Final answer:
Programs managed as portfolios offer benefits such as risk diversification, optimal resource allocation, and improved performance monitoring.
Step-by-step explanation:
Programs are often better managed as portfolios for several reasons, particularly within the context of business and investment strategy. One of the main reasons for managing programs as portfolios is for diversification. A diversified portfolio can reduce risk by spreading investments across various asset classes or sectors, potentially increasing returns without increasing risk. Secondly, portfolio management facilitates resource allocation, ensuring that resources are optimally divided among projects or investments to align with a company's strategic objectives.
Lastly, managing programs as portfolios allows for more robust performance monitoring, enabling better oversight and adjustments to be made swiftly in response to market changes or internal performance issues. These reasons underscore the benefits of portfolio management, which include mitigating risk, optimizing resource usage, and enhancing decision-making processes.