March 2, 2021
- A Portfolio is the totality of an Organisation’s investment required to achieve its strategic objectives. An Organisation can have one or multiple Portfolio’s depending on its business model.
- A Program is a temporary organisation structure created to coordinate, direct and oversee the implementation of a number of related Projects. Program’s deliver outcomes and benefits related to and aligned with an Organisation’s strategic objectives.
- A Project is created for the purpose of delivering one or more business outputs according to a specified business case. Projects can be stand alone or form part of Program.
- Operated effectively, the layered approach:
- Provides leadership will a single line of sight from strategy to output.
- Allows an organisation to clearly set out, monitor and evidence how it will achieve its stated strategic aims.
- Provides quantifiable data for performance reporting and progress
- Enables effective risk management across all levels