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A project is a work effort made over a finite period of time with a start and a finish to create a unique product or 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 result.
Let's try to understand these two defining concepts: temporary and unique.
Temporary - The temporary nature of projects refers to the fact that each project has a definite beginning and a definite end. A project can reach its end in one of two possible ways:
• The project has met its objectives-that is, the planned unique product has been created or the results achieved.
• The project has been terminated before its successful completion for whatever reason.
The temporary nature of projects can also apply to two other aspects:
• The opportunity to market the product that the project will produce is temporary-that is, the product needs to be produced in a limited timeframe; otherwise, it will be too late.
• A project team is temporary-that is, the project team is disbanded after the project ends, and the team members may be assigned to other projects eventually.
However, remember that the temporary nature of a project does not refer to the product it creates. The results or outcomes of a project are usually long lasting. Go back to the building your home example. Even though the construction process ends after say 9 months, your house is going to stand forever (Unless you plan on renovating or rebuilding it from scratch, which by themselves will be separate projects)
The second defining characteristic of a project is that it must create a unique product.
Unique product - The outcome of a project must be a unique product, service, or result.
How do these 3 terms differ from one another?
• Product - This is a tangible, quantifiable artifact that is either the end item or a component of outcome. The LCD TV in your living room or the fast BMW Car you drive or the nice diamond pendant you got your wife on her birthday are some examples of products.
• Service - Actually, when we say a project can create a service, we really mean the capability to perform a service. For example, a project that creates a website for a bank to offer online banking has created the capability for the bank to offer the online banking to its customers.
• Result. This is usually the knowledge related outcome of a project-for example, the results of an analysis performed in a research project.
What else can I help you with?
What are the physical characteristics of rosemary?
Rosemary brown is the person im doing for my project she is a Canadian politician who is brownType your answer here...
What was one of the characteristics of political machines?
They were involved in various forms of corruption
What following characteristics did the various city-states not share?
Common political system.
What was the goal of the Mohole project?
The original goal was to learn more about the characteristics of the material found at the interface of the earth's crust and the underlying mantle.
What are the characteristics of project organization and Explain how these characteristics affect the control system of a project?
A projectized organization's structure is organized around projects. Most of the organization's resources are devoted to the projects. the project team members report directly to the project manager who has a great deal of independence and authority (Imagine the structure in the Functional Organization) He reports directly to the CEO and has great control over his team and especially on what happens to his team members (Unlike the functional structure where the team is at the mercy of the functional manager) Along with the responsibility comes the high level of autonomy over the projects. The projects managers are a happy bunch of people in a Projectized organization. The functional and projectized organizations are like north and south poles of a magnet. A project manager in a projectized organization has the following attributes: • The project manager is full-time. • The project manager has full authority over the project team. • There is full-time administrative staff to help with the project.
Conclusion for a project on various rocket propellants and their characteristics?
A conclusion is a synopsis of the experiment, along with the findings of the experiment. It ties the entire project together.
Characteristics of project management?
Following are 3 characteristics of Project Management: * Assigning responsibilities related to each project * Applying defined practices for planning, scheduling, monitoring, and controlling the projects. * Building and directing project teams
What are the characteristics of materials to be used for specific project?
The characteristics of materials to be used for a specific project depend on the needs of the project. There are several different types of materials that work better for some products then others. The first step would be to determine which materials would work best.
What are characteristics of a P.M.I.S?
Characteristics of a PMIS (Project Management Information System) include automation of project tasks, integration of project information, visualization of project data through dashboards and reports, and collaboration features for team communication and coordination. PMIS helps in planning, monitoring, and controlling project activities to improve overall project performance.
4 Explain various storage devices and their characteristics?
Explain various storage devices and their characteristics?
What are some physical characteristics in India?
I don't no and this project is do this wensday
What are the various steps involved in project selection?
The various steps are:- Creating a Project Charter- Conduct a Business Impact Assessment- Use the Project Evaluation Scorecard to see the project's value to the organization.
What is a good project on gerbils that won't hurt them?
A good project is what they spend time doing, what is funny about them, characteristics, etc.
What is project report plus characteristics of project report?
project report is a systematic and technical analysis of data collection about selected topics and identify the some problem
What is project report plus characteristics project report?
project report is a systematic and technical analysis of data collection about selected topics and identify the some problem
What are the characteristics of science investigatory project title?
"Make something out ofnothing"
Which of these software characteristics is not a factor contributing to project coordination difficulties?
Performance
