Project management is a methodical approach to planning and guiding project processes from start to finish. The processes are generally guided through five stages: initiation, planning, executing, controlling, and closing. Project management can be applied to almost any type of project.

Project Management is a formalised and structured method of managing change in a rigorous manner. It focuses on achieving specifically defined outputs that are to be achieved by a certain time, to a defined quality and with a given level of resources so that planned outcomes are achieved.

Project management is a carefully planned and organized effort to accomplish a specific (and usually) one-time objective, for example, construct a substation or implement a major new software system.

What does this include?

• Developing a project plan, which includes defining and confirming the project goals and objectives, identifying tasks and how goals will be achieved,
• Quantifying the resources needed, and determining budgets and timelines for completion.
• It also includes managing the implementation of the project plan, along with operating regular ‘controls’ to ensure that there is accurate and objective information on ‘performance’ relative to the plan, and the mechanisms to implement recovery actions where necessary.

There are major phases or stages (with various titles for these), during the project management cycle including feasibility, definition, project planning, implementation, evaluation and support/maintenance.