{"id":18712,"date":"2021-03-09T00:00:00","date_gmt":"2021-03-09T06:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/whats-difference-project-portfolio-management\/"},"modified":"2022-04-04T12:57:49","modified_gmt":"2022-04-04T17:57:49","slug":"whats-difference-project-portfolio-management","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/whats-difference-project-portfolio-management\/","title":{"rendered":"What\u2019s the Difference Between Project &amp; Portfolio Management?"},"content":{"rendered":"<p><!-- .post-meta --><\/p>\n<p><span style=\"font-weight: 400;\">If we take a closer look at successful enterprises and the way they operate, it becomes clear that their growth and establishment in the market is never a result of mere chance, rather it is the final outcome of various forces working together successfully. These invisible forces that operate in the background of each enterprise are the project managers and the portfolio managers, along with all employees and <\/span><a href=\"\/project-management-stakeholders\"><span style=\"font-weight: 400;\">other stakeholders<\/span><\/a><span style=\"font-weight: 400;\">. \u00a0<\/span><\/p>\n<p><img class=\"lazyload\" title=\"portfolio project management\" alt=\"portfolio project management\" height=\"400\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2018\/04\/goal-objective-1.jpg\" \/><\/p>\n<p><span style=\"font-weight: 400;\">While the terms \u2018employee\u2019 and \u2018stakeholder\u2019 are well established and their role is quite readily understood in today\u2019s business world, the difference between the duties of a project and a project portfolio manager within an organization are not always so clear and well-known. Although their function is quite connected, these two distinctive roles represent very different elements in the sphere of project management, driving very different operations. As <\/span><a href=\"https:\/\/www.apm.org.uk\/news\/portfolio-management-sig-agm-with-robert-buttrick-presenting-success-maturity-matrices-and-portfolios\/\"><span style=\"font-weight: 400;\">Bob Buttrick, project management honorary expert said<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><span style=\"font-weight: 400;\"> \u201cUnderstanding how portfolio management, maturity and matrix management combine to drive business success is key to making organizations truly customer, value and benefit focused, as opposed to just cost driven\u201d. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, before diving into the core differences between the two distinctive roles and contribution of a project manager and a project portfolio manager in an enterprise, we first need to define the job description and main aims of their position. <\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/whats-difference-project-portfolio-management\/#What_is_PM\" >What is PM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/whats-difference-project-portfolio-management\/#What_is_Project_Portfolio_Management\" >What is Project Portfolio Management?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_PM\"><\/span><b>What is PM? <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A project manager is responsible for running a project from its inception to its completion, within certain restrictions on time, budget and quality standards. A project manager\u2019s main aim is to coordinate all actions, efforts and processes of a project and ensure its progress towards a successful completion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A project manager\u2019s job includes <\/span><a href=\"http:\/\/www.clarizen.com\/teams\"><span style=\"font-weight: 400;\">collaboration with project teams<\/span><\/a><span style=\"font-weight: 400;\"> and stakeholders, task delegation and the project\u2019s development follow-up. They are responsible for defining a project\u2019s scope and objectives, assigning tasks, planning the sequence of procedures and ensuring the project\u2019s adherence to time, budget and quality requirements. \u00a0<\/span><\/p>\n<div id=\"content-cta\">\n<div id=\"content-cta-text\">Increase your business agility with Planview AdaptiveWork\u2019s project management software<\/div>\n<div id=\"content-cta-button\"><a href=\"https:\/\/www.clarizen.com\/resource\/product-tour\/?refer=blogpost\">Take a Product Tour<\/a><\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Project_Portfolio_Management\"><\/span><b>What is Project Portfolio Management?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><strong>Portfolio project management<\/strong> has a larger scope and aim than project management. While project management is about directing a single project successfully, <\/span><a href=\"https:\/\/www.clarizen.com\/work\/project-portfolio-management-definition\/\"><span style=\"font-weight: 400;\">project portfolio management<\/span><\/a><span style=\"font-weight: 400;\"> is about selecting and successfully executing the right projects for the organization. A project portfolio manager has a broadened view of all the organization\u2019s projects. Their duties include evaluating all project performances, investigating ways that these projects could be improved and examining each project\u2019s contribution to the company\u2019s overall objectives. