For any professional working on projects, it become very important to understand the difference between project, program and portfolio to better manage each one of them.
KnowledgeWoods – PMP® Global R.E.P. & Microsoft® Partner, has been working closely with professionals worldwide for their PMP® Certification and Competency Development Initiatives.
In this KnowledgeWoods video, we are going to explain what is a project, program and portfolio.
- What is a Project, Program and Portfolio.
- Differences between Project, Program and Portfolio.
- How these initiatives are important from an organization perspective.
The relationship among portfolios, programs, and projects is such that a portfolio refers to a collection of projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.
Programs are grouped within a portfolio and are comprised of subprograms, projects, or other work that are managed in a coordinated fashion in support of the portfolio.
Individual projects that are either within or outside of a program are still considered part of a portfolio.
Although the projects or programs within the portfolio may not necessarily be interdependent or directly related, they are linked to the organization’s strategic plan by means of the organization’s portfolio.
This KnowledgeWoods Video is a part of PMP® – Project Management Professional Certification Exam Preparation Content. For more details, please visit:- http://www.knowledgewoods.com