Project management is the use of specific knowledge, skills, tools and techniques to deliver something of value to people. The development of software for an improved business process, the construction of a building, the relief effort after a natural disaster, the expansion of sales into a new geographic market—these are all examples of projects.

1. PROJECT
Definition, Characteristic
Features & Classification

2. PROJECT : Definition
The Project Management Institute PMI, USA defines project:
• “A project is a temporary endeavor undertaken
to create a "unique" product, service or result”
•“A project is a series of activities directed to
accomplishment of a desired objective.”
•“A project is a one shot, time consuming, goal oriented
major undertaking, requiring the commitment of varied
skills and resources.”

3. About projects
• A project is a ‘non-repetitive’ activity.
• It is a goal oriented – it is being pursued with a
particular end or goal in mind.
• It has a particular set of constraints- usually
centered around time and resources.
• The output of the project is measurable.

4. • A project can be defined as a complex of non
routine activities that must be completed with a
set amount of resources and within a set time
limit.
• A project is initiated to achieve a mission-
whatever the mission may be. A project is
completed as soon as the mission is fulfilled. A
project is not a physical objective, nor is it the
end result-it has to do something with the
going-on in between.
• A project is an investment made on a package
of interrelated time bound activities,
consequently, a project becomes a time bound
task.

5. CHARACTERSTICS / FEATURES OF
A PROJECT
• Objective
• Life span
• Single entity
• Life cycle
• Uniqueness
• Uncertainties & risks
• Team work
• High level of sub contracting
• Complexities
• Focused

6. PROJECT FAMILY TREE
Plan (Vision)
↓
Programme (Objective)
↓
Project (Specific Target)
↓
Work Package (Discrete Package)
↓
Task (Activity Composite)
↓
Activity (Action on Ground)

7. CLASSIFICATION OF PROJECTS
Quantifiable and Non-Quantifiable Projects
Sectoral Projects
o Agriculture and allied sector
o Irrigation and power sector
o Industry and Mining sector
o Transport and Communication sector
o Miscellaneous sector
Techno-Economic Projects
o Factor intensity oriented projects
o Causation oriented projects
o Magnitude oriented projects

8. CATEGORIES OF PROJECTS
• National International
• Non-Industrial Industrial
• Level of Technology
Low Technology
Conventional Technology
High Technology
Non-conventional Technology
• Size (Budget)
Small Medium
Major Mega

9. Financial Institution’s Classification of Projects
New projects
Expansion projects
Modernization projects
Diversification projects
Service Projects
Welfare projects
Research and Development projects
Educational projects