An organization manages several projects and programs that are not directly related but are aligned with strategic objectives. This collection is managed together to achieve organizational goals. In project management, what is this collection known as?
A Program
A Portfolio
Operations
A Project
This collection is known as a portfolio in project management. A portfolio encompasses projects, programs, and operations that are grouped together to facilitate effective governance and meet strategic business objectives. The key characteristic of a portfolio is that the projects and programs may not be directly related but contribute to the organization's strategy. A program consists of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. A project is a temporary endeavor undertaken to create a unique product, service, or result. Operations are ongoing, repetitive activities that produce the same product or provide repetitive service.
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