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1. What is the relationship between projects, programs, and portfolios?
Portfolios are made up of programs and projects that are aligned around a strategic objective and programs consist of a set of projects that are inter-related and managed in a coordinated manner.
All three names are synonyms for one another. You can use whichever name you like.
Portfolios are mega-projects managed by vice presidents, programs are large projects managed by directors, and projects are temporary endeavors undertaken to create a unique product or service.
2. How are operations departments and project activities linked?
Operations are often project stakeholders since the projects create or improve operations processes or systems and operations often provide some of the project resources.
Projects are conducted within and for operations. Project management activities are the same as operational management activities.
Projects and operations are not linked. They are managed independently.
3. What links projects and programs within a portfolio?
Projects and programs that are using the same project management software application are a portfolio.
A strategic imperative.
They are linked by a common resource pool.
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