What are the characteristics of Project Management?

The following are the characteristics of project management:

  • Projects are ad-hoc endeavors that have a defined life cycle.
  • Projects are building blocks in its design and execution of enterprise strategies.
  • Projects are the leading edge of new and improving organizational products, service and enterprise process.
  • It provides a philosophy and strategy for the change of management in the enterprise processes management of change in the enterprise.
  • The management of projects entails crossing of functional and organizational boundaries.
  • The management of project requires an inter-functional and inter-organizational focal point to be established in the enterprise.
  • The traditional management functions of planning, organizing, motivating, directing and control are carried out in its management.
  • Leadership and managerial capabilities are essentially required for the successful completion of a project.
  • The main outcome of a project is the accomplishment of technical performance, cost and schedule objectives.
  • Projects are terminated upon completion of the cost, schedule and technical performance objectives, or earlier in its life cycle when the project is no longer promising or have a strategic fit in the enterprise’s future.