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What is a project?
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People have been planning and managing projects since the early histroy of time. The Great Pyramid of Giza, the Great Wall of China, and Stonehenge in England are unmistakable prove of that.
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According to A Guide to the Project Management Body of Knowledge - 3rd Edition [Project Management Institute (PMI®) - 2004], a project is defined as "A temporary endeavor undertaken to create a unique product, service, or result."
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Project in modern day business environment can be best defined as: a unique and finite piece of work, undertaken within defined cost & time constraints, and directed at addressing real business needs (solving problems/seizing opportunities) to achieve a stated business benefit.
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Projects are undertaken to address the changing needs of the future. Therefore, we can say that projects are investments for the future. It is imperative that we need to carefully select projects and manage them well because our future depends on the flawless execution of projects and its results.
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