A business project is classified by content or purpose. Business
projects are intended to achieve defined business objectives and are aligned
with a company’s business strategy.
Business projects can be called many different names, such as
internal projects, administrative projects, or functional projects. It’s
important to note that all projects, regardless of type, must meet certain
criteria to be considered projects. The primary two requirements are that they
are both temporary and unique. This means they have a defined end date and
are not repeatable, ongoing tasks.
Three types of business projects
There are three main types of business projects a company can
- Strategic projects: These are focused on achieving a
high-level business strategy. For example, a company may determine its
marketing strategy is to offer the lowest-priced option. To achieve this, they
may launch a project to create a process for analyzing market prices and
lowering their prices accordingly.
- Operational projects: These projects are not
tied to the overall strategy but taken on to meet some type of business
objective. Upgrading a software system to the latest version could be an
- Recurring projects: Recurring projects happen regularly, but
still must be unique and temporary. A good example is technology development
projects. If you have a cell phone, it is likely part of a numbered series such
as the Samsung Galaxy 9 or Apple iPhone 8. Releases come out every year, or
even twice a year, meaning the project to upgrade a phone is recurring.
However, each version has a defined release date and unique functionality or
SystemX Business Management Platform is an all in one, cloud based platform that
serves as the backbone and the brain function of all businesses. All modules
combined can give business owners, project and operations managers all the tools
to manage projects, time sheets, orders, invoices, and document signing in one easy
to manage system and keep all personnel in an organization connected.