Project Management - Introduction What is a Project? What are its Characteristics?

Correct Answer: A Project is a temporary endeavour undertaken to create a unique product, service or result Characteristics: 1Temporary Temporary means that every project has a definite beginning and a definite end 2 Unique Products, Services or Results Uniqueness is an important characteristic of project deliverables For example, many thousands of office buildings have been developed, but each individual facility is unique - different owner, different design, different location, different contractors, and so on 3 Progressive Elaboration Progressive elaboration means developing in steps, and continuing by increments For example, the project scope will be broadly described early in the project and made more explicit and detailed as the project team develops a better and more complete understanding of the objectives and deliverables