What is Project Management?
Project management is the discipline of initiating, planning, executing, monitoring, and closing projects using structured principles, techniques, and tools to ensure timely, budget-conscious delivery. It involves coordinating people, resources, and processes to achieve defined goals while managing risks, scope, and stakeholder expectations.
According to the Project Management Body of Knowledge (PMBOK Guide), project management processes fall into five categories: initiating, planning, executing, monitoring and controlling, and closing. These processes often overlap rather than follow a strict sequence, as real-world projects require flexibility and adaptability.
At the core of effective project management is a dedicated, high-performing team whose combined efforts turn plans into results. By providing structure and clear accountability, project management improves efficiency, reduces errors, and increases the likelihood of delivering successful outcomes – even in complex or fast-changing environments.
