are produced.
Best Practice Implementation Considerations
As a successful management best practice, Program Management focuses on these key considerations and areas:
- Identification and Mapping of key strategic objectives to the program level
- Program Initiation: Project Charter development and approval
- Program Governance: Program Execution Planning and Program Infrastructure
- Constituent Project Identification, Alignment, and Performance
- Stakeholder Identification and Communication, Steering Committee Infrastructure
- Benefits Realization: Ongoing program performance and status
Best Practice Summary
Program management is focused on the delivery of business benefits and is an integrative practice bringing strategic objectives to fruition by organizing and aligning constituent projects and their key deliverables.