ABSTRACT
Organizations can be treated as an ensemble of projects—thus, rendering projects as the smallest addressable entities within an organization. Projects have identified objectives, are dynamic, have a finite lifecycle, and consume resources while constantly interacting with the environment and interfacing with other project(s). In parallel with the network/hierarchy of objectives, organization can be envisaged as a network/hierarchy of projects; projects can be of all types: business, strategy, financial, technical, or technology types; projects can be of all sizes and also evolve. Projects can be fully internal or allied with other appropriate organizations or joint ventures or even fully outsourced external organizations. Conventional approaches to management tend to have a static view of its operations. In contrast, management by projects inherently reflects the dynamic nature of organization; it also emphasizes the executional aspects of businesses that is often lacking.
