A requirement for a project is that it create a unique product, service, or result.

The PMBOK (5th edition, page 552) glossary defines a product as a

An artifact that is produced, is quantifiable, and can be either an end item in itself or a component item. Additional words for products are material and good. Contract with result. See also deliverable.

Related: project, project scope statement, prototype, final product, service, or result transition, scope

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