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Tic Toe

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|Projects|Programs|Portfolio|
Definition|(ISO)
A project is a unique process consisting of a set of co-ordinated and controlled activities with start and finish dates, undertaken to achieve an objective conforming to specific requirements including the constraints of time, cost and resources.

(PMI)
A temporary endeavor undertaken to create a unique product, service or result.|(PMI) A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside of the scope of discrete projects in the program.|(PMI) A collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related.

|
Example|Integration of HR system with Oracle apps|IT Transformation program|NASA’s space program|
Scope|Have defined objectives and scope is progressively elaborated during the project life cycle.|Wider scope compared to projects and more focused on the benefits|The scope is driven by the strategic business objective that the portfolio is created to address.|
Success criteria|Success is measured by the product and project quality, timeliness, budget compliance, and degree of customer satisfaction.|Success is measured by the degree to which the program satisfies the needs and benefits for which it was undertaken.|Success is measured in terms of aggregate performance of portfolio components and on the long term value creation to investors and stakeholders.|
Schedule|Project schedule is the time taken create the deliverables expected out of the project|Program schedule is essentially the aggregation of the schedule of the program components|Portfolio does not have a schedule.

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