Program managers, project managers & portfolio Managers have related and often intertwining roles but are often mistaken by job seekers when choosing a career path or higher studies.
WHAT:
- Project managers will orchestrate the success of individual, temporary one-off projects.
- Program managers will oversee the strategy of all interrelated projects, collectively called a program.
- Portfolio Managers manage dissimilar projects & programs in a group to achieve main strategic objectives.
GOALS:
- Project managers are generally bound by cost, resources, budget, and time constraints. They have clear end dates and short-term goals that give way to tangible outcomes or deliverables.
- Programs are composed of several underlying, interconnected projects that complement and build off one another to achieve a larger, long-term business objective. They drive strategic benefits and organizational growth, rather than a single, tangible deliverable.
- Portfolio Managers will have a bigger scope and objective than program management. They not only focus on budget and risk of unrelated programs but also focuses on future projects/programs and overall organization goal.
TOOLS
- Project Managers use various project management (PM) tools that involves functionality aimed at day-to-day project planning, tracking, and monitoring i.e., Kanban board, Time tracker, To-do lists, budgeting etc.
- Program Managers use various enterprise program management (EPM) tools that work on multiple projects at the same time i.e., as Gantt Chart, LiquidPlanner, ITM, Infinity etc
- Portfolio Managers use project portfolio management software (PPM) tools that handle overarching projects, programs, or products. i.e., MS Project, Hive, Teamwork, GanttPRO etc
SKILLS
- Project Manager’s skills focus on approaches and methodologies (eg. Agile, Waterfall, Scrum), budgeting, risk management, using and implementing project management tools.
- Program Manager’s skills focus on operations and/or business knowledge, leadership and management & multiple projects management.
- Portfolio Manager’s skills focus on more extensive organizational and time management skills, resource allocation, budget management, maximizing business value, building strategy and execution.
Whatever your goal is, identify certifications that will scale up your career in that specific field and remember to highlight the key offerings of this role on your resume, cover letter and LinkedIn profile.
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