An organization is overseeing several initiatives: constructing a new corporate headquarters, launching an advertising campaign, and upgrading its IT infrastructure. These initiatives are diverse and not directly related, but they are managed together to align with the company's strategic objectives and to balance resource allocation. How should this collection of initiatives be categorized?
The collection should be categorized as a portfolio. A portfolio comprises projects, programs, and operations managed as a group to achieve strategic objectives. The initiatives within a portfolio are not necessarily related but are grouped together for effective governance and resource management. A program, in contrast, is a group of related projects managed in a coordinated way to obtain benefits not available from managing them individually. Since the initiatives in this scenario are diverse and not directly related, they form a portfolio rather than a program.
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CAPM
Project Management Fundamentals and Core Concepts
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