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International project management can be broken down into project, management and international management which all have their specific characteristics and definitions. To gain an overview of the topic of projects, their management and the international application a compendium of the theoretical principles is given in the following. 1.1 Project A project is defined as an undertaking, which is unique, risky and has a complex structure as well as limited resources. The Project Management Institute (2008) has determined that a project is “a temporary endeavour undertaken to create a unique product, service, or result” (p.442). Additionally, every project has to be carried out in a specific time period with a defined starting point and deadline (Rinza, 1998; Köster, 2010). Furthermore, it has its own set of objectives and a limited amount of budget (Graham, 1985; Köster, 2010). Since projects are aside from the routine work in an organization and their aim is to create something new they involve high uncertainty and some elements of change . Besides, the uniqueness of each project prevents that the members of the project team can rely on experiences or cooperate knowledge (Young, 2007). Another characteristic of a project is that the undertaking is structured in subtasks and carried out by an interdisciplinary collaboration of specialists, for more information see chapter 2.1 (Meier, 2004). Meredith and Mantel (2012) point out that it is important that everyone involved in the project sees it as a unit. Moreover, they claim that the top management has to consider the importance to set up a project management to accomplish the undertaking. International projects share the same characteristics as national projects but the complexi... ... middle of paper ... ...04). More details to challenges of the international project management are given in chapter four. Despite the hardship of international project management its advantages outweigh the disadvantages. For example the diverse project team can draw on multicultural experiences, a large pool of diverse information and a range of different approaches to resolve problems (S.C. Certo and S.T. Certo, 2009). Also, an advantage can be that several companies cooperate in order to accomplish a project together because they are alone not capable (Cronenbroeck, 2004). Additionally, if the diversity factors, like creativity styles, problem–solving-styles, technology preferences, values or ethics, are understood the performance can be improved as well as the quality of decision-making and the penetration of diverse markets (Jackson and Tylor, 2008; S.C. Certo and S.T. Certo, 2009).

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