Thinkstock Project management is a complex discipline rife with enough key phases, knowledge areas, and terms to fill a glossary. To simplify the key components of successful project management, CIO.com offers the following comprehensive guide to project management, including tips, strategies and best practices. Project management definition Project management is a business discipline that involves applying specific processes, knowledge, skills, techniques and tools to meet project goals and deliverables successfully. Project management professionals help drive, guide, and execute company-identified value-added goals by applying processes and methodologies to plan, initiate, execute, monitor, and close all activities related to a given business project in alignment with the organization’s overall strategic objectives.