What is Project Management?

Project managers are employed across practically every industry. Why? Because organizations large and small have strategic objectives, and they rely on project management to reach them.

"Every project has a beginning, an end, a budget, a schedule and a desired outcome," said Mohamad Alzuabi, a senior project manager and adjunct instructor at Southern New Hampshire University (SNHU). "Project management is the process of planning, organizing and managing work to achieve a specific goal."

Project management isn't merely a practice — it's an entire discipline that combines specialized knowledge, skills and tools to keep initiatives running smoothly.

What Are the 5 Basics of Project Management?

Every successful project goes through a 5-phase lifecycle that includes initiation, planning, execution, monitoring and controlling, and closing.

But what does that look like in practice? In his current role, Alzuabi leads a complex portfolio of projects that require strategic management. Here's how he explained the 5 basics of project management:

1. Initiation. Defining the goal and understanding what the project is trying to achieve.
2. Planning. Identifying the tasks, resources, timeline and budget needed to complete the project.
3. Execution. Completing the work and managing day-to-day activities.
4. Monitoring and controlling. Tracking schedules, costs, risks and performance to make sure the project stays on track.
5. Closing. Delivering the final product or service and reviewing lessons learned.

"At its core, project management is about helping people work together effectively to achieve a common goal," Alzuabi said.

What Exactly Does a Project Manager Do?

"Project managers are responsible for leading all aspects of projects and ensuring that the expectations and visions of customers are being met," said Dr. Zuzana Buzzell, associate dean of business at SNHU.

In practice, this means being in charge of gathering information, creating timelines, organizing meetings, allocating resources and assigning roles. Project management requires a specific set of knowledge, strategies and tools, as well as soft skills.

According to Alzuabi, some of the most important skills for project managers include:

1. Adaptability. Projects often change due to new requirements, risks or unexpected events. Project managers must be flexible and able to adjust plans when necessary.
2. Collaboration. Project managers work with people from different backgrounds and areas of expertise. Building strong relationships and encouraging teamwork are important for success.
3. Communication. Project managers must communicate with team members, customers and stakeholders. They must be able to clearly explain goals, provide updates and listen to concerns.
4. Leadership. A project manager leads and motivates the team, helps resolve conflicts and ensures everyone is working toward the same objectives.
5. Organization and planning. Successful project managers create plans, schedules, budgets and task lists to keep projects on track.
6. Problem-solving. When challenges arise, project managers must identify issues, evaluate options and make decisions to keep the project moving forward.
7. Time management. Managing deadlines and priorities is critical to completing projects on schedule.

"In simple terms, a project manager is like the conductor of an orchestra, bringing together different people, skills and resources to achieve a common goal," Alzuabi said.

Read more: What Does a Project Manager Do?

Is a Project Manager Well Paid?

Project management can be a lucrative career. According to the U.S. Bureau of Labor Statistics (BLS), project management specialists had a median annual wage of $100,750 in 2024 — that's more than twice the median annual wage for all workers the same year.*

While salaries vary across states, the industry you work in could influence how much you make as well. In May 2024, BLS reported the following highest-paying industries for project management specialists by median annual wage:

• Finance and insurance: $111,350*
• Professional, scientific and technical services: $106,130*
• Manufacturing: $101,920*
• Administrative and support services: $97,100*
• Construction: $96,700*

What Qualifications Are Required to Become a Project Manager?

While qualifications depend on the role you're looking for, a combination of higher education, certifications and hands-on experience can help you start or advance your career in project management.

Project Management Education

Entry-level roles usually require a bachelor's degree in project management or a related field. But there are many paths to becoming a project manager (PM).

"Many successful project managers have bachelor's degrees in fields such as business, engineering, information technology, healthcare, construction or communications," Alzuabi said. "Others begin their careers in technical or operational roles and later move into project management as they gain experience."

Take, for example, Gerald Pruitt '25. Wanting to grow in his career while leveraging his background as a refrigeration mechanic, Pruitt decided to earn his Bachelor of Science (BS) in Operations Management with a concentration in Project Management from SNHU. By marrying his technical knowledge and new project management skills, Pruitt showed his employer he was ready for roles in facilities management.

“I'm definitely a lot more confident in myself and my ability to lead in the business world,” Pruitt said of earning his degree.

