Program , Project, Product,Portfolio Management

Project Management:
With predifined end date for clousre, and more of vertical with managing people and deliveries. Projects are unique and have tripple constraints(scope, budget and time)

Program Management:
1.Programmes and projects are very different kind. Programs are collections of related projects. Program managers manage “project managers”

2. Program Manager has to manage “stakeholders” across the board. Program manager goes upwards and sideways too. Where as project manager goes in vertically downwards. Program manager have wide responsibility unlike “project managers”

3.A Program Manager simply manages teams from all different parts of the business to ensure a successful product.

4.PMI’s latest definition of a programme/program is:

A program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside the scope of the discrete projects in a program.

5.programme is a special kind of portfolio, since the projects are related by their focus on the common goal.

6. program managers manage the dependencies between projects, but not the projects themselves.
Portofolio Management:
If the project under program mangemnet are not related, they are collections various such projects to make a portfolio. This may be organization specific

. Or may be particular Business Unit collection.

Product Manager
In prodcut firms, the slightly differnt definition for program manager is Product Manager. Product manager defines final destion and interim gols. Program Mager defines detailed path to get there.
Project Manager will navigate and control one particular stage of the journey.

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