ABSTRACT
This chapter defines program management and portfolio management. Operations and maintenance are often thought of as ongoing processes. Projects are not ongoing efforts, but there are activities that occur during operations and maintenance that can be considered projects. Projects are managed to time, budget, and quality or performance, while operations are managed to compliance and continuous improvement. The project resources' assignments are temporary, whereas operations are a continuous, ongoing assignment. A program is a group of interrelated projects managed in a coordinated way, or a single large project broken down into individual subprojects. Projects are managed within a program when the outcomes are dependent on each other, and it is therefore prudent to manage them together. Program management is the coordinated management of a program to realize its strategic objectives. This is accomplished by integrating the cost, schedule, and effort of multiple projects.
