Project management – standard for today´s modern company

Project management is one of the most popular tool in the companies in today´s competitive environment. There are many successful companies, in which the project management has the key position. Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. Project management is accomplished with the processes such as initiating, planning, executing, controlling, and closing. The project team manages the work of the projects, and the work typically involves competing demands, stakeholders with differing needs and expectations and identified requirements. It is important to note that many of the processes within project management are iterative in nature. This is in part due to the existence of and the necessity for progressive elaboration in a project throughout the project life cycle.