Portfolios cover all programs, projects, and subprograms that meet the organization's strategic objectives. Programs and projects do not need to be linked to being in a portfolio; the only requirement is to contribute to the overall strategic goals of the organization.
Portfolio management is centralized management of one or more portfolios that will help organizations achieve their overall strategic goals, with regard to all projects and programs.
Part of the management process is ensuring that all projects and programs have the right allocation of resources. If you need the details about project management courses then you can explore various online sources.
All programs and projects are harmonized and support the overall strategic objectives of the organization. Projects must be made to directly or indirectly help achieve the organization's strategic goals.
Many industries face a period of intense change and competition. It is important for organizations to recognize market needs and respond appropriately. Because of the importance of responding quickly, effectively and efficiently, projects often begin to address this problem or opportunity
A project can be started to develop new products or services to expand the organization, increase revenue, or solve problems faced by the company. Projects begin to help communities or groups of people solve problems that people might face.
Companies are now constantly looking for new ways to improve their operations to be more "environmentally friendly". Organizations are always looking for new ways to meet customer needs and desires, so projects can be arranged to meet specific customer needs.