Project management is the application of knowledge, skills, tools, and techniques to meet client requirements. A formal project management approach encompasses a number of areas to include:
Integration Management – Managing a project's processes and activities to combine and coordinate with other project process and activities. Integration management starts at the beginning of the project and is integral throughout the project lifecycle until close-out.
Scope Management – Defines the work to be performed in the execution of a project.
Time Management – Defines the schedule for project completion taking in to account specific actions required to achieve project deliverables.
Cost Management – Creates a means estimate and control costs in order to complete a project within budget.
Quality Management – A component of project management that serves as a framework to guide toward improved performance. A comprehensive quality management program addresses human factors such as customer focus, leadership and stakeholder involvement, as well as workflow factors such as process approach, and continuous process improvement.
Human Resource Management – A critical component of project management that includes the processes of organizing, managing and leading the project team. Effective human resource management ensures all members of the team are cognizant of their role and the role other play on the project team.
Risk Management – Identifies positive and negative effects uncertain events or conditions have on a contract, and the strategy employed to address the event/condition.