Project Methodology

Project Management Methodology is a strictly defined combination of logically related practices, methods and processes that determine how best to plan, develop, control and deliver a project throughout the continuous implementation process until successful completion and termination. It is a scientifically-proven, systematic and disciplined approach to project design, execution and completion.

The purpose of project methodology is to allow for controlling the entire management process through effective decision making and problem solving, while ensuring the success of specific processes, approaches, techniques, methods and technologies. Typically, a methodology provides a skeleton for describing every step in depth, so that a project manager will know what to do in order to deliver and implement the work according to the schedule, budget and client specification.

Source: http://www.mymanagementguide.com/basics/project-methodology-definition/

Portfolio Management

Portfolio Management comes into effect when there are multiple programs & projects that can be standalone or interlinked and there is too much work to be effectively managed by one program manager. Portfolio managers guide and oversee the processes and procedures (also known as methodology) that govern the programs and projects. The program manager manages their program of projects while the project managers manage the projects within their responsibility. Portfolio management is typically seen in only the largest of organizations with dozens of active projects.

The purpose of portfolio management is to reduce the risk of related & non-related projects and programs of projects introducing something new into an existing system or systems.

Key Role Distinctions

• Portfolio Managers are responsible for methodology development/improvement as well as training, support and oversight (audit and compliance) of the programs and projects.
• Program Managers are responsible for supporting the projects within their programs while ensuring they stay in step with the project methodology.
• The Project Manager is responsible for all delivery activities of their project.

Program Management

Program Management comes into effect when there are multiple projects that are interlinked with each other and there is too much work to be managed by one project manager. A program manager (typically a senior PM) manages the overall program of projects while the project managers manage the projects within their responsibility.

The purpose of program management is to reduce the risk of related projects introducing something new into an existing system or systems.

Key Role Distinctions

• The Program Manager is responsible methodology development, training of project staff, support and oversight (audit and compliance) of the projects within their program.
• The Project Manager is responsible for all delivery activities of their project.

Project Management

Project management  is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals (benefits) — and thus, better compete in their markets.

Source: http://www.pmi.org/About-Us/About-Us-What-is-Project-Management.aspx

Project Management in Healthcare

The purpose of project management in healthcare is to reduce the risk of introducing something new (technology, workflows) into an existing system (includes technology, workflows etc.).

Key Role Distinctions

The Project Manager is responsible for methodology development, training or project staff, support and oversight (audit and compliance) of delivery activities in a standalone project.

• It’s a temporary group activity designed to produce a unique product, service or result.
• A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources.
• And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies.
• The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects.
• And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need.

Source: http://www.pmi.org/About-Us/About-Us-What-is-Project-Management.aspx