vertical campaign management to manage all these projects together. So campaign management is a program here. On the contrary; Portfolio management is a group of projects, programs, sub-portfolios and operations to manage a group to achieve strategic objectives. The program or project in a portfolio may be unrelated, but they help achieve a common organizational goal The project manager and program manager do not have the authority to stop a project while a portfolio manager has the power to stop a project. For example, the production of chloralkali (chemical) involves the release of hydrogen gas effluent, which is then used to produce phosphoric acid. So both these projects belong to the portfolio of chemical manufacturing plants. Both of these units require electricity and heat energy to operate. Therefore, although the electricity generation plant project is not directly related to the above-mentioned projects, the production of chemicals depends on the supply of adequate quantities of electricity and utilities (steam). Therefore the establishment of the electricity generation plant along with the portfolio of chemical production units can be termed as a program. Organizational Structure: Organizational structure helps the project oriented organization to manage projects, programs, portfolio and operations in an organized manner. Project management in different organizational structures is listed below. Functional Organization Structure: In this structure, the division of labor is based on the primary functionality of the organization. All of these divisions work independently and report work to a functional manager. This functional manager will be responsible for assigning and tracking work for that functional division. There is little or no authority in project management. (PMBOK, 2017) Matrix organizational structure: in this structure again the functional managers will make the final decisions, but the project manager will share the responsibilities with the functional managers. It is best suited to maintain balance between ongoing operations and projects. The project manager has low or no authority in the weak and balanced matrix while moderate authority in the strong matrix. (PMBOK, 2017) Expected Organizational Structure: In this structure, a project manager has everything under his control for a project. The Project Manager receives direct reports from the project team, regardless of which employees of the organization are involved or working on the project. The planned organizational structure is more suitable for large, long-term projects. (PMBOK, 2017) Variations between different frameworks: There are various frameworks with which we deal with a different project in today's competitive market. Waterfall, PRINCE2, Agile, Lean, etc. They are the following frameworks used in today's complete world. Waterfall: This framework is known as a sequential framework, where the process is performed in sequential format rather than in an iterative cycle through the phases from project initiation to closure. This framework is easy to implement, each component of the process has defined functionality after which the review is performed. This model can be implemented effectively if the requirements are well defined from the beginning of the project, it is not possible to make changes between one cycle and another. It is not feasible for a large project as a requirement might change due to various conditions, such as a change in human behavior or a change in the market. (Shiotsu, 2018) Please note: this is just one example. Get a personalized document from us now.

Topic > vertical campaign management to manage all these projects together. So campaign management is a program here. On the contrary; Portfolio management is a group of projects, programs, sub-portfolios and operations to manage a group to achieve strategic objectives. The program or project in a portfolio may be unrelated, but they help achieve a common organizational goal The project manager and program manager do not have the authority to stop a project while a portfolio manager has the power to stop a project. For example, the production of chloralkali (chemical) involves the release of hydrogen gas effluent, which is then used to produce phosphoric acid. So both these projects belong to the portfolio of chemical manufacturing plants. Both of these units require electricity and heat energy to operate. Therefore, although the electricity generation plant project is not directly related to the above-mentioned projects, the production of chemicals depends on the supply of adequate quantities of electricity and utilities (steam). Therefore the establishment of the electricity generation plant along with the portfolio of chemical production units can be termed as a program. Organizational Structure: Organizational structure helps the project oriented organization to manage projects, programs, portfolio and operations in an organized manner. Project management in different organizational structures is listed below. Functional Organization Structure: In this structure, the division of labor is based on the primary functionality of the organization. All of these divisions work independently and report work to a functional manager. This functional manager will be responsible for assigning and tracking work for that functional division. There is little or no authority in project management. (PMBOK, 2017) Matrix organizational structure: in this structure again the functional managers will make the final decisions, but the project manager will share the responsibilities with the functional managers. It is best suited to maintain balance between ongoing operations and projects. The project manager has low or no authority in the weak and balanced matrix while moderate authority in the strong matrix. (PMBOK, 2017) Expected Organizational Structure: In this structure, a project manager has everything under his control for a project. The Project Manager receives direct reports from the project team, regardless of which employees of the organization are involved or working on the project. The planned organizational structure is more suitable for large, long-term projects. (PMBOK, 2017) Variations between different frameworks: There are various frameworks with which we deal with a different project in today's competitive market. Waterfall, PRINCE2, Agile, Lean, etc. They are the following frameworks used in today's complete world. Waterfall: This framework is known as a sequential framework, where the process is performed in sequential format rather than in an iterative cycle through the phases from project initiation to closure. This framework is easy to implement, each component of the process has defined functionality after which the review is performed. This model can be implemented effectively if the requirements are well defined from the beginning of the project, it is not possible to make changes between one cycle and another. It is not feasible for a large project as a requirement might change due to various conditions, such as a change in human behavior or a change in the market. (Shiotsu, 2018) Please note: this is just one example. Get a personalized document from us now.