Portfolio management involves selecting and monitoring a set of investments that match the client's long-term financial goals and risk tolerance.
A portfolio in project management is a grouping of projects and programs. It may also include other project-related activities and responsibilities. The purpose of the portfolio is to establish centralized control and oversight of many projects and programs.
ensures that all visible costs are budgeted while project progress is updated and costs are recorded as part of the time tracking process. Enables separation of PPS application behavior and data between different teams across the enterprise. Enables individualized project management across the organization.
Tactical objectives are not used to benefit the organization, but to maximize the welfare of stakeholders. So project portfolio management deals with strategic goals and project management with tactical goals.
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