Project definition and lifecycle: everything you need to know

What is a project?

The word project, or “projectum” derived from the Latin verb proicere, literally means "to throw forward" or "to project". This original meaning reflects the idea of intention or a purpose aimed at the future. That’s how we commonly use the term in everyday life. According to Larousse 2024, the definition is — A goal one intends to achieve.

In the context of project management, the term has a more precise and practical meaning. Project management experts, such as those at the PMI (Project Management Institute), defined a project in 2013 as follows — A project is a temporary endeavor undertaken to create a unique product, service, or result.

Thus, a project is no longer simply an action or a set of actions one intends to carry out.

This is precisely where mastering the fundamentals of project management becomes a valuable skill. Even without being a project manager, understanding and applying key concepts can transform the way you work. At your level, it helps you adopt a methodical approach, stand out within your team, and contribute to solving challenges through sound practices.

Whether launching a new product line, changing a process within an SME, buying a house, or organizing a charity event, all these projects share one common point: they have a well-defined objective — a specific, measurable outcome that a person or organization aims to achieve within a given timeframe. It typically embodies a strategic vision and gives the project meaning by directing efforts toward a result.

Moreover, a project is clearly bounded in time: it has a precise start date, marking the launch of work or actions, and a well-defined endpoint corresponding to the delivery of the expected outcome.

Project participants—whether engineers, financial analysts, designers, salespeople, or clients—pool their diverse skills to work together within what is known as a project team.

A project must not be confused with routine or repetitive work. A project has specific constraints, risks, and uncertainties of its own. It is therefore carried out only once—it is unique.

Ultimately, a project is a structured undertaking that:

• has a clearly established objective;

• has a duration defined by a start and an end;

• is unique and has its own specific characteristics;

• requires the participation of several people or departments;

• must meet constraints and requirements in terms of time, cost, and results;

• involves a degree of uncertainty and risk;

Officially, the following definitions are given for a project:

Afnor X50-115 — A project is a set of coordinated and controlled activities with start and finish dates, undertaken to achieve an objective conforming to specific requirements.

ISO 10006 — A project is a unique process consisting of a set of coordinated and controlled activities with start and finish dates, undertaken to achieve an objective conforming to specific requirements, such as time, cost, and resource constraints.

Here is OUR definition of a project — A project is a unique objective to be achieved within a defined timeframe and context, subject to uncertainties and risks, by stakeholders with defined and constrained means.

The project lifecycle and its 4 phases

The project lifecycle is the cornerstone of project management. While every project is unique, it generally follows a four-phase pattern: definition, structuring, execution, and closure.

• Definition phase: This first step consists of establishing project specifications, defining objectives, forming the team, and assigning key responsibilities. This is where the project’s overall vision takes shape.

• Structuring phase: The defined objectives are translated into detailed plans. These plans specify the project scope, delivery timelines, expected quality level, and allocated budget. This is where the project’s foundations are built and solidified.

• Execution phase: Teams take action. They carry out planned tasks, build the product, set up the structure of a new service, test developed solutions, and make the adjustments needed to hit the objectives. This is the phase where most of the effort is deployed.

• Closure phase: This final phase consists of delivering the outcome to the client, training them if needed, and handing over all project documentation. Resources and teams are reassigned to other tasks or projects, and a post-mortem analysis is conducted to evaluate performance and capture lessons for the future.

Each phase is accompanied by continuous monitoring and control to ensure the project stays on schedule, within budget, and meets defined quality criteria. Monitoring also ensures the project is robust and resilient enough to anticipate and manage risks and unforeseen events.

Projects are everywhere—and for everyone

Thus, the concept of a project is universal and goes far beyond the industrial or corporate world. We all carry out projects. They’re not limited to major undertakings like building a bridge or organizing the Olympic Games. They can also be more human in scale, such as planning a trip, preparing a birthday party, or landscaping a garden.

In the nonprofit sector, projects often carry social or community values, whether setting up an awareness campaign or organizing a fundraiser. Projects are also central in education, with group assignments at school or university research.

Whether a personal initiative or a large-scale endeavor—in a professional or private context—the concept of a project is everywhere, in every sector and at every scale.

At Orchesia, we believe every project, large or small, deserves to be managed with rigor and diligence. We help you avoid pitfalls linked to poor planning, insufficient risk identification, or inadequate management. Thanks to our lessons and practical tools, you’ll be in the best position to “throw forward” and achieve your objectives with peace of mind.

Try our project management software Orchesia free for two weeks, no commitment!