Project Management vs. Program Management vs. Portfolio Management

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It is sometimes difficult for people to distinguish between project management, program management, and portfolio management and mistakenly use them interchangeably. So, what are the differences between these three domains, and are they somehow interrelated?
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Hi Punyapalit,

An interesting article written by John Reiling looks at the differences between Portfolio Management, Programme Management, and Project Management.
A great way to start to think about these is to think in terms of a pyramid hierarchy. At the top of the pyramid is portfolio management, which contains all of the projects and programmes that are prioritised by business objectives. Below that is programme management, which contains numerous projects that are interrelated since they support a particular business objective. Programmes consist of multiple projects, but projects can be independent and simply part of the portfolio. Projects differ from programmes in that they are strictly tactical in nature.
Read the whole article here: Distinguishing Portfolio Management, Programme Management and Project Management

I hope this helps.

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A project is a temporary endeavor to complete a product/service within a given timeframe. A program is a collection of similar/interrelated projects managed in a coordinated fashion. On the other hand, a portfolio is a group of programs/projects that may not be related but managed within an organization.

Moving from a project to a program and portfolio widens the scope, and the alignment with the company's strategic goals becomes increasingly crucial. To learn more, I recommend this insightful blog that precisely enumerates each domain's elements and elaborates on how they are different yet complementary.
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