A project is defined as "a temporary endeavor undertaken to create a unique product, service, or result." (A Guide to the Project Management Body of Knowledge, PMBOK Guide, Fourth edition) From this definition, we can identify certain characteristics of the project which are listed below:

• Projects are temporary in nature. Temporary does not necessarily mean the projects are short in duration. It means they have a definite beginning and ending date; or in other words, a project has a finite and defined lifespan.
• Projects are unique as the products, services, or results they produce are different in some distinctive way from similar products, services, or results.
• Projects are completed when the project goals and objectives are achieved or it's determined the project is no longer viable

Following are some examples of a project:

• Creating a new software application or system
• Creating a new drug
• Building a house
• Organizing a political campaign
• Designing and building a new airplane