a TEMPORARY endeavor undertaken to create a UNIQUE product, service, or result
project
a group of related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually
program
a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives
portfolio
the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements
project management
the CENTRALIZED management of one or more portfolios to achieve strategic objectives
portfolio management
the benefit derived from projects for a business venture (AKA the sum of tangible + intangible elements)
business value
(5) benefits of project management
- meet business objectives and goals
- address stakeholder needs and expectations
- resolve issues sooner
- be more successful
- become more adaptive
(6) tangible elements (benefits)
- monetary assets
- fixtures
- stockholder equity
- utilities
- buildings
- equipment
(6) intangible elements (benefits)
- goodwill
- reputation
- brand recognition
- public benefit
- trademarks
- strategic alignment
