Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals.
A project is a temporary endeavor with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations), which are repetitive, permanent, or semi-permanent functional activities to produce products or services.
In practice, the management of these two systems is often quite different, and as such requires the development of distinct technical skills and management strategies. The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived constraints. Typical constraints are scope, time, and budget.
The secondary—and more ambitious—challenge is to optimize the allocation and integrate the inputs necessary to meet pre-defined objectives. The phases of project management are as given below; Initiation phase Planning phase Executing phase Monitoring phase Closing phase