Project management is a process of leading a team of capable people
in planning and implementing a series of related activities that need to
be accomplished on a specific date with a limited budget. Because of
its nature, coordinating all these activities requires a process
approach.

Because many times development project take on unexplored
territory, assumptions about the project must be listed, evaluated, its
risks assessed and contingency plans developed. It also requires a
close monitoring of the budget, scope and schedule to deliver the
project objectives under the expected quality. Each one of these
elements needs to be managed in a systematic manner with the
development of plans to identify the roles and resources needed.
There is also the complexity of development projects that require a
different approach and a new way at managing the limited resources
and the increasing demands from all stakeholders. To manage this
complexity the project needs to be de-constructed into manageable,
interrelated parts; or processes, by separating the project into
different management process the project manager has a better
chance to control the outcomes of the project and manage the
challenges that can never be fully predicted during its design.

Read more at the original document from pm4dev

More readingin from pm4dev:

• PM4DEV – The Roles Responsibilities and Skills of Project Managers

• PM4DEV – The Project Managment Processes
• PM4DEV – The Project Management Cycle
• PM4DEV – Project Scope Management
• PM4DEV – Project Schedule Management