What Are The Features / Characteristics of A Project?

Features / Characteristics of a Project:

1. A project involves investment of money or money’s worth.
2. It is a risky venture.
3. It has a fixed set of objectives.
4. It is subjected to a lot of change.
5. It has definite beginning & an end.
6. A project requires team work.
7. It has a life cycle reflected by growth, maturity & decay.
8. It is a unique enterprise. The location, infrastructure, the agencies & the people make each project unique.
9. It is a combination of various elements such as technology, equipment, materials, machinery & people.
10. Every project has risk & uncertainty associated with it.
11. It is concerned with production of goods & services.
12. Its objective is to earn profit.
13. It is a proposal involving capital investment.
14. It takes significant amount of time to complete.
15. It is a specific purposeful activity on which money is spent to receive the returns.
16. There are time & financial constraints.
17. It is different from routine business activities.