A portfolio refers to a collection of projects, programs, and sub-portfolios managed as a group to achieve organizational, strategic, and business objectives.
Programs are a group of related projects managed in a co-ordinated way to obtain the benefits and control not available from managing them individually. Programs are grouped within a portfolio and are comprised of:
- Other operational work
A project is a temporary endeavor with a definitive beginning and an end. A project is undertaken to create a unique product, service, or result.
Fig. illustrates relationships between Portfolios, Programs and Projects
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