A project is managed with a clear end date in mind, and according to a set scope and budget. It has a single easily definable tangible output. E.g. a list of deliverables, a new system or an improved process. The Management of Portfolios (MoP) standard of AXELOS defines a project as "... a temporary organization, usually existing for a much shorter time than a programme, which will deliver one or more outputs in accordance with a specific business case. A particular project may or may not be part of a programme."
A program is a collection of two or more projects sharing a common goal. Program managers control dependencies and allocate resources across projects. The MoP and Management of Successful Programmes (MSP) standards define a programme as "... a temporary, flexible organization created to coordinate, direct and oversee the implementation of a set of related projects and activities in order to deliver outcomes and benefits related to the organizations's strategic objectives. A programme is likely to have a life that spans several years."
A portfolio is a group of related initiatives, projects and/or programs that attain wide reaching benefits and impact. MoP definition: "An organization's portfolio is the totality of its investment (or segment therof) in the changes required to achieve its strategic objectives. ...focus is on the change initiatives that are delivered via formalized project and programme management methodologies."Libellés : management, portfolio, Service-level
