Understanding Projects and Project Management

Before delving into the details of project management, you need to understand what a project is. At any organization there are many activities being executed every day. Most of these activities are organized into groups of interrelated activities. These groups fall into two categories: projects and operations. An operation is an ongoing and repetitive set of tasks, whereas a project has a lifecycle—a beginning and an end.

Understanding a Project

A project is a work effort made over a finite period of time with a start and a finish to create a unique product, service, or result. Because a project has a start and a finish, it is also called a temporary effort or endeavor. In other words, a project is a temporary endeavor taken to create a unique product, service, or result. So, a project has two defining characteristics: It is temporary, and it creates a unique product. Let’s explore further these two defining concepts: temporary and unique.