A project is a temporary endeavor with a defined start and end, undertaken to create a unique product, service, or result -- unlike ongoing operations, which are repetitive and continuous. Every project moves through five phases: initiation (defining the project and its goals), planning (mapping out scope, schedule, and budget), execution (doing the work), monitoring and controlling (tracking progress and adjusting), and closing (delivering the final result and documenting lessons learned). The project manager's core job is to balance three constraints -- scope, time, and cost (often called the 'triple constraint') -- while keeping stakeholders informed and the team focused. This module introduces that framework so you can recognize where any project you join or lead currently stands.