There are powerful environmental forces contributing to the rapid expansion of project management approaches to business problems and opportunities. A project is defined as a nonroutine, one-time effort limited by time, resources, and performance specifications designed to meet customer needs. One of the distinguishing characteristics of project management is that it has both a beginning and an end and typically consists of four phases: defining, planning, executing, and delivering. Effective project management begins with selecting and prioritizing projects that support the firm's mission and strategy. Successful implementation requires both technical and social skills. Project managers have to plan and budget projects as well as orchestrate the contributions of others.

There are powerful environmental forces contributing to the rapid expansion of project management approaches to business problems and opportunities. A project is defined as a nonroutine, one-time effort limited by time, resources, and performance specifications designed to meet customer needs. One of the distinguishing characteristics of project management is that it has both a beginning and an end and typically consists of four phases: defining, planning, executing, and delivering. Effective project management begins with selecting and prioritizing projects that support the firm's mission and strategy. Successful implementation requires both technical and social skills. Project managers have to plan and budget projects as well as orchestrate the contributions of others.