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A project is a temporary endeavour undertaken to create a unique product, service, or result. It has a specific objective, a defined beginning and ending, and is carried out within certain limitations of time, cost, and resources. Projects are different from routine operational activities because they are designed to achieve a particular goal and produce a distinct outcome. In project management, a project is planned, executed, monitored, and controlled to ensure that the desired objectives are achieved effectively and efficiently. Projects are initiated to solve problems, introduce improvements, develop new products, implement changes, or achieve strategic goals of an organization. Examples of projects include construction of a building, development of a software application, launching a new product, organizing an event, or implementing a new business system. Projects have several important characteristics that distinguish them from regular activities. The major characteristics of a project are: 1. Temporary Nature: Every project has a definite start date and end date. It is created for a specific period and completes when ________ _____ _____ __________ _________ ___ ______ ____ ____ _____ _______.
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