Definition of project
Project is a limited-time venture, planned with a set of tasks to achieve desired goal or goals which is not available now.
The desired goal could be a product, service, result, business model, strategy or in today’s competitive and technological advanced business environment it could be anything.
Features of a Project:
Project and Operation are not same. Here are some basic features of a project.
- Every project is unique
- Project has a definite beginning and ending
- It must have a predefined goal, for which the project is initiated
- Project has a budget, cost, resource and risk involvement
- It bring changes in organization’s business state
- Successful projects contribute to organization’s value creation