A disciplined practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria within a specified time. It involves applying knowledge, skills, tools, and techniques to project activities to ensure project requirements are satisfied. By breaking down projects into manageable tasks, setting clear objectives, and maintaining open communication, project management ensures that projects are delivered on time, within budget, and to the desired quality standards. This process is vital for organisations to consistently achieve project outcomes, mitigate risks, and adapt to changes, thereby contributing to overall strategic objectives and success.
Coordinated management of multiple projects and change management activities to achieve strategic business objectives. Overseeing a portfolio of projects, ensuring they align with the broader business goals and deliver a combined value. This holistic approach involves managing interdependencies, risks, resources, and benefits across projects, facilitating effective governance, stakeholder engagement, and change management. By providing a framework for decision-making and prioritisation, programme management enables organisations to navigate complex changes and realise strategic outcomes efficiently and effectively.
A centralised unit function within an organisation that sets standards for project, programme or portfolio management. It functions as a hub of guidance, governance, standardised processes, and best practices to ensure project alignment with corporate strategy and objectives. The PMO can either directly manage projects or provide support and oversight to project managers in various departments. By fostering consistency, efficiency, and quality in project execution, a PMO enhances an organization's ability to deliver successful projects on time, within budget, and in alignment with strategic goals, ultimately contributing to improved project outcomes and organizational performance.
A structured approach to transitioning individuals, teams, and organisations from a current state to a desired future state. It involves managing the people side of change to achieve the required business outcomes, minimising resistance, and maximising engagement through effective communication, training, and support strategies through carefully planning, implementing, and monitoring change initiatives ensuring that changes are smoothly adopted, reducing disruptions and enhancing overall performance.
A centralised management of one or more projects, programs, and other related work to achieve specific strategic business outcomes. Portfolio management focuses on ensuring that projects and programs are aligned with the organization's strategic goals, optimizing resource allocation, balancing risk versus return, and maximizing value. By providing a holistic view of all project-related activities, portfolio management enables senior management to make informed decisions about investments and project execution, ensuring that the organization's portfolio is aligned with its strategic objectives and is capable of adapting to changes in the external environment.
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