Project Management is the discipline of planning, executing, and overseeing projects to achieve specific goals within predefined constraints such as time, budget, and resources. It involves the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Effective project management ensures the alignment of project objectives with organizational strategies, facilitating efficient workflow and collaborative efforts among team members. Key components include project initiation, planning, execution, monitoring, and closure, along with methodologies such as Agile, Scrum, and Waterfall that help manage project lifecycles in various industries.