In this tutorial, we will learn about the different characteristics of a project. A project is a series of tasks that need to be completed to create a product, service, or specific outcome or result. Some examples of projects are as follows:
- Development of a new software product
- Create a website
- Construction of a building
- Designing a car
- Organize a party
Characteristics of a Project
Some of the important characteristics of a project are as follows:
- Specific Objectives
- Life Cycle
- Customer Focused
- Measured Outcomes
Every project has a finite start and end. The project schedule is a plan for the completion of the project and the project activities to be done within the allowed time frame.
The project starts when the project is initiated and ends after completing all the phases and the objectives are met or when the project is terminated.
Every project is a unique and one-of-a-kind endeavor. No two projects are similar. The project outcome should be a unique and verifiable result or product.
A project should be customer specific and focused. Project deliverables tangible or intangible should meet customer expectations. Every project focuses on a different need and produces the output that is as per customer specifications.
A project is undertaken with specific objectives or goals. Once the goals are achieved the project is treated as completed.
Every project has a life cycle. The life cycle consists of different phases, i.e., initiation, planning, execution, monitoring, and closure.
Projects are allocated limited resources in terms of people, physical equipment, facilities, etc.
A well-defined project has measurable outcomes in terms of its deliverables, results, and achievements. The tangible and intangible outcomes of the project’s execution should be verifiable.
Projects have risks and uncertainties. A project risk is an uncertain event that may or may not occur during a project. Project teams should plan to overcome and mitigate the risks.