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The starting point in discussing how projects should be properly managed is to first understand what a project is and just as importantly what it is not .

People have been undertaking projects since the earliest days of organized human activity. The hunting parties of our prehistoric ancestors were projects for example; they were temporary undertakings directed at the goal of obtaining meat for the community. Large complex projects have also been with us for a long time. The pyramids and the Great Wall of China, were in their day of roughly the same dimensions as the Apollo Project to send man to the moon. We use the term project frequently in our daily conversations. A husband, for example may tell his wife, “My main project for this weekend is to straighten out the garage.” Going hunting, building pyramids, and fixing faucets all share certain features that make them projects.

A project has distinctive attributes, which distinguish it from ongoing work or business operations. Projects are temporary in nature. They are not an everyday business process and have definitive start dates and end dates. This characteristic is important because a large part of the project effort is dedicated to ensuring that the project is completed at the appointed time. To do this, schedules are created showing when tasks should begin and end. Projects can last minutes, hours, days, weeks, months or years.

Projects exist to bring about a product or service that hasn’t existed before. In this sense, a project is unique. Unique means that this is new, this has never been done before. Maybe it’s been done in a very similar fashion before but never exactly in this way. For example, Ford Motor Company is in the business of designing and assembling cars. Each model that Ford designs and produces can be considered a project. The models differ from each other in their features and are marketed to people with various needs. An SUV serves a different purpose and clientele than a luxury model. The design and marketing of these two models are unique projects. However the actual assembly of the cars is considered an operation, i.e., a repetitive process that is followed for most makes and models.

In contrast with projects, operations are ongoing and repetitive. They involve work that is continuous without an ending date and you often repeat the same processes and produce the same results. The purpose of operations is to keep the organization functioning while the purpose of a project is to meet its goals and to conclude. Therefore, operations are ongoing while projects are unique and temporary.

The project is completed when its goals and objectives are accomplished. It is these goals that drive the project and all the planning and implementation efforts are undertaken to achieve them. Sometimes projects end when it’s determined that the goals and objectives cannot be accomplished or when the product or service of the project is no longer needed and the project is cancelled.

A formal definition of a project

There are many written definitions of a project, however, all of them contain the key elements described above. For those looking for a formal definition of a project the Project Management Body of Knowledge (PMBOK) defines a project as a temporary endeavor undertaken to create a unique product, service or result. The temporary nature of projects indicates a definite beginning and end. The end is reached when the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists .

Bibliography

  • J. Davidson Frame, Managing Projects in Organizations , Wiley, New York (1995).

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
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appreciation
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explain perfect market
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In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
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Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
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Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
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Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
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Jabir
What do you think is more important to focus on when considering inequality ?
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Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
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In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
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Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
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Source:  OpenStax, Project management. OpenStax CNX. Aug 05, 2016 Download for free at http://legacy.cnx.org/content/col11120/1.10
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