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Relationship between Project, Program and Portfolio

Project, Program and Portfolio - What is the difference? There have been few discussions in my recent workshops as what is the difference between project, program and portfolio. Lets start from the term which is most clear to all: Project: A project is a temporary endeavor undertaken to create a unique product, service, or result A project could be: Creating a website,   Creating a building,  Organising a rally/party Program:  A group of related projects, subprograms, and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually. Programs may include operations and support activities.. The program could be : Rolling out 3G  network across india. Creating and Implementing a new policy organisation wide  Election campaign for presidential elections across country Portfolio A portfolio is a component c...