A project combines human and non-human resources within an organization to achieve a specific goal, stemming from the Latin word "projectum" meaning before an action. A program is a group of related projects designed to accomplish a common goal within a set timeframe, with each project overseen by a project manager. A portfolio refers to a collection of projects and programs grouped together to pursue strategic business objectives across a wide spectrum of areas for large, diversified companies.
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Project, Program and Portfolio
2. PROJECT
? The word project comes from the Latin
word projectum which means "before an
action".
? It is a combination of human and non-human
resources which works together in a
organization to achieve a specific goal.
3. PROGRAM
? A Program is a group of projects designed to
accomplish a common goal in a given time.
? Each project within a program has a Project
manager for proper coordination.
4. PORTFOLIO
? The term portfolio is applied to a collection of
projects and programs that are grouped
together for pursuing objectives focused on
some specific business strategy.
? The portfolio of diversified large companies
may include projects and programs in the
wide spectrum.
