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1.4
Portfolios, Programmes and Projects - Coggle Diagram
1.4
Portfolios, Programmes and Projects
Programme
A program is defined as a group of related projects, subprograms, and program activities managed in a
coordinated way to obtain benefits not available from managing them individually. (PMBOK 5th, 2013, P. 9)
e.g. The required group of projects to deliver the Olympic games, comprising of a group of different related projects such as stadium, facilities, railway etc..
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Also:
An integrated, structured-framework that coordinates, aligns and allocates resources, and plans, executes and manages a number of related projects to achieve optimum benefits that cannot be realized if the projects are managed separately.
(Shehu & Akintoye, 2009)
Portfolio
A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives. The projects or programmes of the portfolio may not necessarily be interdependent or directly related. (PMBOK 5th, 2013, P. 9)
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companies might choose to organise their projects into portfolios to maximise their internal and external resources.
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Project
"a temporary endeavour undertaken to create a unique product, service or result." (PMBOK 5th, 2013)
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Challenges of programme management in the construction industry (Shehu & Akintoye, 2010)
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