Projects, Programs, and Portfolios

Summary

This video provides an insightful overview of projects, programs, and portfolios, emphasizing their definitions, relationships, and management structures. A project is described as a temporary endeavor with specific goals, typically overseen by a project manager. Programs are collections of related projects, managed collectively to achieve broader objectives. The concept of portfolios encompasses multiple programs and projects, illustrating a comprehensive view of organizational activities. Using Adobe applications as a case study, the video highlights how projects and programs are structured within a portfolio, showcasing techniques like 'forward motion' for continuous development.

Takeaways

• 😀 A project is a temporary endeavor with a specific purpose, resulting in a unique product, service, or result.
• 📅 Projects have a definite start and finish, distinguishing them from ongoing operations.
• 🔄 Agile projects often use a progressively elaborated approach, allowing for iterative development.
• 👩‍💼 The project manager (or scrum master in agile) plays a crucial role in leading and facilitating the project to ensure timely completion.
• 🔗 Sub-projects can exist within a main project, typically led by the same project manager, though they may not always have direct oversight.
• 📊 A program is a collection of related projects that are managed in a coordinated way, usually by a program manager.
• 💼 Portfolios consist of multiple programs and projects, encompassing a broader organizational strategy.
• 🖥️ Adobe serves as a practical example of a portfolio containing various programs, such as Adobe Creative Suite.
• ✨ Within a program like Creative Suite 5, multiple projects (e.g., InDesign, Photoshop, Illustrator) contribute to the overall offering.
• 🚀 Adobe utilizes a technique called 'forward motion' to continually enhance their products while developing new features for upcoming versions.

Q & A

What is the definition of a project?

A project is a temporary endeavor undertaken to create a unique product, service, or result, characterized by a definite start and finish.

What does it mean for a project to be progressively elaborated?

Progressively elaborated projects are developed in increments, allowing for changes and refinements throughout the project's lifecycle.

Who typically leads a project?

A project is usually led by a project manager or a scrum master in agile methodologies, who facilitates the project's progress and ensures timely completion.

What is the relationship between a project and its sub-projects?

Sub-projects are smaller components of a larger project and may be managed by the same project manager. They help in breaking down complex projects into manageable parts.

What distinguishes a program from a project?

A program is a collection of related projects managed in a coordinated way, often with its own program manager, while a project is a singular endeavor.

How is a portfolio defined in project management?

A portfolio is a collection of programs and projects, which can include unrelated projects, all managed to achieve strategic objectives.

Can you provide an example of a company that utilizes portfolios, programs, and projects?

Adobe is an example, with its applications forming a portfolio, which includes the Adobe Creative Suite as a program, and various applications like Photoshop and InDesign as projects.

What is 'forward motion' in project management?

Forward motion is a technique where management starts planning and developing new features for future versions of a project while the current version is still in development.

Why might a project have dotted lines connecting it to sub-projects?

Dotted lines indicate that sub-projects may not always be formally recognized or necessary but can help in organizing larger projects when they become too complex.

What role does a program manager play?

A program manager oversees the coordination of related projects within a program, ensuring they align with organizational goals and are effectively managed.