It's popular in the Agile world to speak of Products and their value creation and the notion that Projects are not needed for this. The notion of #NoProjects follows the same logic as #Noestimates. There are #NoPrinciples at the foundation of both these hashtags. Here's a nice summary of what is a project.
Projects Produce Products
It's that simple. When we speak of a product the fist question is how is that product development funded? Does that funding have a period of performance? Does that funding have an upper limit? If the answer to any of these is Yes then the funding for the product is finite, it's bounded.
Then ask, does the product result in a change to the environment, market, revenue stream, cost savings, anything? Yes, then the product and the project that manages those changes are connected.
Does the product participate in the execution of strategy? Yes? Then the Product is part of the Strategic Project.
The #NoProjects advocates, like the #NoEstimates advocates, fail to see both sides of how business works.
The value of any endevor cannot be determined unless the cost to acheive that value is also known. Cost and Value are inseperable.
Projects produce Products
