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Hey, great question. First, we have objectives within the boundaries of the project, focused on getting the project done. These are project objectives and project goals, often measured through key performance indicators like time, cost, and scope. Then, we have objectives outside the project boundaries, usually after the project is completed. These things - tangible and/or intangible describe the long-term goals of doing the project -- why the project exists in the first place. These things are the business value the project creates. So we can call this business value lots of things: business value, ROI, the project product, management horizon, and whatever term the organization wants to assign to the result of the project. It really depends on what the project's purpose (mission and vision) is as to what these "things" created by the project should be called. For example, a house created through a project could be deemed a product, a financial ROI, an environmental change, or goodwill for the neighborhood - it all depends and must align with the organizational vision, purpose, and strategy. Projects exist for two reasons: to increase revenue or reduce costs. For practical purposes, we usually call the end result of the project a product, and its effect is the business value. Hope that helps!

​@@instructingcom Hi Joseph, Thanks for your good reply. We are in perfect agreement on the project objectives. For the positive effects that take place after the project has been completed (or sometimes during the later stages of the execution of the project), I have used the term "effect goals". This would be an umbrella term or generic term for business value, ROI, increased revenue, profit etc. But I have not found anyone else using it. But I think "effect goals" describe the concept pretty well. I think it is also good to make a stringent distinction between the project objectives and the effect goals because the PM is reponsible for ensuring the project objectives are met, while it is the receiving organization that is responsible for ensuring that the effect goals are met. BR Peter

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