Project:
“A project is usually a one-time activity
with a well-defined set of desired end results…complex enough that the subtasks
required careful coordination and control in terms of timing, precedence, cost
and performance.” [Project Management: A Managerial Approach, Jack R.
Meredith and Samuel J. Mantel, Jr. 1995]
In 1999,
Accenture defined a project as: “The assignment of resources to accomplish specific
results (deliverables) with a well-defined schedule and budget.”
A project is
usually defined as a cycle comprising of activities that are unique and in
connection with each other and all leading to one goal having constraints to be
fulfilled. The constraints are that the activities should be accomplished in specific
time, within budget and according to the defined terms.
When we say
that a project has unique activities, it depicts that these activities have
never happened before in the project and will not happen again under the same
specifications. These activities are complex and follow an order in which they
should be completed. Connections form a sequence in a way that output from one
activity serves as input to another activity.
Every
project has a single goal to which all activities are heading to along with a
defined completion time. In order to have a successful project, it has to be
within the resource limits i-e within budget.
What is
expected from a project is specified by the client and a certain level is setup
for the functionality to be provided which forms the project requirements.
Multiple projects make up a program which is larger in scope than a project.
Project Characteristics:
A project
has a specific start and end date with specific objectives. It has a budget and
produces specific deliverables. It has an owner or sponsor. A project can vary
in complexity, duration and size and may only be a phase within a larger
project.
