Description
Write a 1,050- to 1,400-word summary in which you:
Explain how strategic portfolio management relates to project management.
Discuss how portfolio management concepts support an organization's mission and goals.
Analyze the difference between project-based and non-project-based organizations.
Address these areas:
- How does communication differ for a project manager in a project-based organization versus a non-project-based organization?
- Describe two challenges that a project manager might face in a non-project-based organization.
- As a project manager in a non-project-based organization, how would you overcome the challenges you identified?
Use at least five credible references.
Format your paper consistent with APA guidelines.

Explanation & Answer

Attached.
Running head: STRATEGIC PORTFOLIO AND PROJECT MANAGEMENT
Strategic Portfolio Management and Project Management
Student’s Name
Institutional Affiliation
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STRATEGIC PORTFOLIO AND PROJECT MANAGEMENT
Strategic Portfolio Management and Project Management
Introduction
In an organization different tasks are handled by different individuals, this includes
project management and portfolio management. These different areas are mostly managed by
different people even though they seem to relate. Project management and portfolio
management do have their similarities, and these similarities bring about different members
from the two areas so that an organization delivers. Project management can be stated as a
series of duties which are done to acquire specific end product within a particular time while
portfolio management is managing projects from a high-level idea in an organization.
Strategic portfolio management represents a framework in which an organization uses
different tools to identify programs and devices in which an organization should invest in
There are very many ways in which strategic portfolio management relates to the
project management. Initially, different aspects make strategic portfolio management relate to
project management; this is brought along by the roles that the project manager plays. The
similarity in elaborating the objectives and allocating different roles and responsibilities to the
staff and other managers is performed at the strategic portfolio management level and the
project management level (Kerzner, et al 2017). The portfolio has different levels/exhibits
which explain the different roles that the management performs; the displays show the
relationships between the strategies of the organization and the strategic portfolio
management. This is also seen in project management where the organization allocates tasks
to teams and team leaders. Also, different project managers are assigned groups that they
work with within a specific time. The goals of the project management and the strategic
portfolio management are the same as they are all for the benefit of the organization. The
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