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ANANYA GHOSH (MKT-B) PROJECT MANAGEMENT UNIT 1: 1.1 Definition of Project. Project management is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria. - Wikipedia Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. - PMBOK 1.2 Characteristics of a project. Temporary with a definite Start and Finish points. Is a unique activity with a visible output May involve uncertainty and risk Is developed using progressive elaboration Involves a team coming together specifically for the project A budget Non repetitive tasks, sequential order Use of resources A single point of ultimate responsibility Clearly defined team roles Clear aims, objectives, goals
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