What is project?

The term project is the pre-planned activity to produce the desired and measurable results out of it. The projects are temporary activities which can be conducted on the basis of needs and requirements.

These can be conducted by individuals or organizations. If any business organization wants to expand the market size & demand for their product and ultimately boost their sales. In that case, they can conduct multiple projects. Like, marketing campaigns with new marketing techniques, product awareness campaigns, distribution chain building, etc.

E.g., A recent big project of SoftBank named as SoftBank Vision Fund. In this, SoftBank is going to invest $100 Billion in various startups. This is an investment project.

So, the meaning of the project is basically an activity which is preplanned and conducted for an expected outcome.

Main Characteristics Of Project

  1. Pre-planned
  2. Time frame
  3. Result oriented
  4. Set or requirements
  5. Uniqueness

Pre-planned

Basically, the projects get defined on the basis of the needs. So, to fulfill that need, the projects get conducted. As projects are based on needs so, ultimately it has the expected results. And to produce the desired results, the projects must have the pre-planning and its execution.

Time Frame

As we discussed above, the projects are pre-planned. So, in that plan, It has a predefined start time and the end time. All the activities involved in it gets conducted as per the stipulated time frame with the help of proper time management.

So the time frame is the main characteristic of the project.

Result Oriented

The projects are result oriented. Because the output of the it can be the goods, service or the result. These results are measurable or auditable.

The leaders of the project can br defined the gap between the expected results and actual output (results), after analyzing the results of it.

Set of requirements

In the project, a lot of resources are involved to complete and get the desired results. The project requires the teamwork, finance & it’s management, sufficient time, and other requirements (which depend on project to project).

So, it’s a set of requirements.

Uniqueness

As project get defined on the basis on the needs and requirements, every need or requirement cannot be repeated. So, when the needs are different then also the projects are different. When the desired results are different then, the design and execution of it would be different. So, every project gets uniqueness every time.


  • By Auther…

I hope you like this article. You can share your experience below in comment box or if you think, any changes or improvements are required in the post then please comment that also. So we, I can improve that and can give more knowledgeable information and delightful experience at the next time.

  • By Our Entire Team…

Thank you for visiting our website..!

If you want to get more business-related knowledge then Join Business Guide Blog and ‘Make Your Life Profitable’!

Author

Hitesh Karpe is a founder of businessguideblog.com and running his (Food manufacturing) family business as well. He is well acquainted with the knowledge of business fundamentals & management, business expansion & process, business finance & financial analysis, people management, sales & marketing, and Leadership. Also, he writes the articles on the above topics with the intent to help the people to succeed in their business and professional careers.

Write A Comment

Pin It