A project is a series of tasks with time constraints and generates a specific outcome. Projects have a definite start date and a tentative completion date, which may be subject to minor changes as the work begins. The project is assigned by one organization and is undertaken by another. Two companies draw an agreement addressing multiple issues such as budget of the project, timeline, and the business requirements. The project must abide by the agreement at all times.
A project is a venture which is time bound, produces unique results, and is executed under agreed-upon constraints like scope, timeline, budget, and so on.