What Is Project Management? Tips, Methods, and Tools to Get Started

Effective project management keeps everything on track, on budget, and aligned with your goals. But managing a project from start to finish takes a lot of coordination. The right tools can make all the difference—helping your team stay organized, connected, and on schedule.

Let’s take a closer look: what is project management? And how can an effective project management process and the right tools set up your team for success?

Key takeaways

• Project management is essential to keep projects on time, on budget, and within the original scope and objectives.
• There’s no one-size-fits-all methodology. Project managers can choose from different project management methodologies like Agile, Waterfall, Critical Path Method, and Six Sigma, depending on their needs, project type, and flexibility requirements.
• Key roles in project management include the project sponsor, project manager, team members, and stakeholders.
• Project management tools like Slack reduce friction by integrating productivity tools and centralizing communication and task management.

 

What is project management?

Project management is the process of guiding a team to achieve specific goals within set constraints—like time, scope, and budget—using clear communication, defined roles, and organized workflows. Project managers are the people who keep everyone on the same page: They talk to stakeholders about the project’s purpose, key details, budget, and timeline, and they keep the team informed about what’s coming next.

During the planning phase, project managers lay out a roadmap for the project. They organize tasks, assign them to team members, and then make sure everything flows smoothly. They also keep watch for any emerging roadblocks or bottlenecks—and find solutions to keep the project on track.

Project management can be used for any type of project, from marketing campaigns and product launches to onboarding new hires.

Key roles of project management

• Project sponsor. This is a senior leader in a company who initiates and champions the project. A project sponsor sets the vision and secures resources for the project. While they aren’t typically involved in day-to-day operations, they provide high-level support, approvals, and internal advocacy throughout the project lifecycle. They also can address barriers or resource constraints that exceed the project manager’s authority.
• Project manager. This is the person responsible for planning, executing, and delivering the project. They’re the axis around which the entire project revolves. They delegate tasks, communicate progress and deadlines, and make sure the project’s objectives, deliverables, and timelines are met. To do their job effectively, project managers often call on project management software to provide training and support, enter tasks, configure dependencies, communicate with team members, and report progress. In some cases, they may be responsible for selecting a project management solution.
• Team members. These individual contributors provide specialty expertise to move a project forward. Examples include software developers, designers, copywriters, and QA testers. Team members collaborate and contribute functional or technical knowledge that gives shape to a project.
• Stakeholders. This refers to anyone with a vested interest in the project who isn’t directly involved in project development. They could be internal (department heads, senior leaders, HR) or external (users, partners, community members). Teams should engage stakeholders to influence a project’s success through feedback and support.
• Resource manager. This is the person who allocates and manages resources across projects, assigning people, tools, and budget. A resource manager can step in to address resource conflicts when necessary.

Why is project management important?

Poor project management can lead to delays, scope creep, budget overruns, and, in the worst case, failure. One study by BCG found that two-thirds of major tech projects fail, costing companies an average of $22 million a year. That number hasn’t budged in a decade. Conversely, companies that manage projects efficiently usually see positive results—fast. Because they can pivot to new customer demands quickly, these businesses gain a competitive edge.

A successful project manager ensures a project:

• Moves forward efficiently
• Makes the best use of resources
• Addresses risk
• Stays within scope and budget
• Facilitates collaboration
• Manages stakeholder expectations
• Adapts to changing circumstances
• Aligns with organizational goals

Project management is the glue that holds everything together. It requires regular communication between team members, project managers, and stakeholders.

Let’s explore a few common methods for implementing a strong workflow.

9 project management methods to know

To lead a project to success, companies often use one or more project management methods. Let’s break down some of the most popular project management methodologies so you can find one that best supports your team’s needs.

Waterfall

The Waterfall approach is one of the oldest, most established project management methods. This model has clear, sequential project phases with well-defined requirements. Members of the project team simply complete each task in order, checking them off in a linear fashion.

This method is great for projects with fixed deliverables and scope. But it doesn’t handle unexpected changes as well as other methods. You might use the Waterfall method for a big construction project, like a bridge or skyscraper.

Critical Path Method (CPM)

If your timeline is a high priority, the Critical Path Method might be for you. Created in the 1950s, CPM is one of the earliest project management methods.

This approach maps and manages key tasks that may affect the project timeline and sets their expected durations. It suits complex projects with interdependent, time-bound tasks. You might use CPM to organize a large manufacturing project and make sure it’s completed on time.

Program Evaluation and Review Technique (PERT)

When a project’s timeline is a moving target, a method like PERT comes in handy. A project manager and their team can use PERT to assign three time estimates to each task: “optimistic,” “pessimistic,” and “most likely.” Taking the weighted average of all the project’s tasks—not just those on the critical path—a project manager can generate a reliable timeline.

The PERT method is often used in combination with CPM. For example, a project manager might apply the three time estimates to tasks on the critical path. The team then has a more realistic view of the timeline based on the most important pieces of the project. PERT is often used in research and development (R&D) scenarios where timelines are fluid and uncertain.

Six Sigma

Six Sigma is a popular choice when quality is a top priority. Designed to improve manufacturing quality by minimizing defects and process variations, this method relies on statistical analysis and quality management. Its goal is to boost efficiency, cut costs, and improve customer satisfaction. It may require forming a skilled internal team.

