A project is a type of assignment, typically involving research or design, that is carefully planned to achieve a specific objective.
[1] 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".
[3]: Section 1.2 [4] A project may form a part of wider programme management[5]: 1 or function as an ad hoc system.
A project consists of a concrete and organized effort motivated by a perceived opportunity when facing a problem, a need, a desire or a source of discomfort (e.g., lack of proper ventilation in a building).
It seeks the realization of a unique and innovative deliverable, such as a product, a service, a process, or in some cases, a scientific research.
[citation needed] It is developed along the 4 Ps of project management: Plan, Processes, People, and Power (e.g. line of authority).
[citation needed] It is bound by the triple constraints that are calendar, costs and norms of quality,[7]: 53 each of which can be determined and measured objectively along the project lifecycle.
[citation needed] Some projects produce some level of formal documentation, the deliverable(s), and some impacts, which can be positive and/or negative.
In civil, military and industry (e.g. oil and gas) infrastructure, capital projects refer to activities to construct and install equipment, facilities and buildings.
[12] In corporate finance, "project" is often used to refer new capital investments; [13] these will span a spectrum of size and / or purpose (money making or cost saving).
[14] Therefore, these kinds of projects involve constant change and dynamism due to the social constructions that evolve among time.