Project management is the application of knowledge , skills, tools and techniques to project activities to meet project requirements. Project management is accomplished through the use of the processes such as : initiating, planning, executing, controlling and closing. The project team manages the work of the projects and the work typically involves:
- Competing demands for : Scope, time, cost, risk and quality
- Stakeholders with differing needs and expectations
- Identified requirements
It is important to note that many of the processes within project management are iterative in nature. This is in part due to the existence of and the necessity for progressive elaboration in a project throughout the project cycle; i.e., the more you know about your project , the better you are able to manage it.