Project management involves coordinating activities to achieve objectives on time and within budget. There are three ways to organize projects: as part of functional departments, as independent entities, or using a matrix structure. Projects can be engineering projects producing physical deliverables or management projects with intangible outputs. Projects are temporary with defined start and end dates, while operations are ongoing activities to achieve organizational goals. Programs manage groups of related projects, and an organization's entire portfolio includes projects, programs and operations aimed at its strategy.