Project management is a structured approach to planning, executing, and closing projects efficiently while meeting specific goals and criteria. It involves several key services, including risk management, which identifies and mitigates potential project threats to ensure smooth progress. Resource management is another critical service, ensuring the optimal allocation and use of people, equipment, and budget throughout the project's lifecycle. Effective project management also includes project approval processes, where stakeholders review and authorize project plans, timelines, and budgets before execution, ensuring alignment with organizational goals.

Stakeholder management is another essential aspect of project management, involving the identification, engagement, and communication with individuals or groups impacted by the project. This service ensures that all stakeholders, including clients, team members, and sponsors, are kept informed and involved at every project phase. Proper stakeholder management helps avoid conflicts, ensures expectations are aligned, and promotes collaboration, which is crucial for project success. Through these services, project management provides a framework to deliver projects on time, within scope, and on budget.