That however can hardly be the case. When we speak of projects, we are speaking of elements within a whole. These elements cannot be discrete, but have to in some way or the other complement each other for the fulfillment of the general objective of development and growth of the organization.
Adopting a more holistic view, an organization is concerned with overall business development that would necessitate what has been termed as Business Management. Classical Business Management emerged at the very beginning of the 20th Century. Project Management, on the other hand, was viewed almost independent of Business Management and was expected to provide the most effective and efficient means of producing the deliverables that a project was intended for. The Classical Model of Project Management which started somewhere in the fifties and sixties of the 20th Century, was primarily conceived to plan and control the timelines and costs for large projects in the aeronautical and construction industries. This model basically defined the logical sequences of different activities involved in the project along with the time, cost and other resources that each activity would require.
Thus, Business Management and Project Management were viewed as distinct disciplines, or in other words, the business and the projects were thought to be disparate entities within the same organization.
However, the 1980s heralded the unprecedented development of Information and Communication Technology opening up new channels of communication and new avenues for business on a world-wide scale. Changes swept over all sectors of activities, including businesses. Globalization broke down many conventional barriers, markets were de-regulated, a new market-driven economy emerged, and business organizations began to face global competition. The shelf life of products and services began to grow shorter and shorter, some times expiring even before the products