PMP Review Notes (Chapter 1) – Programs v. Portfolios

March 11, 2010 · Posted in Information Systems 

Programs -  Groups of related projects that are managed using the same techniques in a coordinated fashion

Program Management

-          Management of interrelated projects – determining their interdependencies,, managing among their constraints, and resolving issues among them

-          Involves centrally managing and coordinating groups of related projects to meet the objectives of the program

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Portfolios – Collections of programs and projects that support a specific business goal or objective

Portfolio Management

-          Encompasses managing the collections of programs, projects, other work and sometimes other portfolio

-          Includes weighing the value of each project, or potential project against the business’ strategic objectives

-          Concerns monitoring active projects for adherence to objectives, balancing the portfolio among the other investments of the organization, assuring the efficient use of resources

-          Generally performed by a senior manager who has significant experience in both project and program management

-          Exam Spotlight: Programs are collections of related projects. Portfolios consist of programs, projects and other portfolios that meet a business objective. Projects or programs within a portfolio are not necessarily related to or dependent on each other

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