Any series of tasks or
activities intended to accomplish a goal, which is ultimately to make a
profit. For example, a construction company may have a project to build a house. This project involves laying in the foundation, setting up the frame, installing insulation, and so forth. A company may receive a
lump sum payment at the
completion of the project, or it may receive
progress payments as different benchmarks on the way to completion are met. See also:
Project finance.