What is Program Management?

In this podcast, Ricardo talks about program management. He explains that the main objective of the program management it to group projects to obtain a benefit that would not be possible if treated singly. Ricardo also talks that the projects contained in a program have the same interest tactical, operational, and the same synergy.

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Episode transcript

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Hello everybody welcome to the five minutes PM. Today I like to discuss with you that concept of program management, that was a lot of mistakes in a lot of people that mix up all the concepts. What is portfolio management, program management, project management. Yeah. And sometimes the use of those wards by different companies bring a lot of MES to understand what they do a real concept of program portfolio and project.

So what this program, Management what's first what's a program. A program is a set of projects. So this group of projects, they are together, a book why they are together, they are together because together they can save money, save time, and reach more benefits or a rich benefits that they could not reach alone.

And the bays that I want to share with you, the ward in program management is that synergy synergy. So if you need to remember just one word about Program Management it's synergy, you put together because together you we'll have two plus two with five and not for this is synergy. So the economy of scale, save resources. Let's suppose that you have two different projects.

And both of them, you are an American company with operations in middle East, and you have two projects in the same city. The projects are a completely different, but they are basic in the same city. So you can put them in a program together if you decide to do that. And why? Because, okay, all the infrastructure and all the administrative side, all of this, we'll be only one for both projects. So this will bring synergy because of save time, save money.

I will have better cultural over the process. So this is a benefits aren't related to program management. It's a tactical approach. It's a way that it's not a strategic approach. So portfolio management is the process to select projects and control them. But portfolio management is much more this strategic approach and say what projects I should do next year to deliver a strategic benefits I'm expecting.

And Dan Program Minutes we went in which projects can I put together time to save money, to improve quality, to reduce stress. So this is extremely important. Let me give you an example. Brazilian government has one problem that they call Program a problem of accelerated growth. And this is the use of the word program and why the use of the word Program. And this brings us a lot of problems regarding understanding what's Program Management it was this project of the problem of accelerated growth.

They act together not because of tactics, but because of strategy, because this product, they accelerate the growth, but the right word in this case should be portfolio portfolio off to celebrate that growth. Okay. Hear I have 20 a hundred projects that they are together only because they support the same strategy that I'm working with. And this is strategies to accelerate growth, insight, a portfolio where I can have different problems, but the problems, the word Program is much more or less, and the word portfolio.

So a lot. What about people use the word Program to represent portfolio, but it's very clear. We need to understand that there is a clear difference between two 45 year strategy. Program it's tactical. I'm putting together to save, to have synergy, to have a car. We have scale to save its not because of strategies. Of course I can have a portfolio with just one problem incite and all the projects they are also is strategic related.

But this is not the topic. The topic of Program Management is exactly. Make sure that you have more benefits with this projects together than managing them alone as a single project. So it's very important and I hope you can understand this and remember always Program Management it's synergy you put together because they have synergy portfolio Management they're together because they haven't a strategic link amongst there's a 14 and project it's to deliver on time on budget, a single work or product that you are developing.

I hope you enjoy. And I hope you understood this difference. I have a great week and see you next week with another five minutes beyond Podcast.

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