Project, Program and Portfolio Fundamentals

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Project, Program & Portfolio Fundamentals: 


Program Fundamentals: 

A project is problem for which a solution is sought by working systematically. It includes defining the task to be achieved, planning how to achieve, undertaking and monitoring the plan. A project is an endeavor possessing the following characteristics:

  • A project is a short-term endeavor
  • A project is structured around a schedule with a fixed start and end date
  • A project is executed to achieve a specific goal which can entail:

– Producing a product or service that fulfills a need or a process that achieves something specific

  • A project ends when all objectives are met or when the process is terminated

Program Fundamentals: 

A program is a series of interconnected projects. They contain the same elements or are similar in content and assembled into a program. A program includes projects designed to achieve a shared objective; projects that rely on the sharing resources; or projects that are interdependent. Organizing multiple projects into a single program assists in simplifying processes of an organization by sustaining efficiency. The life cycle of a program exceeds that of a single project and is ongoing until shared objectives among projects are met.

Portfolio Fundamentals:

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