SNHU offers a variety of online programs that can help you pivot your career or grow in your current project management role, including:

• BS in Business Administration with a concentration in Project Management
• BS in Operations Management
• BS in Technical Management
• Master of Business Administration (MBA) with a concentration in Project Management
• Master of Science (MS) in Project Management and Operations
• Graduate Certificate in Project Management

If you already have your bachelor's degree, a master's in project management or an MBA with a concentration in Project Management could help you build advanced skills. In these programs, you can expect to learn adaptable strategies in project management, supply chain management and logistics — skills Buzzell says are necessary for the modern global organization.

Project Management Certifications

Certifications can be highly valued in project management, according to BLS. Focusing on industry-recognized standards, best practices and practical skills used by project managers in the workplace, these professional credentials demonstrate knowledge and expertise in project management. Certifications are usually earned through training, work experience and passing an examination.

The Project Management Institute (PMI) offers some of the most popular project management certifications, including:

• Certified Associate in Project Management (CAPM)^®: Often a starting certification for individuals new to project management.
• Project Management Professional (PMP)^®: One of the most recognized certifications for experienced project managers.
• Program Management Professional (PgMP)^®: Designed for professionals who manage multiple related projects as part of a program.

SNHU's online programs can help you pursue some of these certifications. For example, students enrolled in the MS in Project Management and Operations program have the option to take QSO-645: Project Management for PMP^® Certification. This course offers necessary knowledge, experience and guidance while satisfying the 35 hours of project management education required to apply for the PMP^® certification exam.

As a working project manager and an instructor of QSO-645 at SNHU, Alzuabi says there's good reason to pursue both a degree and professional certifications.

"The degree provides a strong educational foundation, while certifications demonstrate specialized knowledge and commitment to the profession," Alzuabi said. "Together, they can help create more career opportunities and support professional growth."

Is a Project Manager a Stressful Job?

While the stress level of any occupation is relative, project managers do have a variety of duties to juggle. Some people may consider being responsible for planning, organizing and leading a project from start to finish — and doing so on time, in scope and on budget — stressful.

"Each step of the project can encounter unexpected changes," Buzzell said. "Project managers should be able to pivot and come up with Plan B if the original plan fails or there are too many obstacles."

When it comes to workplace stress, BLS states that project management specialists generally work in office settings, during normal business hours. But BLS also notes that, depending on the position, project management roles may require availability across time zones, travel and working more than 40 hours per week.*

Will Project Management (PM) Be Replaced by AI?

No, AI will not replace human project managers — at least not any time soon. In fact, BLS reports that employment of project management specialists is projected to grow 6% from 2024 to 2034, which is faster than the average for all occupations.*

And industry professionals like Alzuabi seem to agree. "Rather than replacing project managers, AI will help them perform their jobs more effectively," he said.

That's because AI is good at handling repetitive tasks such as creating schedules, tracking project progress, analyzing data, generating reports and identifying potential risks. And according to Alzuabi, these capabilities can help project managers save time and make better-informed decisions.

But project management is much more than the rote responsibilities of managing tasks and schedules. It's leadership, conflict resolution, negotiation, relationship building and complex decision-making — responsibilities that, according to Alzuabi, require emotional intelligence, leadership, judgment and human interaction.

So while AI won't replace project managers, project managers will increasingly use AI as a tool. And Alzuabi believes this will change how project managers work. "Project managers who learn how to use AI effectively will likely become more productive and successful because they can spend less time on administrative tasks and more time leading people and solving problems," he said.

Buzzell, who has more than 20 years of experience in higher education, says success in this role requires continuous improvement and upskilling, which may include AI-driven tools and software.

"New technologies are released daily and make the role easier," Buzzell said. "Keeping up with the advancement in the industry and being an active member of the project management community is essential."

*Cited job growth projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Actual salaries and/or earning potential may be the result of a combination of factors including, but not limited to: years of experience, industry of employment, geographic location, and worker skill.

**The Project Management Professional (PMP)^® is a registered mark of the Project Management Institute, Inc. The PMI^® Authorized Training Partner seal is a mark of the Project Management Institute, Inc.

Marissa St. Laurent is a copywriter in higher education.