What is the difference between a program and a portfolio? Why is this important, especially when tied to the goals of the organization?
- Did you know that in Toyota's vision statement they don't mention cars once? They talk about mobility and getting people around. Let's look at an organization's vision, mission, strategy, and objectives, and how all these parts fit together. A company's vision describes why they exist and the statement should be the real driver for an organization. If written and communicated well, it gives the employees a purpose for being there. And this vision is, more or less, permanent.
The mission is the what are they trying to achieve part and this has been, traditionally, the goals you have for the next three to five years, subject to change, of course. Toyota has different mission statements depending on the region of the world that they're doing business in. Here is their mission statement coming out of the U.S. "To attract and attain customers with high-valued products "and services and the most satisfying "ownership experience in America." Your strategy is the how part.
How do you reach your goals? If the goals change and the strategy doesn't, what do you think your chances are of reaching your goals? Not too good I would say. Within Toyota, their strategy will be driven by the mission they have adopted per region. Their strategy in the U.S. is tied to making sure their customers see value in their products and services. The objectives are the when and where parts. When do we reach our goals and where do we find them? How does Toyota USA measure customer satisfaction? Through interviews and surveys.
Repurchase is a key indicator. What about how they're customers talk about them in social media? Customer referrals? All the programs, projects, and even daily operations are the who part. Who delivers the value to the organization to bring value and to reach our goals? For Toyota USA, customer impressions about their after purchase service is crucial. There you have it, the who, what, when, where, and why of an organization.
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- What is program management?
- Who are program managers?
- Program versus project
- Program life-cycle phases
- Aligning programs to an organization's strategies
- Analyzing needs and planning programs
- Delivering and sustaining benefits from programs
- Working with program stakeholders
- Supporting program governance activities
- Managing program finances and resources
- Scheduling programs
- Managing program scope and quality