So far, we have discussed Projects, Operations, Programs and Portfolios individually and here, we are going to discuss about basic differences between these. Here we shall discuss on the basis of different basic parameters -
SCOPE :-
Project : Well Defined Scope.
Program : More attuned towards benefits.
Portfolio : Frequently changes with change in Strategy.
Planning :-
Project : 'Rolling Wave' planning
Program : Plan for a Program, which guides Project planning
Portfolio : Top level plan which of-course is main benchmark for all plans.
Management:-
Project : Project Manager, who mainly concentrate on one Project at any point of time
Program : Takes care of multiple Projects of similar types
Portfolio : Takes care of overall Portfolio of various projects/programs
Change Control:-
Project : Keep changes minimum
Program : Open to changes
Portfolio : Market driven changes are always welcome
Delivery Style :-
Project : Task oriented
Program : Benefit Realization
Portfolio : Value Oriented
Monitoring :-
Project : Project Objective related
Program : benefit related
Portfolio : Value indicator or overall performance
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