Besides programs and portfolios, additional structures that combine their different characteristics are: project networks, mega-projects, or mega-programs. A project network is a temporary project formed of several different distinct evolving phases, crossing organizational lines. Mega-projects and mega-programs are defined as exceptional in terms of size, cost, public and political attention, and competencies required.[59] An increasing number of organizations are using what is referred to as project portfolio management (PPM) as a means of selecting the right projects and then using project management techniques[79] as the means for delivering the outcomes in the form of benefits to the performing public, private or not-for-profit organization. Portfolios are collections of similar projects. Portfolio management supports efficiencies of scale, increasing success rates, and reducing project risks, by applying similar standardized techniques to all projects in the portfolio, by a group of project management professionals sharing common tools and knowledge. Organizations often create project management offices as an organizational structure to support project portfolio management in a structured way.[59] Thus, PPM is usually performed by a dedicated team of managers organized within an enterprise project management office (PMO), usually based within the organization, and headed by a PMO director or chief project officer. In cases where strategic initiatives of an organization form the bulk of the PPM, the head of the PPM is sometimes titled as the chief initiative officer.
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