Successful business value realization begins with comprehensive strategic planning and management. Organizational strategy can be expressed through the organization’s mission and vision,

including orientation to markets, competition, and other environmental factors. Effective organizational strategy provides defined directions for development and growth, in addition to

performance metrics for success. In order to bridge the gap between organizational strategy and successful business value realization, the use of portfolio, program, and project management

techniques is essential. Portfolio management aligns components (projects, programs, or operations) to the organizational strategy, organized into portfolios or subportfolios to optimize

project or program objectives, dependencies, costs, timelines, benefits, resources, and risks. This allows organizations to have an overall view of how the strategic goals are reflected in the

portfolio, institute appropriate governance management, and authorize human, financial, or material resources to be allocated based on expected performance and benefits. Using program

management, organizations have the ability to align multiple projects for optimized or integrated costs, schedule, effort, and benefits. Program management focuses on project

interdependencies and helps to determine the optimal approach for managing and realizing the desired benefits. With project management, organizations have the ability to apply knowledge,

processes, skills, and tools and techniques that enhance the likelihood of success over a wide range of projects. Project management focuses on the successful delivery of products, services, or

results. Within programs and portfolios, projects are a means of achieving organizational strategy and objectives. Organizations can further facilitate the alignment of these portfolio, program,

and project management activities by strengthening organizational enablers such as structural, cultural, technological, and human resource practices. By continuously conducting portfolio

strategic alignment and optimization, performing business impact analyses, and developing robust organizational enablers, organizations can achieve successful transitions within the portfolio,

program, and project domains and attain effective investment management and business value realization.

1.7 Role of the Project Manager
The project manager is the person assigned by the performing organization to lead the team that is responsible for achieving the project objectives. The role of a project manager is distinct

from a functional manager or operations manager. Typically the functional manager is focused on providing management oversight for a functional or a business unit, and operations managers

are responsible for ensuring that business operations are efficient.