The cost reduction programs and management approaches of the past are not enough to meet today's challenges. Meeting the demands of the fast changing environment of modern business requires a focus on priorities, better tracking techniques, and effective structures for communication. Companies need to streamline operations, reduce risk and improve overall productivity.

Project Management is one part of solution to adopt and prosper. The practitioners, consultants, teachers, authors, researchers, editors, publishers, trainers, software developers, vendors, and various project management bodies involved in project management work have started giving a thought of regarding project management as a profession with established code of conduct, standards, ethics, development and maturity models.

Project Management is simply a combination of steps and techniques for keeping overall budget and schedule in line. Project Management tools offer a way to avoid the frustration of missed deadlines, unclear expectations and budget overruns. By clearly defining responsibilities or the activities, focusing resources on specific objectives and providing a structure for communicating within and across organizational boundaries, the project management process can help anyone meet project goals and that too with least frustration.

The Project Management Toolbox for business includes manual and computerized processes that are directly applicable to improving performance and efficiency in today's organizations. It helps in integrating and linking all the important activities of the organization. Project management techniques offer proven methods for working with project teams formed across traditional, functional and organizational boundaries. It extends beyond a professional knowledge or degree and extends itself in all the organizations departments and all levels involving humans.

It shall be promoted as a core competency needed by all the personnel working in the organization so that they can successfully work in groups and help organization in achieving its goals. It is no longer a choice but a need of the hour that helps in taking steps towards a healthier organization.

Thus to conclude Project Management goes beyond professional boundaries. It consists of systems, tools, practices, principles, methods that help in managing work by those who actually perform it.