It seems to me there is a large crossover between program and portfolio management. What would you say are the clear features of portfolio management that do NOT exist in program management? Saving Changes...
Like Programs, Portfolios can be cross-matrixed or specialized. However, Program & Portfolio Management do differ. Several high-level features of the Portfolio Management role include:
1) Has visibility to c-suite Strategic Objectives detail (i.e. financial goals & requirements);
2) Drives achievement of Strategic Objectives through deep understanding of c-suite financial goals & requirements and alignment of Portfolio's objectives;
3) Identifies & engages team to identify & plan which projects/programs are needed to meet Portfolio's objectives;
4) Leads team to determine initial budgets, scopes, durations & resources needed (incl. sponsorships), ensuring initial plans/charters are drafted for each project/program; and
5) Engages with Project/Program Managers, supports projects/programs w/leadership & cross-functional communications, and tracks & reports Portfolio status & KPIs to c-suite/leadership (i.e. status, financial health of Portfolio).
Thanks Mary, a lot of these are related to c-suite access. Smaller companies do this with programs as well, but I see your point.
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1 reply by Mary Jane Monsivais
Jul 06, 2018 7:15 AM
Mary Jane Monsivais
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Yes, access to the c-suite and managing at a higher level in the organization is a key differentiator. I've served as a PM/PgPM in large corporations (10k+ employees). The PgPM & Portfolio management roles are distinctly different.
I've also been a PM/PgPM in small companies (100 employees), where Portfolio Management responsibilities tend to belong to a People/Product/Service Manager (Director, VP) regardless of their Portfolio Management knowledge or experience.
Agreed that there needs to be more definitive literature or guidelines established. If of interest, PMI members can make a difference by serving on a PMI committee that develops, writes, & puts forth their work for adoption by PMI. (I sat-in on a PMBOK session at a PMI Congress in Seattle WA USA several years ago.)
A committee can likely be joined online as well. I haven't sought-out information, but it may be under one of the main menu headings on the PMI.org site. Best Regards, MJ
Perhaps a definitive guide that distinguishes the two? Something in portfolios that is absolutely not used in programs. Not just that it is used predominantly with portfolios. Saving Changes...
Thanks Mary, a lot of these are related to c-suite access. Smaller companies do this with programs as well, but I see your point.
Yes, access to the c-suite and managing at a higher level in the organization is a key differentiator. I've served as a PM/PgPM in large corporations (10k+ employees). The PgPM & Portfolio management roles are distinctly different.
I've also been a PM/PgPM in small companies (100 employees), where Portfolio Management responsibilities tend to belong to a People/Product/Service Manager (Director, VP) regardless of their Portfolio Management knowledge or experience.
Agreed that there needs to be more definitive literature or guidelines established. If of interest, PMI members can make a difference by serving on a PMI committee that develops, writes, & puts forth their work for adoption by PMI. (I sat-in on a PMBOK session at a PMI Congress in Seattle WA USA several years ago.)
A committee can likely be joined online as well. I haven't sought-out information, but it may be under one of the main menu headings on the PMI.org site. Best Regards, MJ
Yes, access to the c-suite and managing at a higher level in the organization is a key differentiator. I've served as a PM/PgPM in large corporations (10k+ employees). The PgPM & Portfolio management roles are distinctly different.
I've also been a PM/PgPM in small companies (100 employees), where Portfolio Management responsibilities tend to belong to a People/Product/Service Manager (Director, VP) regardless of their Portfolio Management knowledge or experience.
Agreed that there needs to be more definitive literature or guidelines established. If of interest, PMI members can make a difference by serving on a PMI committee that develops, writes, & puts forth their work for adoption by PMI. (I sat-in on a PMBOK session at a PMI Congress in Seattle WA USA several years ago.)
A committee can likely be joined online as well. I haven't sought-out information, but it may be under one of the main menu headings on the PMI.org site. Best Regards, MJ
