Portfolios, Programs, and Projects: What's the Difference? How are portfolios, programs, and projects defined? Portfolio: A collection of independent or interdependent projects or programs grouped together for management and a specific business objective Program: A group of related projects managed in a coordinated fashion for efficiency sake Project: A finite task with a specific result What is the key focus of each? Portfolio: To categorize and rank the given project or program according to strategic goals in light of resource allocation Program: To achieve the benefits that its parent portfolio outlines Project: To create a specific product, result, or service in keeping with the strategic benefits of its parent program Overview/Description When key business terms are perceived as interchangeable, communication breakdown can occur, costing time and money. This Impact Series reviews the significant differences between portfolios, programs, and projects. ...
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