RELATIONSHIP AMONG PORTFOLIO MANAGEMENT, PROGRAM MANAGEMENT, PROJECT MANAGEMENT AND ORGANIZATIONAL PROJECT MANAGEMENT

To understand this concept, please refer to the definitions of Project, Program and Portfolio (PPP) earlier. 
Adding a word “management” to each PPP will result to the following definitions.

PROJECT MANAGEMENT is the application of knowledge, skills, tools and techniques to the activities to meet the project requirements.

PROGRAM MANAGEMENT is the application of knowledge, skills, tools and techniques to a program to meet the program requirements.

PORTFOLIO MANAGEMENT is the application of knowledge, skills, tools and techniques to project activities to meet the portfolio requirements.

Their relationship in terms of management creates something so called ORGANIZATIONAL PROJECT MANAGEMENT (OPM) which is simply a strategy execution framework that utilize project, program and portfolio management and operations management in order to produce a better performance, better results and a sustainable competitive advantage.

Below is the comparison overview of Project Management, Program Management and Portfolio Management



Reference:
PMI (2013). A Guide to the Project Management Book of Knowledge (PMBOK Guide 5^th Ed.) USA, Project Management Institute

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