Key Characteristics of Projects

TASK 1
1. Key Characteristic of project
There are various characteristics of projects such as projects are unique in nature that
provides brief definition from beginning to ending date. Projects are considered completed
when it’s goals and objective are met within timeframe. There are five key characteristic of
the project such as scope, resource, time, quality and risk which supports to access that
project is valid and attainable to achieve or not.
 Scope defines significance of project for the future perspective. While resources are
those authentic sources which provides adequate information in order to achieve
scope.
 Time defines number of tasks that will be undertaken within specific period.
 Quality is the term of maintaining standard of content that will be recorded in this
project.
 Risk defines consequences that can be taken place while conducting project.
 There are various stakeholders of the project such as top-management, project team,
resource manager, internal and external customers, project manager and government
who plays different role in the project.
 The main goal of stakeholder analysis is to determine key stakeholders and examine
their needs in order to create and deliver best quality or service in the first attempt.
 These stakeholders support to gather qualitative information related to project.
2. Purpose of Project Initiation Documentation (PID)
The main purpose of project initiation document is to cover and record general
information that requires to authentically define and plan the project precisely (Keersand van
Fenema, 2018). PID is important for planning in order to gain all framed goals and
objectives within timeframe. So, it is considered one of the major factors of achieving project
aims. There are three factors that could be founded in the PID such as project background,
project scope statement and communication plan. These are important elements that supports
to maintain quality of the project.
3. Purpose of feasibility
Feasibility study provide brief information about companies and analyse that project
manager and project are pursuing the rules or course of action while conducting project or