A program is a group of projects that are similar in scope, activities, and similar subprograms. The purpose of a program is to manage the projects in a coordinated way that would not be possible from managing them individually.
The portfolio includes all programs, projects, and subprograms that meet the strategic objective of the organization Programs and projects do not need to be related in order to be in the portfolio; they only requirement is to be related to the overall strategic objective(s) of the organization.
So what is project management? The simple definition is the management of projects. However, project management is much more than a simple definition. A more useful definition in understanding project management is the application of knowledge, tools, skill, and techniques to project activities in order to meet project requirements.
The implementation phase is where the project plan is put to work as the project manager monitors, executes and controls its implementation. During this phase the project manager interfaces with management, delegates responsibilities, organises resources and communicates with all stakeholders to ensure timely and successful completion of the project. Interpersonal skills of influencing, negotiating and communicating are vital to resolving these challenges. Responsibilities include:
Team management and development
Keeping stakeholders informed and managing their expectations
Measuring and reporting on performance and progress
Monitoring and controlling cost, time and scope
Monitoring risk and quality
Taking corrective action as required.
The final phase is the closure phase. This is when the project manager delivers the finished project to the owner, acknowledges contributions made and documents the work. Reflecting on lessons learned ensures that this experience is passed on to assist other managers.