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1 - INTRODUCTION

Examples of projects include, but are not limited to:

• Developing a new product, service, or result;
• Effecting a change in the structure, processes, staffing, or style of an organization;
• Developing or acquiring a new or modified information system (hardware or software);

• Conducting a research effort whose outcome will be aptly recorded;
• Constructing a building, industrial plant, or infrastructure; or

• Implementing, improving, or enhancing existing business processes and procedures.

1.2.1. the relationships Among Portfolios, Programs, and Projects

The relationship among portfolios, programs, and projects is such that a portfolio refers to a collection of projects,
programs, subportfolios, and operations managed as a group to achieve strategic objectives. Programs are grouped
within a portfolio and are comprised of subprograms, projects, or other work that are managed in a coordinated
fashion in support of the portfolio. Individual projects that are either within or outside of a program are still considered
part of a portfolio. Although the projects or programs within the portfolio may not necessarily be interdependent or
directly related, they are linked to the organization’s strategic plan by means of the organization’s portfolio.

As Figure 1-1 illustrates, organizational strategies and priorities are linked and have relationships between
portfolios and programs, and between programs and individual projects. Organizational planning impacts
the projects by means of project prioritization based on risk, funding, and other considerations relevant to the
organization’s strategic plan. Organizational planning can direct the management of resources, and support for the
component projects on the basis of risk categories, specific lines of business, or general types of projects, such as
infrastructure and process improvement.

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