Project Management Series: What is Project Management?

The term “project management” is often used in business to mean the general day to day actions associated with a project.  This is only a portion of the overarching task of project management.  Without a clear definition, projects can sometimes fail and there is not a clear reason as to why it happened. A trained project manager can add significant value to your business in addition to making sure daily tasks are completed.  A “project” doesn’t necessarily mean a contract but can be any temporary endeavors undertaken to create a unique project service or result.  Projects can be internal or external, strategic, operational, recurring, or one-time  Projects have a goal to achieve a defined business objective and align with a company’s overall business strategy.

The Project Management Body of Knowledge (PMBOK) as established by the Project Management Institute (PMI) defines project management as “the discipline of initiating, planning, executing, controlling and closing the work of a team to achieve specific goals and meet specific success criteria”. A Project Management Professional, or PMP, has studied to master the 5 process groups, 10 Knowledge Areas, and 49 processes contained therein.