Project management principles are required to manage the projects throughout the project life cycle, from conception to completion. To start with let us clarify project contexts;
A project is a temporary endeavour undertaken to create a unique product, service, or result.
– Definition from PMBok Guide
In the real world, a project is unique with inter-related tasks, which has defined start and finish times whose purpose is to achieve a common objective.
A common understanding of best practices for projects share the common characteristic of being:
- temporary – having a definite start and finish
- unique – the product or service is different in a significant way from all similar products or services.