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A project as defined by PMI states the following:
"A Project is a temporary endeavor undertaken to create a unique product, service, or result." The project is completed when the objectives have been reached from the customer’s perspective, when the project is terminated because its objectives cannot be met, or if the need for the project no longer exists.
The term 'temporary' refers to the execution of the project and not to the product of the project, which is usually created to deliver a lasting or sustained outcome. An example of this type of project would be a national coast-to-coast railroad system or a national monument.
The term 'unique' means you are doing something that is without like or equal. This does not mean that every aspect of the project is unique. A project may contain repeating elements such as processes or infrastructural elements.
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The Project Management Institute (PMI) is a leader in credentialing project management professionals and advancing the field of project management. The PMI has a global footprint in nearly 200 countries around the world. From its global headquarters in Newton Square outside of Philadelphia, the Project Management Institute provides certifications for project management professionals, as well as career training and educational resources. The group also maintains research programs to advance scientific and practical abilities within the industry.
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