project management glossary

project

 A temporary endeavor undertaken to create a unique product or service.

 A novel undertaking or systematic process to create a new product or service the delivery of which signals completion. Projects involve risk and are typically constrained by limited resources.

 An endeavor in which human, material and financial resources are organized in a novel way, to undertake a unique scope of work of given specification, within constraints of cost and time, so as to achieve unitary, beneficial change, through delivery of quantified and qualitative objectives.

 A one-time effort to accomplish an explicit objective by a specific time. Each project is unique although similar projects may exist. Like the individual activity, the project has a distinguishable start and finish and a time frame for completion. Each activity in the project will be monitored and controlled to determine its impact on other activities and projects.

 Unique set of coordinated activities, with definite starting and finishing points, undertaken by an individual or organization to meet specific objectives within defined time, cost and performance parameters.

 Projects are performed by people, constrained by limited resources, and planned, executed, and controlled. Temporary means that every project has a definite beginning and a definite ending. Unique means that the product or service is different in some distinguishing way from all similar products and services. Projects are often critical components of the performing organizations' business strategy.