Which of the following best explains project management?

Project management is best described as the process of planning, executing, and ending projects in an efficient manner because it encompasses the entire lifecycle of a project. This includes defining project goals, developing a detailed plan, organizing resources, coordinating tasks, and monitoring progress to ensure that objectives are met within the set constraints of time, budget, and quality. Effective project management ensures that projects are executed smoothly and that outcomes align with the initial goals and the needs of stakeholders.

While yearly budgeting is an important aspect of an organization’s financial management, it does not encompass the full scope of project management, which is more focused on specific projects rather than ongoing financial planning. Similarly, creating marketing plans and managing customer relations are specialized areas that involve different skills and processes that are not central to the broader, structured approach of project management. Each of those tasks may be part of a project, but they do not define the comprehensive nature of project management as a discipline.