A project is a temporary and one-time endeavor undertaken to create a unique product, process or service. A project must have a defined start and end. A successful project will bring about beneficial change or added value that supports an organization's strategy.

Project Management is the discipline of organizing and managing resources (i.e. money, people, materials, energy, space, provisions, communication, etc.). Project Management includes all project phases including planning, implementation, controlling and status reporting. The project management process strives to complete each project within the defined scope, quality, time and cost constraints.

The primary challenge for project teams is to effectively complete all assigned projects based on their defined project scope. The second, more ambitious project team challenge is to efficiently complete all assigned projects within the budgeted resources and time constraints. The Project Manager's role is to oversee all aspects of their assigned projects to make sure the project team is successful.

Project Management is not the same as Strategy Execution. Project Management is project centric, whereas Strategy Execution is associate centric. Successfully completing disparate project initiatives is most effectively achieved with good Project Management. Simultaneously achieving associate level accountability for timely completion of disparate project tasks is achieved with good Strategy Execution. Project Management and Strategy Execution used together will achieve the perfect balance between project centric responsibility and performance centric accountability.