Modern views on the concept of the project.

There are several project management concepts. According to one of them, project management is understood as a field of activity aimed at transforming a natural or artificial system, or at creating a new system in accordance with the set goal and having limitations in time and resources used.

The project (English projects) includes separate technical and organizational

design development (English desigh). For example, each stage separately: a project, working documentation (in a two-stage design), a working project, a construction organization project, a project for the production of works fall into the category of design, and their totality related to economic sections relates to the category project.

Usually, the beginning of a project is the beginning of an investment in construction, in the form of cash or other tangible and intangible assets. In many cases, the construction of a building or structure is the ultimate goal of the project. If the end of the project is associated with the end of the operation of an immovable object, then in this case the achievement of the goal set for the project is determined by the operational period, which is associated either with the rental of premises, or with the organization of a certain production process in the constructed building.

The time interval between the beginning and the end of the project is called the project life cycle. It should be noted a certain conditionality of the beginning and end of the project For example, prior to the start of a major investment project, costs are incurred due to its feasibility study. The end of the project also does not always depend on the end of its “physical” life cycle, since a constructed or even unfinished object can be sold to another owner. Therefore, the project life cycle should be considered in correspondence with the ownership of it. The project associated with the implementation of the full cycle of capital investments from the initial investment to the completion of the work is called the investment project, and when entering into its structure the construction part - respectively, the investment construction project (COI).

Example: The life cycle of a construction project for the purpose of selling a dwelling house by the customer-developer should be defined as the time calculated by the moment of selling the finished object and obtaining permission to use the land plot for construction.