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Home > QFINANCE Dictionary > Definition of project management

Definition of

project management

General Management

management of operation and outcome of project the integration of all aspects of a project in order to ensure that the proper knowledge and resources are available when and where needed, and above all to ensure that the expected outcome is produced in a timely, cost-effective manner. The primary function of a project manager is to manage the trade-offs between performance, timeliness, and cost.

Recommended Further Reading (Term count)
  • Intellectual Capital: The New Wealth of Organizations
    Thomas A. Stewart (1997)
    The definitive guide to understanding and managing intangible assets, from the pioneer of knowledge management. Shows how theories on knowledge management are valuable to any organization that wants to improve the return on its intellectual capital. Argues that knowledge working will change the pattern of careers in the 21st century.
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    One working definition of a project would be that it is a one-off job that has a known start time, a planned end time, and an intended outcome, and that it would include a defined scope of work, a budget, and personnel assigned to carry out the work. What distinguishes a project from regular work is that it is multi-task in nature—it is not a single job repeated.This is where the Project Management Institute Body of Knowledge (PMBOK) comes to...
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    Merger success—defined as value creation—depends heavily on how well conceived the deal was to begin with. But a good outcome is even more dependent on having a well-designed and carefully implemented integration strategy. To put it simply, no deal is a good deal if management can’t make it work. Studies over the past several decades prove, however, that far too often companies lack the ability to design and execute a viable integration plan....

Definitions of ’project management’ and meaning of ’project management’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’project management’ and other financial terms with our online QFINANCE Financial Dictionary.

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