Project

A project is a temporary initiative that aimed to create a unique product, service, or result. Let’s take a closer look at its main characteristics:

• Temporary – They are temporary because they have a defined beginning and end. They orientation is to achieve goals that bring change to the business. Thus, they are distinct from operations, which are ongoing activities aimed at maintaining business functions. Being temporary doesn’t imply the product will have a short lifetime. For instance, everyone expectes that a bridge last many years after the project completion.
• Creates Unique Products – They develop unique products. These unique products introduce uncertainty in terms of “what to do,” “how to do it,” “when to do it,” “who will do it,” and “how well to do it.” This is why they are distinct from operations, which focus on repetitive tasks.
• Progressively Elaborated – Progressive elaboration means that they will progressively plan them. That is, the plan will become more detailed as better information becomes available.