1.A Project is Temporary endeavor that produces Unique product or service in a non-repetitive way that elaborates progressively.2.Operational Works are quite opposite in nature to Projects. They are continuous, and repetitive work and never produces a uniqueproduct.3.Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet projectrequirements
A Program is group of related Projects Managed in a coordinated way. A Portfolio is group of associated Programs, Projects andother works to achieve strategic business goals. Larger Projects are divided in to more manageable sub projects5.PMO, Project Management Office or Program Management Office is an organizational structure used to oversee management of projects. It also can be used to provide reports, as a mentoring group for other project managers.6.Projectized, Matrix and Functional are different types of Organizational structures. Matrix organizations can be weak Matrix(Leaning towards functional) or Strong Matrix (leaning towards projects) or Balanced Matrix.7.Project stakeholders are individuals or units those are directly or indirectly affected by Project outcomes. Sponsors, customers,users, performing organizations, project team members and influencers are stakeholders.
At the end of each project phase, reviews against a set of metrics are performed. If the project fails to meet these metrics, theproject may not be allowed to continue. These phase end reviews are called Stage gates or Phase exits.9.Project Management process is iterative and cyclic. 4 steps in the process are "Plan", "Do", "Check", Act".