This analysis was inspired by Darren Radford, coauthor of Going Beyond The Waterfall, published by J. Ross Publishing © 2014, in Table 1.1 on p6, titled: "Differences between project, program and portfolio management".
Published here December 2014

Introduction | Project Management Generally
Body of Knowledge Domains – Core Project Management Functions | Facilitating Functions
Project Implementation | Conclusions

Body of Knowledge Domains – Core Project Management Functions

Domain

Level

Comparative Responsibilities

Scope

Project

Project scope boundaries clearly limited; deliverables clearly defined, or set within rolling wave planning.

Program

Broad scope with flexible boundaries; multiple deliverables; alignment with strategic goals. Custodian of metrics, benchmarking and lessons learned.

Portfolio

Evolving scope consistent with corporate vision and strategies. Creation of one or more project portfolios accordingly, optimized for effectiveness and efficiency. Maintain vigilance for internal and external changes and risks and obtain executive approval for necessary redirection.


Quality

Project

Grade clearly specified; testing to ensure compliance.

Program

Establish required quality grade across a program; testing criteria and frequency. Custodian of recommended practices.

Portfolio

Provide overview of overall quality approach; requirements and standards for each portfolio.


Time

Project

Clear and controlled life span to meet project objectives.

Program

Planning of project activation to establish required sequencing of deliverables to satisfy program goals.

Portfolio

Interpreting corporate strategies into portfolios. Obtaining corporate approvals for activation of major portfolios, programs and projects. Prioritizing, aligning and sequencing the required portfolio program-level components for maximum effect and resource efficiency.


Cost

Project

Analyzing and costing work for purposes of estimating for project budget. Capturing project costs, and comparing to approved budget; estimating costs to complete; reporting forecasts over or under project budget.

Program

Assembling actual and forecast program costs-at-completion; planning and deploying projects within programs to best advantage of corporate resources and cost.

Portfolio

Broad costing of proposed corporate strategy initiatives to assess relevance, expected benefits, hence ROI, and unexpected consequences; advising on most cost effective compositions; recommending alternatives.
 

xxx  Project Management Generally

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