Program and project management for capital projects
The IBM® TRIRIGA® program and project management process automates, streamlines, and manages capital project processes. You can manage all aspects of a capital project, from project setup to the execution and closeout of the project.
Project management consists of lower-level tasks that are related to achieving goals specific to a capital project. For example, these goals might include planning, budgeting, allocating resources, and tracking projects.
Program management is the higher-level management of multiple capital projects. Programs provide oversight to the capital projects and align project objectives with overall business goals.
For instance, a university plans to renovate the roofs on all of its buildings. Reroofing all of the buildings is a program, and each individual building is a separate project.
The program and project management process includes any personnel who are responsible for setting up, tracking, maintaining, or managing projects.
Program and project management process is designed to ensure the completion and proper management of a project.
The following steps show the program and project management process:
- Program setup consists of setting up funding for the projects included in the program.
- Project setup includes creating cost codes, templates, and creating a capital project.
- Planning projects involves building and reviewing designs and managing project risks, roles, and budgets.
- Project procurement consists of bidding, standard contracts, requests for quotes, and purchase orders.
- Project execution includes managing, authorizing, starting, and completing work. This step includes tasks like managing requests for information and potential change orders. This step also requires the delivery of materials and the supervision of progress and budgets.
- Project and program closeout includes a punchlist, checklists, and transferring any funds that remain.