A term project is a business-focused task or activity that has a specific duration and end goal. It is typically completed by an individual or team of employees in order to help accomplish a larger organizational objective. Although the timeline and objectives are usually very specific (and often quite challenging), these projects offer organizations the opportunity to develop new processes, expand their knowledge base, and build relationships within the company. Term projects also provide employees with an engaging and rewarding experience as they work towards a common goal.