Project

A project is a temporary endeavor undertaken to create a unique product, service, or result. It has a defined start and end, a clear objective, and constraints related to scope, time, and cost. Projects are distinguished from ongoing operations by their finite duration and the need to deliver a specific outcome rather than maintain continuous performance.

Key characteristics of a project include its uniqueness, the involvement of a temporary, cross-functional team, and the need to manage risk and stakeholder expectations. Projects progress through progressive elaboration, with plans becoming more detailed as uncertainty decreases. They often require coordination across disciplines, vendors, and departments, and they operate within a governance structure that authorizes funding and accountability.

Project management is the discipline of applying knowledge, skills, tools, and techniques to project activities to meet the project requirements. Common lifecycle phases include initiation, planning, execution, monitoring and controlling, and closing. Methodologies range from traditional, linear approaches to iterative and adaptive ones such as agile frameworks. Standards and frameworks, such as the PMBOK Guide and PRINCE2, provide structured guidance on processes, roles, and documentation.

Projects span many domains, including information technology, construction, research and development, government programs, and product development. Success depends on clear objectives, realistic constraints, effective stakeholder engagement, risk management, and disciplined change control.