From the course: PMI Certified Associate in Project Management (CAPM)® Cert Prep

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Understanding projects, programs, and portfolios

Understanding projects, programs, and portfolios

From the course: PMI Certified Associate in Project Management (CAPM)® Cert Prep

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Understanding projects, programs, and portfolios

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- This lesson is about the relation between projects, programs, and portfolios. So let's set the stage a little bit. Portfolios is key. It introduces the idea of where the value of the project comes from. Most projects get their value and their reason for existence from being part of a portfolio. So portfolios represent the continuing emphasis on business value. And as we've discussed already, the idea of going from governing projects to focusing on the value. And that introduces the important ideas of business capabilities and objectives. So remember, a project has basically two sets of customers. There's the organizational customer and then the external stakeholders who benefit from the project. So portfolios are going to end up defining a lot of that. So the impact of the portfolio on projects is to change the focus of projects from producing deliverables to driving outcomes that deliver value, as I said, for…

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