Project, Program and Portfolio

According to PMBOK Guide, by PMI, Portfolio Management aligns with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the needed resources.
Portfolio management provides a big picture of the organization projects and programs and support the managers to analyses and make the right decisions.

A program is a group of related projects and program activities managed to contribute to the same business objective or benefit. The program as a whole has a clear, defined goal, and each project within the program assists in meeting those goals.

The Project Management Institute (PMI) defines Project, as a temporary endeavor undertaken to create a unique product, service, or result. An organization has many projects ongoing at some time, with different individual needs and goals.