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What Is the Relationship Between Projects Programs and Portfolios?
Understand the relationship between projects, programs, and portfolios in project management. Learn how portfolios group programs and projects to align with high-level organizational strategies and business goals.
Question
How do projects, programs, and portfolios relate to each other?
A. A project manages multiple portfolios
B. A portfolio includes programs and projects aligned with organizational strategy
C. A program is a collection of unrelated portfolios
Answer
B. A portfolio includes programs and projects aligned with organizational strategy
Explanation
In project management architecture, these three elements form a strategic hierarchy. At the execution level, a project focuses on delivering a single unique output, service, or result within a set time and budget. A program is a coordinated group of related projects managed together to achieve broader strategic benefits that wouldn’t be possible if the projects were managed individually. At the highest level, a portfolio is a collection of projects, programs, and other work grouped together to facilitate effective management of that work to meet overarching strategic business objectives.