Introduction to the Portfolio Program and Project Management (P3M) Framework
This paper provides a high level description of the steps in the Portfolio, Programme and Project Management (P3M) framework.
Program Management is a strategic approach to managing a group of related projects or initiatives to achieve specific business goals. Program Management involves coordinating, aligning, and integrating multiple projects and initiatives to achieve a common objective.
Program Management provides a holistic view of the projects or initiatives, identifying interdependencies and aligning them with the organization’s overall strategy. It enables organizations to manage resources, risks, and timelines more effectively, ensuring that the projects and initiatives are delivered successfully and meet the desired business outcomes.
The Program Management process typically involves five stages: initiation, planning, execution, monitoring and control, and closure. During the initiation stage, the program is defined, and the objectives, scope, and deliverables are identified. A detailed program plan is developed in the planning stage, outlining the timelines, resource requirements, and interdependencies between the projects or initiatives. During the execution stage, the program plan is implemented, and the projects or initiatives are executed according to plan. Progress is monitored in the monitoring and control stage, and corrective action is taken if necessary. Finally, the program is closed out during the closure stage, and any remaining activities are completed.
Program Management requires a robust governance structure, including a Program Manager who oversees the program, a Steering Committee that provides guidance and support, and a Project Management Office (PMO) that supports the program manager in managing the projects or initiatives.
Effective Program Management requires collaboration among various stakeholders, including senior management, project managers, and business units. Program Managers must communicate regularly with stakeholders, provide status updates, and manage expectations to ensure the program is delivered successfully and meets the desired business outcomes.
Program Management is a critical tool for organizations seeking to manage a group of related projects or initiatives effectively. It provides a framework for managing resources, risks, and timelines more effectively, ensuring that the projects or initiatives align with the organization’s overall strategy.
The Program Management category in our CIO Reference Library is an essential knowledge hub for CIOs, IT executives, and technology leaders responsible for overseeing and executing complex programs within their organizations. This section offers a diverse collection of articles, research papers, case studies, and other documents that delve into the principles, best practices, and latest trends in program management.
In this category, you will find valuable insights into program planning, execution, monitoring, and controlling techniques for managing stakeholder expectations, ensuring effective communication, and facilitating change management. Additionally, you’ll discover practical guidance on integrating project and program management methodologies and leveraging tools and technologies to drive program success.
Topics covered in the Program Management category include:
Stay informed on the latest program management methodologies, strategies, and best practices by exploring the wealth of knowledge available in this category. Designed to empower CIOs and IT executives to make well-informed decisions, the Program Management category aims to help your organization achieve its strategic goals through successful program delivery.
This paper provides a high level description of the steps in the Portfolio, Programme and Project Management (P3M) framework.
The authors make the case for using enterprise architecture planning and models for project optimization because it is uniquely positioned to unearth the root causes of project performance and failure.
This paper discusses the single biggest reason for business value loss: selecting the wrong portfolio of projects. It provides reasons for selecting the wrong project and ways to mitigate this problem.
Identify and circumvent 10 common PMO pitfalls for efficient project execution.
Track project success and inform critical IT decisions with our Metrics for Project Health Monitoring and Management presentation. Learn about key project health metrics, real-world examples, and tips for successful implementation to improve IT decision making.
This presentation discusses project management implementation success factors and proposes a couple of ways to ensure successful outcomes and simultaneously embedding project management discipline in the organization.
This presentation discusses the various view of a project/program management office (PMO) and best practices for implementing an effective and efficient PMO that helps create business value.
This document provides an overview of the Enterprise Performance Life Cycle (EPLC) framework developed by the US Department of Health and Human Services (HHS) . This document identifies the ten phases of the EPLC and describes the associated responsibilities, activities, exit criteria, deliverables and reviews associated with each phase.
This guide introduces key concepts, techniques, principles, procedures, and tools available in project management.<br /><br /><span style="background-color: #ffff00;">Dated Content</span>
Different skills are required to govern a project through its lifecycle with the three most critical being: cost engineering (CE), quantity surveying (QS), and project management (PM). This paper explores the connection, intersection, and divergence between the three.
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