WHAT IS THE DIFFERENCE BETWEEN

PROJECT,
PROGRAM
&

PORTFOLIO
MANAGEMENT?

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 WHAT IS
PROJECT MANAGEMENT?

Project is a temporary endeavour

undertaken by a company or
organization (such as creating a
new product, service, or result).

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A Project is a temporary
endeavour with a start date/time
and finish date/time and
consumes resources. It is broken
down into various tasks. Hence,
we can say that a project has a
charter, deliverables, timeframe,
budget, and commitment of
resources right at the beginning of
the Project.

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 WHAT IS
PROGRAM MANAGEMENT?

Program is a group of similar or

related projects which are often
managed and coordinated as a
group instead of independently.

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A program is generally a long-
term endeavour consisting of
several concurrently executed
projects. Hence, we can say that a
program will align with the
organizational strategic goals.

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 WHAT IS
PORTFOLIO MANAGEMENT?

A portfolio is a group of programs

and projects within the same
organization which may be related
or unrelated.

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A Portfolio has a bigger scope and
objectives than a program or
project management. It deals with
macro-management of the
organization as against
micromanagement in a Project.

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Portfolio Management supports
the programs and projects
through the optimum allocation
and utilization of resources based
on the organization’s long-term
strategic goals. It results in better
economies of scale and fewer
risks.

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