Final answer:
Program management focuses on managing and coordinating multiple related projects to achieve strategic objectives, while project management focuses on managing individual projects to achieve specific deliverables.
Step-by-step explanation:
The relationship between program management and project management can be clarified as follows:
- Scope: Program management focuses on managing and coordinating multiple related projects to achieve strategic objectives, while project management focuses on managing individual projects to achieve specific deliverables.
- Timeframe: Program management typically operates on a longer timeframe, spanning months or even years, while project management operates on a shorter timeframe with defined start and end dates.
- Complexity: Program management deals with higher complexity due to the interdependencies and interactions among projects, while project management deals with the specific intricacies of a single project.
- Stakeholder Management: Program management involves managing stakeholders across multiple projects and at different levels of the organization, while project management focuses on stakeholders directly involved in the project.
- Risk Management: Program management addresses risks at the program level, taking into account the cumulative impact of risks across multiple projects, while project management focuses on risks specific to the individual project.