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1 - INTRODUCTION

1.4 relationships Among Portfolio Management, Program Management,
Project Management, and organizational Project Management 1

In order to understand portfolio, program, and project management, it is important to recognize the similarities
and differences among these disciplines. It is also helpful to understand how they relate to organizational project
management (OPM). OPM is a strategy execution framework utilizing project, program, and portfolio management
as well as organizational enabling practices to consistently and predictably deliver organizational strategy producing
better performance, better results, and a sustainable competitive advantage.

Portfolio, program, and project management are aligned with or driven by organizational strategies. Conversely,
portfolio, program, and project management differ in the way each contributes to the achievement of strategic goals.
Portfolio management aligns with organizational strategies by selecting the right programs or projects, prioritizing
the work, and providing the needed resources, whereas program management harmonizes its projects and program
components and controls interdependencies in order to realize specified benefits. Project management develops
and implements plans to achieve a specific scope that is driven by the objectives of the program or portfolio it is
subjected to and, ultimately, to organizational strategies. OPM advances organizational capability by linking project,
program, and portfolio management principles and practices with organizational enablers (e.g. structural, cultural,
technological, and human resource practices) to support strategic goals. An organization measures its capabilities,
then plans and implements improvements towards the systematic achievement of best practices.

Table 1-1 shows the comparison of project, program, and portfolio views across several dimensions within
the organization.

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