The Nature of the Project is
Reflected in its Objectives:
Projects are undertaken to achieve planned results within a time frame and at some cost of resources. This set of descriptors comprise the project objectives.

Each project is a unique undertaking, so its outcome cannot be predicted with certainty. This means that projects are risk ventures, and much of a company’s risk is contained within its projects.

Project management is the business of creating appropriate behaviors to fulfill the objectives of projects in the face of all the risks and problems encountered on way.