What is your project?...Really?

In an interview with the Wall Street Journal on Thursday, HP CEO Meg Whitman nailed it: 

"I want to be able to answer the question what is H-P very crisply."

In our work with global corporations in the Fortune 500, we are continually amazed by how hard it is for leaders of large projects to, in Whitman's word, crisply explain what their project is and the value it brings to the company. Questions to help you be able to crisply define your project should consider:

• Can you explain what the project is in a 1 minute conversation with your CEO?  If not, why not?
• Can your core team explain what the project is in a 1 minute conversation with their teams?  If not, why not?
• Can any member of your project team explain what the project is in a 1 minute conversation with their peers?  If not, why not?
• What specifically does "done" look like?  Do all stakeholders know that and agree to it?