Projects, Programs and Portfolios

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What is portfolio management?

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Portfolio management is led by the business and includes business goal alignment, program selection, and portfolio optimization. It provides business value.

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What is program management?

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Program management is sponsored by the business and includes ownership of benefits, encompasses multiple projects, and ensures alignment of protocols and compliance with project management standards. It provides stakeholder value.

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What is project management responsible for?

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Project management is responsible for the quality of deliverables, including the delivery of product/service, scope, cost, and schedule.

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How does a company use its portfolio?

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A company engages its portfolio to improve operations by supporting long-term company goals or objectives.

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What is a program in the context of project management?

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A program is a group of related projects that support a company's goals. It may include a group of related projects, such as developing a new full-size passenger car.

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What is a project in the context of project management?

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A project is an activity or group of activities that generate a new, unique product, service, or result to support a program. Not all projects are part of a larger program.

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How are projects and programs organized?

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Projects and programs are organized by a project management office, where resources and work are organized into logical, bite-size pieces.

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What is the relationship between portfolios, programs, and projects?

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A portfolio is a group of related programs supporting long-term goals. A program is a group of related projects. A project generates a new product, service, or result.