Project

A project is a finalised set of activities and actions:

Undertaken by a project team under the responsibility of a project manager;
With the aim of meeting a need defined by a contract within a set timeframe;
Within the limits of an allocated budget.

The project is distinguished from the run mode by the following criteria:

Universe: unknown and innovative for the project, repetitive and stable for the run.
Process: historical and irreversible decisions for the project, recurrent and reversible decisions for the run.
Uncertainty: high with exogenous and uncontrollable variables for the project, low with endogenous variables for the run.
Cash flow: negative (investment is required before a return) for the project, positive (the operation generates a profit) for the run.
Difficulty: managing a complex "leap into the unknown" for the project, intervening rapidly in the event of a blockage for the run.