Project management is the science (and art) of organizing the components of a project, whether the project is development of a new product, the launch of a new service, a marketing campaign, or a wedding. A project isn’t something that’s part of normal business operations. It’s typically created once, it’s temporary, and it’s specific. As one expert notes, “It has a beginning and an end.” A project consumes resources (whether people, cash, materials, or time), and it has funding limits.

Project Management Basics

No matter what the type of project, project management typically follows the same pattern:
1. Definition
2. Planning
3. Execution
4. Control
5. Closure