What is Project? What is Project management?

WHAT IS A PROJECT ?

A project is “a temporary endeavor undertaken to create a unique product, service, or result.” Operations, on the other hand, is work done in organizations to sustain the business. Projects are different from operations in that they end when their objectives have been reached or the project has been terminated.

What is Project management?

Project management is “the application of knowledge, skills, tools and techniques to project activities to meet the project requirements.” The effectiveness of project management is critical in assuring the success of any substantial activity. Areas of responsibility for the person handling the project include planning, control and implementation. A project should be initiated with a feasibility study, where a clear definition of the goals and ultimate benefits need to be determined. Senior managers' support for projects is important so as to ensure authority and direction throughout the project's progress and, also to ensure that the goals of the organization are effectively achieved in this process.

Features of projects:

1.Projects are often carried out by a team of people who have been assembled for that specific purpose. The activities of this team may be co-ordinated by a project manager.

2.Project teams may consist of people from different backgrounds and different parts of the organisation. In some cases project teams may consist of people from different organisations.

3. Project teams may be inter-disciplinary groups and are likely to lie outside the normal organisation hierarchies.

4. The project team will be responsible for delivery of the project end product to some sponsor within or outside the organisation.

5. The full benefit of any project will not become available until the project as been completed.