In business administration, project management is the discipline that studies planning, organization, motivation, and resource control for the purpose of achieving one or more objectives. A project is a temporary venture designed to produce a single product, service or result with a defined beginning and end (usually limited in time, costs and/or deliverables), which is undertaken to achieve unique goals and that will result in positive change or add value.

The conception of this term has evolved over the last few decades, while the process, methods and strategies that are carried out for its effective execution have been transformed. These changes are, in turn, promoted by globalization, technical advances or consumption habits, to which companies must adapt quickly if they want to achieve established goals, survive and remain competitive. According to the Project Management Institute (PMI) project management is "applying knowledge, skills, tools and techniques to project activities to meet project requirements." Some of the peculiarities that determine this process, such as the elements involved or their dynamic nature, can be inferred from its definition.

Project management features

1. Management is exercised by a person, the project manager. In any project direction, there is a person responsible for applying knowledge, skills, tools and techniques. This person would be the project manager, who must possess a number of basic skills and competencies in this field. The project manager will be in charge of managing the projects to achieve the proposed goals. This director must also align the project to business strategy. Leadership and the ability to effectively manage projects should be one of the qualities that every project manager must possess.

2. Act on projects. Projects are the set of activities that have been planned to achieve the desired results. Results that can be translated as products or services. These projects are temporary, that is, they have a specific beginning and end, and are gradually developed, completing each of the stages that make up the process.

3. Aimed at achieving specific objectives. Project management pursues the achievement of specific objectives, established above. Project planning and implementation, as well as management, should focus on this purpose.

4. Every project is limited by scope, time and costs. Every project depends on these three factors that are interrelated to each other. Customer-imposed requirements, lead times, and the total project budget and cost are factors that must be managed to achieve goals without affecting quality.

5.La project management consists of various types of processes, actions and interrelated activities. Thus, you can differentiate between product or service-oriented processes and the processes common to all projects, where the initiation, planning, execution, tracking and control process groups, and the closing process group are integrated. These groups are related, since the output of one process becomes the input of the next.

6. Project management is based on areas of knowledge. Management processes are organized into nine areas of knowledge, which the project manager must master and manage in an integrated way:

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

7. It's a dynamic process. Project management is a dynamic and changing process in which actions are constantly related and influenced.  Processes depend on the nature of the project, the characteristics and circumstances of the environment, and the demands and needs of customers. They are constantly changing, adapting to social, political, economic and technological changes, to meet demands efficiently.

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