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.