Organizations are formed to perform some kind of work. And work is classified into operations and projects, involving both of them in some cases. The two classifications share a few common attributes such as they:
. Involve people.
. Are inhibited by lack of 100% resources.
. Are Managed, Performed and Monitored.
The supreme difference between operations and projects is that projects are chunks of work that are independent and completed in a specific amount of time, while operations are a continual process. Hence, due to its uniqueness, the Project can be defined as – a project is a piece of work performed to develop a specific product or achieve a certain goal in a given amount of time. The duration of the project is fixed, so it has a start time and a finish time. Independent means that every product achieves a different set of goals and needs, which distinguish it from any other similar package.
At all tiers of an organization, projects are being worked upon. From a single person to a few thousand people can be part of a single project. And similarly, the completion hours range from a less than a hundred hours to more than 10,000,000 figure. A single organization can work on a project, or it can also involve other firms, as seen in mutual partnerships. The business strategy of an organization evolves through the projects. Such as, the projects are used to:
.design a new product or develop a new service
. Bring about a radical change in an organization.
. Develop a unique v