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PMBOK Comparative Overview
Project, Program, and Portfolio Management
6
Business
09/05/2009

Additional Business Flashcards

 


 

Cards

Term

Scope:   Comparisons between these

 

 

Project         Program        Portfolio

Definition

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.

Term

Change:   Comparisons between these

 

 

Projects       Programs     Portfolios

Definition

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

Term

Planning:   Comparisons between these

 

 

Projects          Programs       Portfolios

Definition

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.

Term

Management:  Comparisons between these

 

 

Project          Program        Portfolio

Definition

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.

Term

Success:  Comparisons between these

 

 

Projects         Programs      Portfolios

Definition

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. 

Term

Monitoring:  Comparisons between these

 

 

Projects      Programs     Portfolios

Definition

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.