What is a Project

Before we intend to learn about Project Management, it's required to know about the conception of Project first.

What is a Project?

A project is a temporary endeavor undertaken to create an unique product, service or result.

1. Temporary
Every project, not the created deliverable product, service or result, has a definite beginning and a definite end. Even though some projects may last several years, it definitely has a deadline.
Sometimes temporary describes the market window. That means you should complete the project as soon as possible, otherwise, it may lose the best market opportunity.
Project teams are often more temporary than the project itself, but typically project teams only last as long as the project does.Once the project is complete, the team disbands and the project team members move onto other projects within the organization.

2. Unique Product, Service or Result
Projects are unique. This means that every project you ever do is different than all the other projects you've done in the past. Even if it's the same basic approach to get to the same end result, there are unique factors within each project such as the time it takes, the stakeholders involved, the environment the project takes place in, and on and on the uniqueness goes. Basically, all projects are unique even if your company does the same type of project over and over. Lucky you.
I could not exactly understand the sense of the uniqueness of the project.
The outcome of a project can be kind of product, service or result.

3. Progressive Elaboration
Generally, we develop a project in steps and continue by increments. This is the meaning of progressive elaboration. It's kind of iterative developing.
Complete understanding of the needs—and the ability to fulfill those needs—comes from progressive elaboration. Progressive elaboration is an iterative process designed to correctly and completely fulfill the project objectives.
Progressive elaboration is the refinement that project components pass through to reach their final state, such as a project plan.