What is project management? A project is a temporary endeavor undertaken to achieve a particular aim and to which project management can be applied, regardless of the project’s size, budget, or timeline.

As defined in the 2000 edition of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), project management is the application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project.

The phrase “project management” began to emerge in the late 1950s and early 1960s when the size, scope, duration, and resources required for new projects began to deserve more analysis and attention.

Today, project management is used globally by multi-billion-dollar corporations, governments, and smaller organizations alike as a means of meeting their customers’ or constituents’ needs by both standardizing and reducing the basic tasks necessary to complete a project in the most effective and efficient manner. As a result, project management leadership is a highly desirable and sought-after skill as intense global competition demands that new projects and business development be completed on time and within budget.

Project management is comprised of five processes:

1.	Initiating
2.	Planning
3.	Executing
4.	Controlling
5.	Closing

Project Integration	Project Cost	Project Communications
Project Scope	Project Quality	Project Risk Management
Project Time	Project Human Resources	Project Procurement

Those areas are divided into 39 component processes: