Raizcorp Functional Entrepreneurship | Page 38

Defining Project Management Project management​ , is defined as the application of knowledge, skills, tools, and techniques to project activities in order to meet the project necessities. Project management has been practiced informally for the longest period, but has materialized as a distinct vocation in the mid-20th century. Project management processes fall into five groups: 1. 2. 3. 4. 5. Initiating Planning Executing Monitoring and Controlling Closing