What is a key characteristic of a project?

A key characteristic of a project is that it is temporary and has a specific beginning and end. This distinguishes projects from ongoing operations or processes, which do not have a predetermined timeframe. Projects are typically undertaken to achieve unique objectives within a set duration, often in response to a specific need, such as developing a new product or implementing a new system. This temporary nature means that once the project's goals are met, or the project is completed, resources are released, and the project team disbands.

In contrast, ongoing activities, which are part of the organization's routine, do not fit the definition of a project as they are continuous and aim to maintain stability and operational efficiency. While multiple stakeholders are usually involved in projects, it's not a defining feature that sets them apart, as operations also engage various stakeholders. Additionally, projects do not include routine operations and maintenance, which are part of regular business processes rather than temporary endeavors with specific outcomes.