Project pipeline management in Mexico

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all right let's look at another concept within project management we are talking about projects programs and portfolios so this concept gives you an insight into what project management environments look like and how projects are managed so projects you already have an idea of you know they are temporary endeavors and they are set up to deliver specific outputs or outcomes usually a project would have you know um it's hard to specify because it really depends on how an organization wants to do it but you know generally a project would be going through uh going to deliver uh probably like a a output or a few outputs that are very closely related to one another okay so but when you get into a situation where by your uh project now has to do much more then we are looking at something called a program sometimes it's called a program of works let me paint you a picture so an organization needs to change their customer service uh perhaps they thought that at first all they needed to do was set up a new customer relationship system so the project team they set to they get on to it and uh you know one of the very first things they're going to be doing is they'll be speaking to various stakeholders about the problems they're facing and what they hope could be delivered so by the time the project team finished those exploratory conversations they find out that actually this is uh in order for them to be able to revolutionize the customer service uh process really what they should be doing is they should be setting up a new customer service center they should be recruiting a new team that will be on their phones they need to expand their digital applications to collect more information about how their customers spend they are going to need a team of data analysts to look at all this data that will be collected and be able to feed that information to their sales and marketing team all of a sudden this project has grown into what is called a program you know and the program uh the definition of a program is a group of related or similar projects managed in a coordinated way to get the benefits and control not available from managing them individually now one can argue that all of that can actually be managed as a project now the organization is complex enough if it's big enough if you have uh one person managing the setup of a data center you know what that means you've got to get the location it may have to be built from scratch it has to be equipped it has to be kitted out you've got plumbing you've got electrics you've got all of that that's just for the data center okay you're expecting a person to deliver not just that but to recruit a team of data analysts to work with marketing and sales and so on and so forth all the things that we just talked about apart from the fact that a project manager may not be experienced or equipped to do that it's just too much for one person to handle in terms of really being able to reap those benefits and so that's the reason why you have program management okay and then we say portfolio management so projects and programs are usually grouped based on what a company's strategic objectives are so a portfolio can consist of multiple programs or multiple projects again let me give you another picture so let's say uh an organization is trying to bring about change to it to its own way of working okay and so it has a number of projects and programs that are looking at uh facilities it's looking at sales and marketing it's looking at a supply chain and so on and so forth okay but as an organization it also manages projects and programs for its own clients so bringing those trying to mix and match all of those projects and programs and trying to deliver them from the same kind of like a space may not be the best way to go about it because ideally when you're thinking about a client facing type of endeavors it's a different kind of perspective than when you are talking about something internal internal so essentially with with your client facing endeavors you want to put your best foot forward and with your internal um endeavors you can afford to kind of like uh maximize in terms of economies of scales and things like that so therefore it makes sense for you to separate these two portfolios of work and so you would have your client programs and projects in one portfolio and your organizational change programs and projects in another portfolio so that in a nutshell is what we mean when we talk about project program and portfolio management