Section 2 Project, Portfolio, Program

Question 1

What is a project?

Answer 1

-Temporary, has beginning and an end.
-Creates something unique (product, service, or result)

Question 2

Why do we initiate projects?

Answer 2

-Market Demand
-Request of a customer
-Business Need
-Environmental considerations
-Legal Requirement
-social need
-technological advance
(ALL PROVIDE BUSINESS VALUE)
*earning money is not a must.

Question 3

What is a program?

Answer 3

A group of related projects that should be grouped.

Question 4

What is a portfolio?

Answer 4

A group of programs, operations, and stand alone projects with the SAME STRATEGIC GOAL. Not related exactly but helps achieve same goal.