Final answer:
Portfolios are comprised of programs, which are comprised of projects.
Step-by-step explanation:
The correct statement is option 3) Portfolios are comprised of programs, which are comprised of projects.
In the field of project management, portfolios, programs, and projects are related and are used to organize and manage work.
A portfolio is a collection of projects, programs, or other work that is grouped together to achieve specific strategic goals.
A program is a group of related projects that are managed collectively to achieve strategic objectives.
A project is a temporary endeavor undertaken to create a unique product, service, or result.
Therefore, the correct relationship is that portfolios are comprised of programs, which are comprised of projects.