OBS 124
Unit 6: Modern Project Management Notes
What is a Project
Project: A temporary endeavour undertaken to create a unique product, service, or result
The major characteristics of a project are as follows:
1. An established objective
2. A defined life span with a beginning and an end
3. Usually, the involvement of several departments and professionals
4. Typically, doing something that has never been done before
5. Specific time, cost, and performance requirements
Program: A group of related projects designed to accomplish a common goal over an extended
period of time
Project life cycle: The stages found in all projects- definition, planning, execution, and delivery
Unit 6: Modern Project Management Notes
What is a Project
Project: A temporary endeavour undertaken to create a unique product, service, or result
The major characteristics of a project are as follows:
1. An established objective
2. A defined life span with a beginning and an end
3. Usually, the involvement of several departments and professionals
4. Typically, doing something that has never been done before
5. Specific time, cost, and performance requirements
Program: A group of related projects designed to accomplish a common goal over an extended
period of time
Project life cycle: The stages found in all projects- definition, planning, execution, and delivery
