This paper proposes a specification for effectively defining and managing simulation projects. The specification provides a structured and ordered series of tasks that need to be completed in order for a simulation endeavor to be successful; i.e., it sets forth a set of requirements to guide a simulation project through the Project Management Institute's five phases: initiation, planning, execution, monitoring and controlling, and closing. The specification is applicable to any type of simulation, in any domain, for any purpose, and for any scale. Similarly, it can be used with any simulation software.