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Project portfolio management<\/strong> is exercised when an organization brings together projects with a common goal, aiming to maximize their profit margin and increase overall return of investment. To better understand the question: \u201c<\/span><a href=\"\/ppm-software-can-help\"><span style=\"font-weight: 400;\">What is ppm<\/span><\/a><span style=\"font-weight: 400;\">?\u201d, it ought to be perceived as a process which is designed to bring accelerated growth, and execution improvement to an organization. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">To this end, <strong>project portfolio management<\/strong> is a form of centralized management, whose aim is to identify, prioritize and authorize the projects an organization is undertaking. This includes an appraisal process of ranking and evaluating the risks and benefits of each project. At a second stage, projects need to be frequently measured and, if necessary, to be coordinated individually. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the line between project management and project portfolio management is often quite blurred, there is a clear distinction between them. Even though both parties are highly concerned with the successful implementation of projects, a project manager is focused on the success of one single project while the <strong>project portfolio manager<\/strong> concentrates on the overall success of all implemented projects working towards the long-term objectives of the organization.<\/span><\/p>\n<div id=\"content-g2\">\n<div class=\"first-width\">\n<div id=\"content-g2-text\">Planview AdaptiveWork has been named a Leader in G2\u2019s Grid Report of Project &amp; Portfolio Management Software. We have won the award for numerous consecutive seasons.<\/div>\n<\/div>\n<div class=\"second-width\">\n<div id=\"content-g2-award\"><img class=\"lazyload\" height=\"150px\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2021\/02\/g2-leader-rating.png\" \/><\/div>\n<\/div>\n<div class=\"third-width\">\n<div id=\"content-g2-rating\">\n<div class=\"elfsight-app-4dddabda-f792-4293-a033-11066bf074b3\" style=\"height: 130px; width: 250px; overflow: hidden;\"><\/div>\n<p><a title=\"Read reviews of Planview AdaptiveWork One on G2\" href=\"https:\/\/www.g2.com\/products\/clarizen-one\/reviews?utm_source=review-widget\" target=\"_blank\" rel=\"noopener\"><img class=\"lazyload\" alt=\"Read Planview AdaptiveWork One reviews on G2\" data-src=\"https:\/\/www.g2.com\/products\/clarizen-one\/widgets\/stars?color=blue&amp;type=read\" \/><\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"client-logo\"><a title=\"Siemens Energy\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"Siemens Energy\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/08\/siemens_energy-200x100.png\" \/><\/a> <a title=\"IIROC Success\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"IIROC Success\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/07\/IIROC_logo-200x100.gif\" \/><\/a> <a title=\"Financial Services Institution\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"Financial Services Institution\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/04\/FINANCIAL-SERVICES-IMG-200x100.jpg\" \/><\/a> <a title=\"M Squared\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"M Squared\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/03\/m-squared-logo-200x100.jpg\" \/><\/a> <a title=\"Aliancys Success\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"Aliancys Success\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/12\/aoc_aliancys-logo-800x400-200x100.jpg\" \/><\/a> <a title=\"Bonfiglioli Success\" href=\"https:\/\/www.clarizen.com\/customers\/\"><img class=\"lazyload\" alt=\"Bonfiglioli Success\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/11\/bonfiglioli_logo-800x400-200x100.jpg\" \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>If we take a closer look at successful enterprises and the way they operate, it becomes clear that their growth and establishment in the market is never a result of mere chance, rather it is the final outcome of various forces working together successfully. These invisible forces that operate in the background of each enterprise&#8230;<\/p>\n","protected":false},"author":205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[35],"tags":[],"class_list":["post-18712","post","type-post","status-publish","format-standard","hentry","category-pmo-project-management-organizations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What\u2019s the Difference Between Project &amp; Portfolio Management?<\/title>\n<meta name=\"description\" content=\"Portfolio project management has a larger scope and aim than project management. 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