| Project | Operation |
| Temporary | Ongoing |
| Unique | Repetitive |
| Closes after attaining the objectives | Objective is to sustain business |
| Prototyping the new Car Model | Assembly line production |
What is Project Management?
- Project Management is the application of knowledge, skills, tools and techniques to project activities to meet the project requirements.
- Accomplished through the application and integration of PM processes - Initiating, Planning, Execution, Monitoring and Controlling and Closing
- Establishing clear project objectives and requirements
- Balancing the competing demands of scope, time, cost and quality
- Manage uncertain events
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