Shared Flashcard Set


PMBOK Comparative Overview
Project, Program, and Portfolio Management

Additional Business Flashcards





Scope:   Comparisons between these



Project         Program        Portfolio


Projects - Projects have defined objective. Scope is progressively elaborated throughout the project life cycle.


Programs - Programs have a larger scope and provide more significant benefits.


Portfolios - Portfolios have a business scope that changes with the strategic goals of the organization.


Change:   Comparisons between these



Projects       Programs     Portfolios


Projects - Project managers expect change and implement processes to keep change managed and controlled


Programs - The Program manager must expect change from both inside and outside the program and be prepared to manage it.


Portfolios - Portfolio managers continually monitor changes in the broad environment


Planning:   Comparisons between these



Projects          Programs       Portfolios


Projects - Project managers progressively elaborate high-level information into detailed plans throughout the project life cycle.


Programs - Program managers develop the overall program plan and create high-level plans to guide detailed planning at the component level


Portfolios - Portfolio managers create and maintain necessary processes and communication relative to the aggregate portfolio.


Management:  Comparisons between these



Project          Program        Portfolio


Projects - Project managers manage the project team to meet the project objectives.


Programs - Program managers mange the program staff and the project managers; they provide vision and overall leadership.


Portfolios - Portfolio managers may manage or coordinate portfolio management staff.


Success:  Comparisons between these



Projects         Programs      Portfolios


Projects - Success is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction.


Programs - Success is measured by the degree to which the program satisfies the needs and benefits for which it was undertaken.


Portfolios - Success is measured in terms of aggregate performance of portfolio components. 


Monitoring:  Comparisons between these



Projects      Programs     Portfolios


Projects - Project managers monitor and control the work of producing the products, services or results that the project was undertaken to produce.


Programs - Program managers monitor the progress of program components to ensure the overall goals, schedules, budgets, and benefits of the program will be met.


Portfolios - Portfolio managers monitor aggregate performance and value indicators.