Projects, Programs and portfolios

Projects are not independent events within an organization. The projects that an organization undertakes, should be oriented toward a strategy. As such, they should be prioritized, so that the most important projects, are given the opportunity to succeed. Managing projects, programs, and portfolios in a coordinated approach allow the organization to increase the value delivered by its initiatives. A program is a set of related projects and operations, that when managed in a coordinated way, address a common business objective. A portfolio is a group of projects or programs, coordinated to implement the business strategy.