List five key attributes of a project and describe how each differs from BAU
1. Projects are unique/bespoke
A project is initialized because there has been a need for a product for example a new washing machine, the project has a specification to meet the requirements of this product whereas business as usual is ongoing, meaning that once the machine has been developed this transfers to business as usual for the day to day manufacturing of the product
2. Projects are limited by time
A project has a defined start and finish date so that the specification and requirements are met within the given time frame whereas business as usual is ongoing and repetitive for example the project starts the product but this will eventually transfer to business as usual for the day to day manufacturing of the item.
3. Projects are funded by a defined budget
Projects with a bespoke business case are given a budget to enable to the product to be developed, this money is usually taken from a capital budget whereas money allocated to business as usual comes from operational budgets within the organisation.
4. Projects seek to introduce change
A project is started due to a demand or need for change, for example the introduction of a new door entry system, this has been initialized due to a rise in ASB within a block of flats. Once this has been installed it will transfer over to business as usual for the maintenance and upkeep of the system
5. Projects have life cycles
A project will have a defined specification, within this there are a discrete number of steps that the product will go through, this is called a project life cycle. Once the product has been produced and goes into manufacture, this operational process is called a product life cycle.