||A project is a temporary endeavour undertaken to create a unique product, service or result.
||A program is a group of related projects, subsidary programs and program activites that are managed in a conordinated manner to obtain benefits not available from managing them individually.
||A portfoilio is a collection of projects, programs and subsiduary portfolios and operations managed as a group to achieve strategic objectives.
||Projects have defined objectives. Scope is progressively elaborated throughout the project life cycle.
||Programs have a scope that encompasses the the scope of it's program compontents. Programs produce benefits to an organization by ensuring that the outputs and outcomes of program compontents are delivered in a coordinated and complementary manner.
||Portfolios have an organizational scope that changes with the strategic objectives of the organization.
||Project managers expect change and implement processes to keep change nmanaged and controlled.
||Programs are managed in a manner plans that accepts and adapts to change as necessary to optimize the delivery of the benefits as the program's compentent deliver outcomes and/or outputs.
||Protfolio managers continuously monitor changes in the broader internal and external enviroments.
||Project managers progressively elaborate high-level information into detailed plans throughout the project life cycle.
||Programs are managed using high-level plans that track the interdependencies and progress of propgram compentents. Program plans are also used to guide planning at the compentent level.
||Protfolio managers create and maintain necessary processes and communication relative to the aggregate portfolio.
||Project managers mange the project team to meet the project objectives.
||Programs are managed by program managers who ensure that program benefits are delivered as expected, by coordinating the activities of a program's compontents.
||Portfolio managers may manage or coordinated portfolio management staff, or program and project staff that may have reporting responsibilites into the aggregate portfolio.
||Project managers monitor and control the work producing the products, services, or results that the project was undertaken ot produce.
||Programs are managers monitor the progress of program components to ensure the overall goals, schedules, budget, and benefits of the program wil be met.
||Portfolio managers monitor strategic changes and aggreste resource allocations results, and risk of the portfolio.
||Sucess is measured by product and project quality, timeliness, budget complianc, and degree of customer satisfaction.
||A program's success is measured by the program's ability to deliver it's intended benefits to an organization, and by the program's efficiency and effectiveness in the delivery those benefits.
||Success is measured in terms of the aggreate investment performance and benfit realization of the portfolio.