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Project

What is Project
A project is time-bound and comprehensive set of activities and processes, which objective is to establish, create or change something specific. The project must be in a certain way managed.

Project is a time-bound and comprehensive set of activities and processes, which objective is to establish, create or change something specific. The project must be in a certain way managed and it is characterized by typical features:

  • Objective - the project must have a clear goal, outcome or utility, something that has to implement, create or modify
  • Time - the project is limited in the time sequence of actions, usually within months
  • Uniqueness - it is an unrepeatable, unique sequence of actions, which requires a specific type of management - Project-Based Management

For completeness here are two project definitions of norms and standards that relate to project management:

  • Definition of standard ISO 10006: “Project is unique process consisting of a set of coordinated and controlled activities with start and finish dates, undertaken to achieve an objective conforming to specific requirements including constraints of time, cost and resources.“
  • Definition of standard PMBOK: “Project is a temporary endeavor undertaken to create a unique product or service.“

Although each project is unique, in terms of project management all projects share certain characteristics. In particular, it is the same project phases that are defined in a similar way in all standards and norms in project management. Although the details may be different, projects are identical to the distribution of four basic phases of each project, as follows:

  1. Initiation
  2. Planning/Definition
  3. Execution/Implementation
  4. Closing

Related terms and methods to the project:

Related management fields:

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Last update: 29.05.2013
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