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Difference between Project Management and Portfolio Management

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  • Last Updated : 16 Nov, 2020

1. Project Management :
Project Management, as name suggests, is a management skill that involves managing single project from starting to end and makes sure it gets completed successfully on given period of time.

2. Portfolio Management :
Portfolio Management, as name suggests, is a management skill that involves managing all projects within organization so that they can maximize earnings and increase return of investments.

Difference between Project Management and Portfolio Management :

Project ManagementPortfolio Management
It mainly focuses on management of particular project.It mainly focuses on all projects within organization.
It simply manages individual projects and makes sure that it gets completed on given period of time within budget also.It simply manages investments of individuals so that they can increase their earnings within given period of time.
This management generally focuses various tasks within particular project to achieve desired result or product.This management generally focuses on high-level view of any activity or task or project of any organization.
It is a temporary process but unique.It is a ongoing process that has to performed on daily basis.
It does not make a strategic plans and prioritize projects.It makes strategic plans, prioritize projects, selects important projects that will benefit organization.
It makes unnecessary use of resources for each project that are not even important.It decreases unnecessary use of resources by prioritizing project that are important.
This management direct a individual project successfully.This management is about selecting and implementing right projects for organization to fulfill long-term objectives.
Its main goal is to complete single project and provide service.Its main goal is to look at all projects and in turn improves return of investment as well as reduction of costs.
This management is basically used for small scale projects and more detailed one.This management is basically used for not only large scale projects but also for more diffused one.

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