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Concept
Project
Summary
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal.
An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations".
A project may be a temporary (rather than a permanent) social system (work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints.
A project may form a part of wider programme management or function as an ad hoc system.
Open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations.
The word project comes from 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 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.
Based on the Project Management Institute, a project can be defined as a "temporary endeavor" aimed to drive changes in teams, organizations, or societies. The output of a project is normally a unique product, service, or result.
Project cancellation is the termination of a project prior to its completion and generally includes the cessation of access to funding and other project resources. Project cancellation may result from cost overruns, schedule overruns, changes in budget, change or obviation of the goal of the project, political factors, or any combination of those and other factors. Contracts often stipulate the time and the manner in which a project may be cancelled.
Official source
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