There’s a bit of confusion regarding the difference betwixt Portfolio Managers and Program Managers & Project Managers. The roles do interact to some degree but they are certainly different.
First off, let’s define a Portfolio. It is a group of Programs to achieve a specific strategic business goal. They may not be related other than the fact they are helping to achieve a strategic goal. From PMI’s Voices on Project Management Blog:
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Portfolio Management |
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I have to say that Portfolio Management sounds like a fascinating endeavor. I haven’t work in any organizations, nor really known any personally, that have formalized Portfolio Management. They may have been big enough to make use of Portfolio Management but I have a feeling that many organizations, even if they have formalized Project Methodologies and employ certified PMP’s, don’t go the full bore into the upper echelons of Portfolio Management. That takes a level of specialization and organization that most organizations don’t have. That’s not to say they couldn’t benefit from the practice but that they simply lack the willpower or even knowledge of the benefits of Portfolio Management. For many, it’s enough of a miracle that they might even have a formalized PMO.