PMP in 21 Days | Based on PMBOK 6

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...

The changes in processes could be categorized as follows: Planning Process Additions: The Planning processes for few of the knowledge areas were clubbed. Now to bring uniformity new planning processes are introduced. These are:         5.1 Plan Scope Management         6.1 Plan Schedule Management         7.1 Plan Cost Management Modification of Process Name for Process Consistency: The process names are changed to bring uniformity across the naming conventions. These are:         4.3 Direct & Manage Project Work (Execution)         5.5 Validate   ( Verify ) Scope          8.1 Plan Quality Management         8.3 Control Quality (Perform Quality Control)         11.6 (Monitor &) Control Risks         12.1 Plan Procurement Management   ...