Difference between a program and a portfolio

sreedharkaliset
Mega Expert

‎10-18-2016 06:55 AM

Hi,

Can anyone please explain the difference between a program and a portfolio.

wiki says

Program is a collection of related projects and demands

Portfolio is a collection of related programs, projects and demands.

Please let me know the need of program and portfolio management individually if program can also be part of a portfolio.

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bernyalvarado
Mega Sage

‎08-10-2017 10:38 AM

Hi Sreedhar,



Indeed a program can be part of portfolio. In fact, multiple programs normally compose a portfolio. Portfolios are often managed tied to Strategic Objectives and their management is focused at the strategic level to address the risks, issues or roadblocks to accomplish the strategic objectives. The program level on the other hand is more focus on the tactical level of managing the projects underneath it towards meeting the Success Indicators & Business goals outlined for the program.



A very good visual representation of how ServiceNow see the different between Program and Portfolio management can be found in the illustration in the following doc: https://docs.servicenow.com/bundle/istanbul-it-business-management/page/product/program-management/c...



I hope this helps!



Thanks,


Berny