PRojects

Projects are temporary endeavors undertaken to create a unique product, service, or result. They have a defined start and end, a specific scope, and constraints such as time, budget, and quality. Unlike ongoing operations, projects are non-repetitive and aim to achieve particular objectives.

Project management applies knowledge, skills, tools, and techniques to meet project requirements. Most work follows a lifecycle: initiating, planning, executing, monitoring and controlling, and closing. Initiation defines purpose; planning sets scope, schedule, cost, quality, and risks; execution implements the plan; monitoring and controlling track progress and adjust as needed; closing finalizes deliverables.

Organizations use methodologies ranging from traditional waterfall to Agile approaches such as Scrum and Kanban, or hybrids. Governance, roles (sponsor, project manager, team), and stakeholder engagement shape decisions and accountability.

Deliverables are the tangible or intangible outputs of a project; acceptance of these marks completion. Benefits realization focuses on whether outcomes deliver intended value to stakeholders.

Common challenges include scope creep, budget overruns, schedule delays, and resource constraints. Effective management emphasizes clear objectives, risk management, change control, and performance measurement, often using metrics such as earned value, schedule variance, and cost variance.

Projects occur across domains such as construction, software, research, and events. They enable strategic change by delivering new capabilities and are typically followed by operations and benefit realization.