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Understanding the Various Types of Projects

A Project is any task or activity conducted by a person or group within a given period to meet specific objectives. Projects matter, not only to the project manager but everyone.

We all encounter different types of projects in our daily routines but fail to understand their nature and classification.

In project management, activities must be planned in line with the project’s objectives and timeframe.

When planning for a project, one must consider driving factors like cost, resources, among others.

A project is said to be successful if it winds up in good time and meets the customer’s desire.

Project management is the process of gathering the resources needed for a given venture and overseeing it to completion.

A project’s success depends on the availability of the resources that matter, project timeframe, and the project leader’s approach.

 Factors that Determine Types of Projects

There are many types of ventures, and each has a factor that distinguishes it from the other. Some of the factors that bring out these differences include:

1.  Theproject

A project scope gives a detailed description of the multiple tasks in a project. Its role is to spearhead the success of a project.

The scope determines the size of a project, often dictated by the number of people involved and the level of impact.

2.  Timeframe

This is the time a project takes to run from beginning to completion.

Once the stipulated time passes, project managers assess to evaluate the work done. The timeframe can further be subdivided into different units, each with its own set time.

When this happens, you are expected to complete a given section of the task before moving to the next.

It is the mandate of every employee to complete the assigned task within the allotted time. The project manager must also provide the necessary resources to ensure the work ends within the given timeframe.

3.  Organization

Organization is a key element in the project process. It refers to the arrangement of activities to be carried out in a project. Organization designs differ depending on the types of projects.

It is an essential part of project planning and works with technologies to create workflows in a project such as CPM and PERT.

Determining workflow enables you to find the most suitable work path, which increases the likelihood of meeting pre-set deadlines.

4.  Project

The appropriate delivery of information from one person to another is a critical aspect of project management.

Managers who pass on information frequently and in the right manner are more likely to meet project objectives.

Studies show that any project’s success relies on the effectiveness of the communication between managers and their teams.

5.  Project cost

This is the total money you are likely to spend on a project. The resources you set aside for a project will determine its financial needs.

A well-run project should produce more output from little input. Managers must plan well to avoid high costs.

And this can only be achieved through proper utilization of the resources required for a project.

6.  Stakeholder Management

Projects may differ in terms of the number of stakeholders involved.

A project manager and the team can make stakeholders, but many other parties, like beneficiaries and investors, often come in with different opinions that may hinder workflow.

7.  Quality of output

An evaluation may reveal the results of a project did not meet the customer’s needs.

The best project managers aim to be achieving the best result and often meet or exceed the set standards.

8.  Task 

Tasks are assigned differently in the various types of projects. Projects can also vary depending on the number of activities assigned to the team members.

The project manager’s job here is to ensure that the right task is assigned to the right individual or group.

And every team member must ensure the assigned task is executed within the anticipated time.

Project Classification

A Project is any task or activity conducted by a person or group within a given period to meet specific objectives. Projects matter, only important to the project manager but everyone.

We all encounter different types of projects in our daily routines but fail to understand their nature and classification.

In project management, activities must be planned depending on the project’s objectives and timeframe.

Projects are not the same and can be grouped depending on the following factors: capital, complexity, content, purpose, and people involved.

The following are the various types of project classified based on different factors

1.  Project classification based on

Under this factor, we find the following types of projects:

• Simple projects: An easy venture does not require detailed planning. It is characterized by a small number of stakeholders and crew members.
• Complex projects: These are sophisticated projects that require proper planning to start and run to completion.

When working on a complex project, it is advisable to subdivide it into achievable sprints. Further subdivision also gives room of restructuring the complex interrelation between the basics and the stakeholders.

In these projects, managers are advised to use various tools to determine workflow among team members.

2.  Types of projects based on funding

Based on the sources of funding for a project, researchers have come up with the following types.

• Public projects: These are programs financed by governmental institutions, for example, the construction of roads.
• Private projects: These are those funded by individuals or private business accounts.
• Mixed projects: Financing for such projects comes from both the private and public sectors.

Funding can also come from many other sources like angel investors and non-governmental organizations.

3.  Project classification based on

• Construction projects: Construction projects are those involving architectural or construction jobs.
• Engineering projects: Are projects which require adequate planning, and the target must be achieved within a given framework.
• Information technology projects: These projects deal with computer software development or any related IT systems. Increased technological knowhow has made IT projects way popular today; almost all projects today require a piece of computer knowledge.
• Business projects: These types of projects aim at boosting business performance.
• Product or service rollout projects: These projects focus on developing goods and services, for example designing new products.

There are many other forms of projects based on the industry, but the above are the most common.

      4. Project classification based on the groups/people involved.

Just as we had said earlier, a project can be done by an individual or a group. We have the following project types based on the number of people involved in a project:

• Departmental projects: These are projects involving people within a given department in a firm, such as the IT department.
• Internal projects: These ventures involve a team of experts and managers who work in a company.
• External Projects: These ventures are managed by the outside consultants who are professionals or have advanced knowledge and experience on the issue at hand. These individuals normally lead the project and are usually referred to as team leaders. These types of projects are mostly found in the digital transformation process, implementing strategic changes, and improving company processes.

Last, are matriarchal ventures involving more than one branch within an organization?

5.  Projects based on

Projects can also be classified depending on goals:

• Production: these projects focus on the production of goods and services, taking into account the company’s key objectives.
• Social projects: these programs aim to make life better by impacting the individuals in the surrounding, normally through CRS (Corporate Social Responsibility).These types of projects benefit people through the creation of employment opportunities hence improving their living standards.
• Educational projects: These are projects which embrace the passing of knowledge from one person to another. They deal with a large number of people who pull different strings in the project.
• Research projects: Emphasizes innovation and education based on technological knowhow, thus pacing up work within the organization.

Research projects involve extensive studies, data collection, and analysis from the relevant sources and target groups.

Doing further studies on the various project types of interest can equip you with the right skills and best practices.

Conclusion

Project management is the process of gathering the resources needed for a given venture and overseeing it to completion.

A project’s success depends on the availability of the resources that matter, project timeframe, and the project leader’s approach.

These many types of projects that can bring multiple benefits to organizations if managed effectively.

Project managers, therefore, should employ multiple techniques to ensure projects are executed within a given timeframe.

These different types of projects play different roles in running a business, and the success of a firm often depends on how well leaders and teams execute projects.

All workers should strive to boost organizational performance.