Ahmed FathySenior Manager, Enterprise Project Management Office| Department of Education, Northern Territory GovernmentDarwin, Northern Territory, Australia
My Analogy of Project, Program, and Portfolio Management
As a PMP and a passionate tango dancer, I've always found it challenging to explain the difference between project, program, and portfolio management. However, I've come up with an analogy that I hope will help professionals develop a clear understanding of these concepts.
In the realm of project management, let's imagine a musical ensemble. A project can be likened to a single musical instrument producing a solo piece of music. It is a temporary endeavour with a specific goal and a defined set of activities. Just like a musical instrument, a project focuses on delivering a unique output or product within a given timeframe. Building a bridge, developing a software application, or organizing an event are all examples of projects. In this analogy, the project represents the individual instrument playing a solo piece of music.
Now, imagine an orchestra, where multiple instruments and sections come together to create a symphony. A program is like this orchestra, consisting of multiple interrelated projects managed collectively to achieve broader strategic objectives. Similar to an orchestra, a program integrates and coordinates various projects to deliver collective benefits that go beyond what individual projects can accomplish. The projects within a program are interconnected and contribute towards a common goal. The program provides governance, oversight, and coordination to ensure the successful execution of the projects and the realization of the overall program objectives.
To summarize, while a project is comparable to a single instrument playing a solo piece of music, a program is akin to an orchestra where multiple instruments work together under a unified direction to produce a more complex and comprehensive musical composition. Similarly, projects deliver individual outputs, while programs aim to achieve strategic outcomes by orchestrating and aligning the efforts of multiple projects.
Going a step further, a portfolio can be likened to a collection of orchestras. It encompasses multiple programs, projects, and other initiatives, which are strategically selected and managed to achieve organizational objectives. Just as a portfolio may include different types of music ensembles, such as orchestras, chamber groups, and solo performances, a project portfolio encompasses a diverse range of initiatives, including programs, projects, and ongoing operations. The portfolio management ensures that resources are allocated effectively, risks are managed, and the overall performance of the portfolio aligns with the organization's strategic direction.
So, whether you are a project manager, a program manager, or a portfolio manager, I hope this analogy helps you grasp the differences between project, program, and portfolio management. Just as a tango dancer must synchronize their movements with their partner, successful project professionals must synchronize their efforts with the larger goals of their organizations. Together as project management professionals, let's create a harmonious and successful project management symphony! Saving Changes...
I've frequently used the conductor as a good analogy for a PM - bringing different skill sets and competencies together to create harmony. The individual musicians are experts with their instruments and the PM has a good understanding of each without needing to be an expert. Movements in a symphony could be considered phases in a project.
I'm not sure the analogy extends to programs and portfolios as the integrated nature of the former and the strategic alignment and risk/reward balance of the latter don't really translate to the orchestra realm.
Kiron
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1 reply by Ahmed Fathy
May 31, 2023 8:40 PM
Ahmed Fathy
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Thanks for your comments Kiron. Definitely a valid point. The analogy is indeed applicable in different contexts and disciplines as well. However, what would be your best analogy to explain the difference between project/program and portfolio management?
I use the conductor analogy myself for the role of a PM since it requires synchronization and integration. One might extend that to a portfolio by including the orchestra, and other ensembles like bands of different musical genres. The program might include the bands, the concert hall, ticket sales, and other type functions that fit all together to enable concerts year-round. Saving Changes...
Ahmed FathySenior Manager, Enterprise Project Management Office| Department of Education, Northern Territory GovernmentDarwin, Northern Territory, Australia
May 31, 2023 7:27 AM
Replying to Kiron Bondale
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I've frequently used the conductor as a good analogy for a PM - bringing different skill sets and competencies together to create harmony. The individual musicians are experts with their instruments and the PM has a good understanding of each without needing to be an expert. Movements in a symphony could be considered phases in a project.
I'm not sure the analogy extends to programs and portfolios as the integrated nature of the former and the strategic alignment and risk/reward balance of the latter don't really translate to the orchestra realm.
Kiron
Thanks for your comments Kiron. Definitely a valid point. The analogy is indeed applicable in different contexts and disciplines as well. However, what would be your best analogy to explain the difference between project/program and portfolio management?
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1 reply by Kiron Bondale
Jun 01, 2023 8:03 AM
Kiron Bondale
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I haven't seen the need to use an analogy to explain the difference but rather have provided examples which are relevant to the target audience. For example, a compensation package review project might be part of an overall staff retention program which in turn would be part of the HR portfolio for a given company.
Thanks for your comments Kiron. Definitely a valid point. The analogy is indeed applicable in different contexts and disciplines as well. However, what would be your best analogy to explain the difference between project/program and portfolio management?
I haven't seen the need to use an analogy to explain the difference but rather have provided examples which are relevant to the target audience. For example, a compensation package review project might be part of an overall staff retention program which in turn would be part of the HR portfolio for a given company.
