Companies that handle various property and infrastructure projects often find difficulties in organizing their tasks. Someone should be in charge of allocating the company’s resources and come up with an appropriate plan to meet all the expectations and deal with all the hurdles in the calmest and most appropriate ways possible. This job falls under the program management department.
A lot of people are often baffled about the definition of program management and project management. To fully understand the difference between the two, here is a detailed discussion about what they are and how they can help a company achieve its business goals.
Program Management
By definition, a program is composed of various smaller projects that depend on each other for existence. Because these programs are often large-scale jobs, it needs a team of people to handle the projects and delegate the tasks across all the members of the team.
The people handling program management are responsible for outlining the tasks’ objectives, conceptualizing execution, handling the management of operations, and presenting an updated report on the status of each task.
Also, the program manager needs to integrate the goals and objectives of the company’s program and the ways that it can affect the business. It must also map out and define the lineup of the dependent project that must be completed to achieve the company’s overall goal. In addition, the program manager must concentrate on creating a strategy and its implementation then delegate the projects to the right departments properly.
If the company has effective program management, they can take advantage of efficient participation of local industry where the project is taking place. They can coordinate with local entities where the work is taking place. It also helps the company have strong system support to smaller suppliers and contractors to increase the depth of their participation in the property and infrastructure industry. Also, it allows for bulk procurement and better supply chain programs to avoid supply delays.
Project Management
Project managers usually handle smaller tasks that come with short-term goals. Generally, project management tasks include managing the operations of a particular project that falls under the company’s program.
The project manager’s responsibility is designated to coordinate the project’s budget, time frame, and resources. He or she must also delegate specific tasks within the team. He or she must also report the progress of the project to the program manager and relay any alterations and adjustments that were made from the initial project plan.
Also, project management can be considered to be more tactical than the tasks that fall under program management. It entirely concentrates on the operational functions of the project like keeping up with the schedule, maximizing the budget, and making sure that the deliverables have been completed.
For more intensive budget management, project managers must hire and coordinate multiple contractors and monitor price increases that took place due to changes in the orders. They must also monitor the budget intended for the materials and pay vendors. They also need to implement different protocols to keep the project under the specified budget.
With the help of reliable program management and project management, the company will be able to achieve their business goals. They can minimize the hurdles that usually come their way since they have a more systematic way of handling tasks within their organization.
