The official business definition of Project Concept is a proposed solution to a business problem. It is a high-level description of the project, including the scope, objectives, and expected deliverables. It is an initial document that outlines the purpose, goals, and objectives of a project, and can be used as a guide in determining the scope of the project and any associated milestones. The project concept should also include a timeline, budget, and any other necessary information. It should be used as a tool to determine if the project should be pursued, and if so, what the necessary steps are to do so. The project concept should be reviewed and approved by all stakeholders in order to ensure that everyone involved understands the project’s purpose, objectives, and expected outcomes. Once approved, the project concept serves as a reference guide throughout the project’s duration. By having a clear definition of