Increasingly, companies are turning to project-based work in order to forecast expenditures and drive specific timelines. Projects typically involve the completion of one or more deliverables (usually something tangible such as a document to be completed and delivered to a customer) that may be associated with a milestone (a significant event during the course of a project). In general, the purpose of a project is to change something in a way that will grow or improve a business or organization. Projects typically differ from normal day to day operations processes such as accounting, manufacturing, or customer services.
- Deliverables-based engagement
- Independent of hours worked
- Typically segmented into milestones
- Includes committed start and end dates
There are, however, numerous examples of project based work that blur the line between projects and operations. Examples such as: support services that vary due to unexpected surges in requests, on-demand requirements in the medical field and required recertification of equipment in the oil industry. These items will utilize project-based engagements in order to control and forecast costs.
Pelican Projects categorizes project-based work in vertical market specialties. Over the next few months, you will see additional vertical markets supported as we grow these specialized fields.