Image courtesy: What binds these 3Ps at the organizational level? The relationship between Project, Program, and Portfolio is beautifully illustrated by an example by Alvin Soltis on his blog – Two points to remember the differences between the 3Ps (Project, Program, Portfolio): Project These programs or projects may or may not be related.Īn example of portfolio would be – a clothing firm has a portfolio that serves strategic goals of improving the effectiveness of IT, introducing new brand of teen-clothing, reducing inventory costs, and increasing user satisfaction.įigure 2: A portfolio will address strategic goals of the organization What is a Portfolio?Ī portfolio is a collection of projects or programs managed together in order to gain a business benefit. When these projects are successfully completed you have the township built. However, this may not part of any of the individual projects such as the luxury apartment project, low-cost single-family home project or commercial office project. For instance, this program to build township will also include the work of laying roads. When you manage this program, there would be certain work that is not part of scope of individual projects. This township consists of luxury apartment project, low cost single-family house project, and a commercial purpose office building project.įigure 1: A program may have one or more projectsĪ Project may or may not have an associated Program, but a Program will always have Project(s) associated with it.
XYZ Construction Company run a program for building a township. There may be a question around this in the exam. If the objective of a Program is only getting a shared benefit (like shared technology, client or resources), PMBOK® suggests that it should be done together as a Portfolio and not as a Program.
Projects in a program serve the purpose of common outcome.Įxam pointer: Get this subtle difference. If these projects are to be executed separately, their value to the organization would be lesser than what you get by doing them together under a program. Program is a collection of related projects that are dependent on each other and serve a common outcome. Project is a temporary endeavor undertaken with a specific start and end date, with an expected outcome of a Product, Service or Result. Let us recall the definition of a Project– Simply put, a project helps an organization achieve a goal. To reveal more content, you have to complete all the activities and exercises above.What does a project do for the organization? They started from sea level at the beach, measured thousands of kilometers of distance, built surveying towers across the entire country and even accounted for the curvature of Earth. This explanation greatly simplifies the extraordinary work done by the mathematicians and geographers working on the Great Trigonometrical Survey. We can find it using the definition of sin: sin 23°Īnd that is very close to the actual height of Mount Everest, the highest mountain on Earth: 8,848m.
We already know the length of the hypotenuse, but what we really need is the opposite adjacent side. There is one final step: let’s have a look at the big, right-angled triangle. This is enough to use the sine rule cosine rule to find the distance d: sin 151° d 5 Now we know all three angles of the triangle, as well as one of the sides. Now we can use the sum of the internal angles of a triangle to work out that angle β is °. The results were 23° and 29°.īecause angle α is a supplementary angle, we know that it must be °. The surveyors in India measured the angle of the top of a mountain from two different positions, 5km apart.