This page project vs program describes difference between project and program terms. As we know project is an important part of the work any company will be doing, but it is important to know how that project fits into the business strategy of the company at broader level. Here is where program and portfolios come into place.
A project is any work that produces a specific result and it temporary. Projects always have a beginning and an end. Building a house is one of the example of the project. Projects can be part of programs or portfolios, but portfolios and programs can't be part of a project. Before we see definition of program let us understand portfolio first.
A portfolio is a group of projects or programs that are linked together by a business goal. If any company is producing products based on different domains they will divide them into different categories which is easy for them to maintain, manage and control. For example, wireless, analytics, training are the three portfolios run by a company.
A program is a group of projects that are closely linked, to the point where managing them together provides some benefit. For example, firm knows from past experience that creating huge skyscrapers is different than building residential homes, Hence both are taken as separate programs.
➨ Every program has many projects and many programs are under one portfolio.
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