Project Management is the art of organizing and planning a specific, but often one-time effort. For example, to construct a building. This involves creating a project plan that includes setting goals and objectives, identifying tasks and how they will be accomplished, determining resources needed, as well as establishing budgets and time frames for completion. The project management process includes the implementation of the plan and careful control to ensure that the plan is being followed.
Project Management typically follows the major phases (with different titles for these phases), which include feasibility study, planning and implementation, as well as support/maintenance.