Importance of Program Management?
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Every organization, irrespective of its sectors carries out number of projects and programs every now and then worth billions of dollars to accomplish a certain major goal or set of goals. But a significant number of projects get delayed, or have cost overruns, or fail due to lack of proper management. Program Management, thus, helps in this regard and also for excellent business performance. There are similarities and differences in how the term is used in non-profit and for-profit organizations. Nonprofits usually refer to programs as ongoing, major services to clients, for example, a Transportation Program, Housing Program, etc. For-profits often use the term for very large business efforts that have limited duration and a defined set of deliverables. Nonprofits and for-profits might refer to programs as a one-time or ongoing set of activities internal to the organization, for example, a Total Quality Management Program, Workplace Safety Program, the Space Program, etc. The real value in employing program management is that it focuses on the business results desired and offers a systematic approach for delivering revenue generating or cost reduction solutions that create competitive advantages.
It does this by focusing on the following business needs:
• Aligning strategy and execution
• Managing complexity
• Integrating business functions
Program Management also brings the concept of Programme Management Maturity Model (PMMM). The Programme Management Maturity Model (PMMM) provides a mechanism through which an organisation or a group within an organisation can:
• Evaluate itself in programme management terms
• Compare its own maturity with other organisation on a fair basis
• Compare its own maturity with benchmarks from similar organisations
• Understand its strengths and weaknesses
• Develop a plan to improve its ability to deliver successful programmes
We very often use the terms Programme Management and Project Management interchangeably. But, Programme Management is different from Project Management.
Programme Management - Strategic in nature, focused on business success and ensuring work remains feasible from a business perspective.
Project Management - Tactical in nature, focused on execution success and ensuring work generates deliverables on time, on budget, and fully functional
If implemented correctly,program management can become a powerful element of a company’s product, service or infrastructure delivery system.
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