Project vs Program vs Portfolio
- Subject Code :
PMGT101
- University :
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- Country :
Australia
Example 2: Project vs Program vs Portfolio
Real Estate Company
A real estate company is in the business of constructing buildings and performing related work to fulfill the unmet public demand.
Portfolio Management The Company, itself, is the largest portfolio. Different divisions like Commercial Division and Residential Division would be sub-portfolios. Commercial Portfolio could include construction of malls, shopping complexes, and office buildings while Residential Portfolio could include construction of residential buildings, and row houses. Each sub-portfolio would be headed by a Division Head like a Vice President. The portfolio and sub-portfolios will have running programs, projects and operations.
Program Management Each division within the company would have several running programs e.g. a Residential Township at location X. This program could involve several projects e.g. construction of row houses, construction of a multi-storied residential building, construction of a club house, landscaping project, marketing project etc. The projects within the program might be executed at different times by a different set of people but they will be governed by the larger shared goal of making the township successful & livable.
Project Management The Company would have several running projects at any given point in time. These project may or may not be part of a program e.g a procurement optimization project to reduce material procurement costs may not be part of any program.