Project management, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

It has always been practiced informally, but began to emerge as a distinct profession in the mid-20th century. PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide) identifies its recurring elements:

Project management processes fall into five groups:

• Initiating
• Planning
• Executing
• Monitoring and Controlling
• Closing

Project management knowledge draws on ten areas:

Integration	Scope	Time
Cost	Quality	Procurement
Human resources	Communications	Risk management
Stakeholder management

 

All management is concerned with these, of course. But project management brings a unique focus shaped by the goals, resources and schedule of each project. The value of that focus is proved by the rapid, worldwide growth of project management: