PROJECT

According to the Project Management Institute, inc. (PMI), it is "the application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project."... Conceiving and initiating a project really has one absolute requirement: it has to be temporary. That means it has a start date, and a finish date. When the project has a beginning and end, then you can define what it needs to accomplish(scope), how much its going to cost(cost), and how long its going to take (time). With that information, it can be conclude if the project can be realistically taken on. In this phase a decision whether or not to proceed is made.