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The most crucial distinction between project administration and project portfolio management is that the latter focuses on prioritizing projects based upon the small business aims and strategic ambitions of a company.

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Accessibility Gantt charts, dashboards, timesheets plus much more with a cost-free demo of ProjectManager. Find out more Project management is carefully relevant to other disciplines which include program management and portfolio management. However, though they’re very similar, they’re not the exact same. Below’s how they differ.

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The project management system includes five actions or phases that every one projects need to go through: initiation, planning, execution, monitoring and control and closure.

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