Project management is concerned with the overall planning and coordination of a particular project from inception to completion. It is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the project and ensure completion on time, within budget, and to the required quality standards.
Project management knowledge and practices are best described in terms of five component process groups: Initiating, Planning, Executing, Controlling, and Closing. The goal of project management is to implement projects successfully with systematic integration of technical, human and financial resources, as well as the knowledge of legal issues and limitations. Project management is now of the fastest growing career fields in business.