Portfolio refers to a group of related or non-related projects or programs; it can consist of multiple programs or multiple projects, non-similar ones, without having a single program. Portfolio management guarantees that an association can use its project choice and execution achievement. It refers to the incorporated administration of at least one project portfolio to accomplish vital strategic goals. On the other hand, all related projects are managed by program management. The examinations have demonstrated that portfolio administration is an approach to cross over any barrier amongst strategy and execution. Having a portfolio will provide support and better utilization of resources among projects or programs, also fewer conflicts as well as better coordination among projects.