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What is the difference between a Program Manager and a Project Manager?

What is the difference between a Program Manager and a Project Manager?

Introduction:
Any organization can stay ahead of the competition by having a solid project management process. Most companies will take on multiple projects depending on their market needs and market trends. These projects are managed by project managers and are carried out as separate projects. They can also be combined under one or more programs that are assigned to a manager. All projects and programs can be combined into a single portfolio depending on the type of project.
This section attempts to draw a distinction between programs and projects. It also lists the key responsibilities of the project managers and program managers, as well as brief descriptions of their respective roles in each assignment.
Program Management:
A program is a collection of related projects, programs that are not part of the same program, and activities that are related to them. They are coordinated to reap the benefits that can only be achieved by operating them together.
Program management is the process by which several related projects are managed. This is often done with the goal of improving the performance of an organization and meeting market competition. Programs can be composed of multiple projects, regardless of their outcome, structure, or domain. Program management will include certain project management roles.
PMBOK 6th Edition states that program management is about interdependencies between projects and at the program level. It is to determine the best way to manage them.
Management actions may include, but are not limited to:
Allocating program scope into program components

Management of interdependencies between program components

Program risks that could impact multiple projects within the program

Allocating the program budget to the projects

Measuring the program’s planned benefits and ensuring they are met

Program Manager:
A Program Manager is the person responsible for managing a project or set of projects.
As shown in the figure below, a program manager manages multiple projects at once. He must ensure that master plans are followed and to find solutions to program problems.
Mentoring key people to improve performance. Direct the reporting project managers to ensure the completion of all assigned projects on time, within budget. His main responsibilities include:
Governance

Alignment

Management

Integration

Optimization

Tracking

Infrastructure

Budgeting

Realize your corporate vision

The program manager must be familiar with the financial strategies of the organizations. The program’s performance has a direct effect on the financial health of the organization.

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Project Management:
As we all know, a project is a temporary and unique initiative that can be taken up by anyone or any organization. It is carefully planned to produce the desired/planned product, outcome or service.
Project management is about managing the project within the constraints. Project Management, in a wider sense, refers to the application of knowledge and skills to project activities to meet project requirements.

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Project Manager:
According to PMBOK 6th Edition, the project manager is the person who is assigned by the performing organization as the leader of the team responsible for achieving project objectives.
He/She is responsible for the maintenance and development of the project business case. He/She should collaborate with the program managers when working with a program to ensure that the project management documents align with the program documentation.