What are the characteristics of any projects?

According to PINTO, there are following characteristics of the projects:

• Projects are ad hoc endeavors with a clear life cycle. 
• Projects are building blocks in the design and execution of organizational strategies. 
• Projects are responsible for the newest and most imporved products, services and organizational process. 
• Projects provide a philosophy and strategy for the management of change.
• Project management entails crossing functional and organizational boundaries. 
• The traditional management functions of planning, organizing, motivation, directing and control apply to project management. 
• The principal outcomes of a project are the satisfaction of customer requirements within the constraints of technical, cost and schedule objectives.
• Projects are terminated upon successful completion of performance objectives.