Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. It is the practice of leading the work of a team to achieve goals and meet success criteria at a specified time. The primary challenge of project management is to achieve all of the project goals within the given constraints.
Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the end result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs.