PMP - Project Management Professional What is Project Management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project management is accomplished through the appropriate application and integration of the 42 logically grouped project management processes comprising the 5 Process Groups. These 5 Process Groups are: • Initiating, • Planning, • Executing, • Monitoring and Controlling, and • Closing.   Program Management A program is defined as a group of related projects managed in a coordinated way to obtain benefi ts and control not available from managing them individually. Programs may include elements of related work outside the scope of the discrete projects in the program. A project may or may not be part of a program but a program will always have projects. Portfolio Management A portfolio refers to a collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related.