Difference Between Projects, Programs and Portfolios
A project is managed with a clear end date in mind, and according to a set scope and budget. It has a single easily definable tangible output. E.g. a list of deliverables, a new system or an improved process.
A program is a collection of two or more projects sharing a common goal.Program managers control dependencies and allocate resources across projects.
A portfolio is a group of related initiatives, projects and/or programs that attain wide reaching benefits and impact.
Read more about this topic: IT Portfolio Management
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