The video is a tutorial on project management, program management, and portfolio management. It begins by explaining project management, which involves coordinating teams, setting deadlines, and monitoring the progress of individual projects. The person leading these projects is called a project manager, who has responsibilities like collaborating with clients, managing the project budget, coordinating with team members, conducting risk analysis, setting milestones, and checking progress.
Next, the video moves on to program management, which involves overseeing multiple related or unrelated projects that aim towards the same objective. The professional leading this is called a program manager, who coordinates multiple teams across different professional disciplines, develops overall strategic financial and operational objectives, handles project interdependencies, conducts risk mitigation, and creates program timelines and milestones.
Finally, the video discusses portfolio management, which involves the selection, prioritization, and control of organization programs and projects, in line with the company's strategy and capacity to deliver. The portfolio manager sees the overall picture based on the company's vision or objectives and prioritizes projects that align with the company's benefits or objectives. They are responsible for implementing project and program management approaches and processes, determining the most important business objectives, establishing financial and budgetary initiatives, and overseeing large-scale resource allocation.
The video concludes by emphasizing the importance of ensuring that all projects and programs help achieve program level goals and the organization's strategies.
1. The video is about project management, program management, and portfolio management.
2. Project management involves coordinating teams, setting deadlines, and monitoring the progress of individual projects.
3. The person who leads the projects is called a project manager.
4. The responsibilities of a project manager include collaborating with clients to determine project goals and scopes, managing the project budget, managing the team and resources, conducting risk analysis, setting milestones, and checking progress.
5. Program management is the process of overseeing multiple related or unrelated projects that strike towards the same objective.
6. The professional under program management is called a program manager.
7. The responsibilities of a program manager include coordinating multiple teams across different professional disciplines, developing overall strategic financial and operational objectives, handling project interdependencies, conducting risk mitigations, creating program timelines and milestones, and prioritizing projects.
8. Portfolio management involves the selection, prioritization, and control of organization programs and projects in line with the strategy and capacity to deliver.
9. The portfolio manager prioritizes and adds value to programs or projects that align with the company's objectives.
10. The portfolio manager's work includes aligning projects with the organization's strategy, managing projects accordingly, shifting priority, and giving more attention to some projects based on whether they are aligned with the organization or not.
11. The portfolio manager is responsible for implementing project and program management approaches and processes.
12. The portfolio manager also determines the most important business objectives, establishes financial and budgetary initiatives, and oversees large-scale resource allocation.
13. The portfolio manager ensures that all projects and programs help achieve program level goals and that the program and project level objectives align with the organization's strategies.