Project management is the process of planning, organizing, and overseeing a project to achieve specific goals within a defined timeline and budget. It involves coordinating resources, tasks, and team members to ensure that the project is completed successfully. Key elements include setting objectives, creating schedules, and monitoring progress. Effective project management utilizes various tools and techniques to manage risks and communicate with stakeholders. It often involves phases such as initiation, planning, execution, monitoring, and closure. By following these structured steps, project managers can deliver results that meet or exceed expectations while maintaining quality and efficiency.