The project is a planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations. It is generally deemed to be a success if it achieves the objectives according to their acceptance criteria, within an agreed timescale and budget.
Features of project: From the viewpoint of objectives, functions, internal function environmental each project has specific characteristics. These are as follows: –
The most crucial attribute of a project is that it must be important enough in the eyes of senior management to justify setting up a special organizational unit outside the routine structure of the organization.
A project is usually a one-time activity with a well-defined set of the desired end result. The project is complex enough that the subtasks require careful coordination and control in terms of timing procedure, cost, and performance.
- Definite life cycle:
Like organic entities, a project has a life cycle. From a show beginning they progress to a buildup of size, then peak, begin a decline, and finally must be terminated by some due date.
- Complex interdependent:
A project often interacts with other project being carried out simultaneously by their parent organization. The employees of a project come from the different environment and make complex interdependencies.
Through the desired end results may have been achieved elsewhere, they are at least unique to the organization. Moreover, every project has some elements that are unique.
A project has a limited budget, both for personal as well as other resources.
- Conflict environment:
More than most managers, the project manager lives in a world characterized by conflict. Projects complete with the functional department for resources and personnel. Here conflict arises for leadership, distribution, and individual interest.