SAB7#2_DEFINITION_PROJECT

Annotations:

• similarities between "PROJECTS - PROGRAMS - PORTAFOLIO" * Professions with proven processes * Business value * Deal with constraints

1. PROJECTS
   1. A project is any work that produces a specific result and is temporary. Projects always have a beginning and an end. Building a house is a classic example of a project. Projects can be part of programs or portfolios, but portfolios and programs can't be part of a project.
2. PROGRAMS
   1. A program is a group of projects that are closely linked, to the point where managing them together provides some benefit. The firm knows from experience that creating huge skyscrapers is dramatically different than buiding residential homes, so residential home construction would be its own separate program.
3. PORTAFOLIOS
   1. A portafolio is a group of projects or programs that are linked together by a business goal. If an architecture firm was venturing into remodeling existing buildings as well as designing new ones, it might split its efforts into separete New Construction and Remodeling portafolios, since the goals for each are quite different.
4. ORGANIZATION PROJECT MANAGEMENT (OPM)
   1. Provides a stregic framework to use and guide portafolio, program, and project management to deliver organizational strategy.
5. OPM3
   1. Organizational project management maturity model. This model is designed to help organizations determine their level maturity in project management.
6. PROJECT MANAGEMENT OFFICE (PMO)
   1. SUPPORTIVE
      1. Provide the policies, methodologies, templates and lessons learned for managing
   2. CONTROLLING
      1. Provides support and guidance in the organization.
   3. DIRECTIVE
      1. Provides project managers for differnt projects.