Project Management is the process of creating structure and a foundation to a temporary and unique endeavor that produces an objective. That objective is a product, service, or result. A temporary and unique endeavor that creates an end product, service, or a result is called a project. Projects, also referred to as initiatives, are inherently temporary without structure.
In business, established operations are in place to produce a service or product to sell to a customer. The established operations are processes. Those processes have been stood up, put in place, and adjusted to make them more efficient.
A process is made up of three components, which are inputs, tools & techniques, and outputs. An example is making a wooden table. The wood is the input, the saw to cut the wood is the tools and techniques are used to assemble the wood. The output is a wooden table.
For a project which is temporary by nature, processes need to be stood up, put in place, and adjusted to make them more efficient. To do all of this, you need project management. Fortunately, since projects have been around since the beginning of time, project management principles have been established, tested, modified, and practiced. These principles are used to bring methods together to create methodologies for initiating, planning, executing, controlling & monitoring, and closing projects.