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Definition of a Project

A project is an approval for a capital investment to develop facilities to provide goods and services.

Objectives of a Project

A project is a proposal for investment to create, expand, and/or develop certain facilities in order to increase the production of goods and/or services for a community during a certain period of time. The basic objectives for initiating a project by an entrepreneur may be:

1. Maximization of stakeholders’ wealth or market value of equity shares.
   
2. Increased production/of goods and/or services.
   
   
3. Enlarging the capacity of existing projects.
   
4. Increasing the productivity of goods and services.
   
5. Increasing the internal rate of return at low risk.
   
6. They must be consistent with organizational plans, policies, and procedures.
   
7. They must be measurable tangible and verifiable from time to time.
   
8. These project objectives must be in tune with the present or anticipated resources.