Project management is hot topic around the world where one is understanding project’s importance in business, every product and service has its own deliverables and it must be planned professionally. Being said not all projects are individual but some and most of organizational plans are large and so it must break down at different levels for successful deliverables, where we can discuss on portfolio, program and project management for successful delivery of organizations strategic benefits. Defining each term, `PROJECT` states the approach taken to execute and bring outcome of a unique product, service and or result (PMI 2017, p119), and to keep it simple we are surrounded and bounded by projects starting from grocery shopping to space research industries and in this website we my look in to its professional application known as project management which is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements (PMI 2017, p119). Lets start from top body, where PORTFOLIO is located to manage projects, programs, subsidiary portfolios, and operations as a group to achieve strategic objectives (PMI 2017, p118). This nothing but a people or person who align organizations strategy to deliverables as program and projects to meet organizational objectives. This is carried out through centralized management of one or more portfolios to achieve strategic objectives known as PORTFOLIO MANAGEMENT (PMI 2017, p118). Now we got idea of portfolio and project and its managing areas, now we shall see how program influence on organization. PROGRAM manages projects and sub-programs by coordinating them in a manner to obtain such benefits that are not available from managing them individually (PMI 2017 p116, 117). Taking example is mission to moon travel is a program not project due to its size, where it consists on numerous projects and sub-programs which are managed by program under management called PROGRAM MANAGEMENT which is the centralised management of one or more portfolios to achieve strategic objectives (PMI 2017, p118), and we have to understand purpose of program to exist on earth is to deliver the benefits, which we shall discuss in detail in other post. ##  Understand life of each area Work in Portfolio is ongoing as long as organization exists whose purpose is to ensure all business strategic and benefits are met. The below diagram is shared from Williams & Parr (2004); ![[Basic understanding of human resource management practices and leadership.png]] Let’s not get too deep at this stage and keeping it simple, It’s the clear BUSINESS STRATEGY that binds STRATERGIC PORTFOLIO MANAGEMENT through STRATEGIC INITIATIVES and portfolio will give legal direction to PROGRAM DELIVERY MANAGEMENT who looks after BENEFIT RELIZATION which is nothing but focusing on qualitative and quantitative impact analysis of project and sub-programs OUTCOMES. Where PROJECT MANAGEMENT is only focused on DELIVERABLES (outputs) within project environment. Williams & Parr (2004) states PROGRAM ARCHITECTURE as leadership funnel addressing its structure and team management through behaviour and support mechanism to meet program and project end results. Where CHANGE ARCHITECTURE refers to Organisational Change Management which focuses on human resource (individual or group) who will be wedged to meet the delivery needs. **_Finishing with their individual characteristics_** (Portfolio and Program Management - Study at UniSA, 2020) **SCOPE** for Project is narrow and clearly defined. Where Program is wide and focused upon capabilities to generate medium-term business benefits. And Portfolio is organisation-wide focused upon strategic outcomes. Project **SUCCESS** is through on-time, on budget, to specification. Program is realisation of expected business benefits (Value creation). And Portfolio is through overall portfolio performance and contribution to achievement of strategy. **APPROACH TO CHANGE** at Project is strictly controlled and manage to baseline. Where Program embrace change, view as an opportunity and review against business case and constant learning and refinement. Portfolio will monitor changes that impact strategy and structure portfolio to optimize benefits against investments and risks. **TIME-SCALE** for Project is as required to generate deliverables-typically months. Program is as required to create capabilities and transition activities – typically several years. And Portfolio is on-going, “business as usual” activity, may be no anticipated end-date. **PLANNING** at Project is detailed, at product level. At Program is high-level, providing guidance and oversight of constituent projects. At Portfolio is overall processes to establish contributions and costs at portfolio level **CONTROLS** at Project is through monitor and control to ensure on-time, on-budget, to-specification delivery, and report to project sponsor. Program will monitor and appraise project deliverables and resource usage against expected benefits and report to business stakeholders through formal governance structures. And Portfolio measure aggregate performance and value of the portfolio, in terms of realized benefits and corporate performance indicators. **LEADERSHIP** at Project is transactional, authority-based, directive, rational decision-making. At Program level is facilitating, focus on powerful stakeholders, intuitive decision-making. And Portfolio is administrative, focused on adding value and resource allocation, rational decision-making. As we discussed basics in post “Basic Understanding of Portfolio and Program Management in relation to Project Management” and recapping PORTFOLIO is Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives (The Standard for Portfolio Management, PMI 2017, p116). And let us identify its eight fundamental principles from Portfolio Management (PMI 2017, p7) 1. Strive to achieve excellence in strategic execution 2. Enhance transparency, responsibility, accountability, sustainability, and fairness 3. Balance portfolio value against overall risks 4. Ensure that investments in portfolio components are aligned with the organisation's strategy 5. Obtain and maintain the sponsorship and engagement of senior management and key stakeholders 6. Exercise active and decisive leadership for the optimisation of resources ce utilisation 7. Foster a culture that embraces change and risk: and 8. Navigate complexity to enable successful outcomes. ## References _Courses - Portfolio and Program Management - Study at UniSA. 2020. Courses - Portfolio and Program Management - Study at UniSA. [ONLINE] Available at: _Project Management Institute 2017b, The Standard for Program Management, 4th edn, Project Management Institute Inc., Newtown Square, Pa._ _Williams D & Parr, T 2004, Enterprise Programme Management, Palgrave Macmillan, Basingstoke._