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PROJECTS

 

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In contemporary business and science a project is a collaborative enterprise, involving research or design, that is carefully planned to achieve a particular aim.

Project can also be defined as a set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations.

Projects can be further defined as temporary rather than permanent social systems or work systems that are constituted by teams within or across organizations to accomplish particular tasks under time constraints. An ongoing project is usually called (or evolves into) a program.

The word project comes the Latin word projectum from the Latin verb proicere, "before an action" which in turn comes from pro-, which denotes precedence, something that comes before something else in time (paralleling the Greek πρό) and iacere, "to do". The word "project" thus actually originally meant "before an action".

When the English language initially adopted the word, it referred to a plan of something, not to the act of actually carrying this plan out. Something performed in accordance with a project became known as an "object". Every project has certain phases of development.

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Project management
In project management a project consists of a temporary endeavor undertaken to create a unique product, service or result. Another definition is a management environment that is created for the purpose of delivering one or more business products according to a specified business case.

Project objectives define target status at the end of the project, reaching of which is considered necessary for the achievement of planned benefits. They can be formulated as SMART criteria: Specific, Measurable (or at least evaluable) achievement, Achievable (recently Agreed-to or Acceptable are used regularly as well), Realistic (given the current state of organizational resources) and Time terminated (bounded). The evaluation (measurement) occurs at the project closure. However a continuous guard on the project progress should be kept by monitoring and evaluating. It is also worth noting that SMART is best applied for incremental type innovation projects.[citation needed] For radical type projects it does not apply as well. Goals for such projects tend to be broad, qualitative, stretch/unrealistic and success will be driven.

 

 

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