The term Six Sigma does not refer to the number of phases, but rather a process that’s so well-defined it leaves little room for error. Six Sigma actually has five phases: Define, Measure, Analyze, Improve, and Control (DMAIC). This method is great for manufacturing. But it also can improve processes in healthcare, finance, and IT.

Lean Project Management

When efficiency is the goal, consider Lean Project Management. The purpose of the lean approach is to cut down on waste and add value during each project phase. This method helps project managers and their teams spot and remove unnecessary elements to deliver the best product possible.

Lean Project Management began in Japan’s manufacturing industry. It emphasizes continuous improvement, or kaizen. A startup might find the Lean Project Management method useful for completing a software project on a tight deadline with limited resources.

Agile

The Agile method is great for flexible project management. Unlike Waterfall’s fixed approach, Agile is adaptable. It organizes a project into several phases, called sprints. After each sprint, the team syncs up to discuss how things went and apply what they’ve learned to the next sprint. This method helps a team quickly respond to change and fosters a spirit of continual improvement.

Several Agile frameworks, including Scrum and Kanban, are in use today. According to Project Management Institute, 24.6 percent of companies use an Agile approach, while 76 percent expect to increase their use of Agile over the next five years.

Agile principles for teams are a good choice if you’re developing a mobile app and rolling out new features in batches. After each feature release, review the process with your team. Then make changes and improvements based on your learnings.

Scrum

Scrum promotes close collaboration in small teams. It uses short sprints—a few weeks long—to produce a deliverable. A scrum master is usually in charge. This person runs daily meetings, conducts demos, oversees sprints, and facilitates sprint recaps. Scrum also has other defined roles, including the product owner and development team. It’s often used for ongoing product development at tech companies.

Kanban

Kanban (“signboard” in Japanese) is a visual approach to project management. It uses visual boards with cards and columns. They help teams manage workflows and visualize progress. Everyone can see completed and pending tasks, when they’re due, and who’s responsible. This way, teams stay focused on the most important tasks and can identify bottlenecks. Teams often use Kanban-based software to manage these visual elements. This framework works especially well for managing a remote customer support team.

PRINCE2

PRINCE2 (Projects In Controlled Environments) is a great choice for highly structured projects. Using a Waterfall approach, PRINCE2 divides a project into controlled and manageable stages. It emphasizes business justification, creates a clear organizational structure, and streamlines individual project tasks for maximum efficiency. PRINCE2 is mostly seen in government settings, but some enterprises use it, too. You might pick PRINCE2 for a large government IT project that requires a structured approach with clearly defined roles and responsibilities.

Project management tools and process

To oversee work, project managers often use project management software like Trello, Jira Cloud, Asana, Miro, and Notion. If you use a comprehensive work operating system like Slack, project management integrations ensure processes run even more smoothly. By keeping all details in one place, you avoid context-switching, save teams time, and help everyone stay organized.

Let’s examine how Slack facilitates three core aspects of the project management process:

• Collaboration. In Slack, you can add team members to a project channel where everyone can talk, share, and collaborate, regardless of location. For quick communication, huddles let you instantly chat with others. For deeper team collaboration, you can turn on video, share your screen, message, and share files. To connect with your team without a real-time meeting, record a clip to quickly share updates, progress, and feedback.
• Tracking. You can easily track and organize your projects with lists in Slack. Teams can use lists to manage project tasks, prioritize work, monitor progress, and hold members accountable.
• Organization. Slack helps your team stay organized during a project. Canvases are one tool you can use to collect, manage, and share project info in a single workspace. And with Workflow Builder, you can automate everyday processes to make the most of your time.

To save time, start with a project management template like Slack’s free project tracker or project management starter kit.

The five stages of project management

A go-to source for project managers, the Project Management Body of Knowledge (PMBOK), outlines five common project phases:

• Initiation
• Planning
• Execution
• Monitoring and controlling
• Closing

Depending on your project management method, various stages may overlap or repeat during the project’s lifecycle. Some project management methods, like Agile and PRINCE2, may have extra stages not listed here.

Initiation

The initiation stage is where it all begins, so it’s important to set clear goals and objectives for your project. A BCG study found that clarity on business objective and scope was the No. 1 factor in project management success. It’s critical to define the project scope so everyone is aligned.

During this stage, project managers have conversations with stakeholders to get clarity on the project’s purpose and identify its key components, including goals, phases, and deliverables.

After those initial discussions, the project manager usually puts together a project charter or summary. This document gives everyone on the team a clear picture of the project and their specific roles. The charter typically identifies the project manager, stakeholders, targets, and responsibilities.

Using Slack canvases can be a great way to keep everything organized in one spot, making it easy for the whole team to access important documents and stay on the same page.

Planning

A plan ensures everyone knows their role in a project and how to help bring it to life.

Our research found that 29 percent of projects are not being delivered on time in 2025—up from 26 percent in 2024. And companies struggling with project management cite timeline and resource planning as their No. 1 pain point inhibiting success.

To boost a project’s chances of success, including on-time, on-budget completion, it’s important to consider any risks, potential delays, and other issues during the planning stage. Extra time and care spent now pays off in efficiency as the project progresses.

Questions to consider during planning include:

• What do we need to complete this project on time and within budget?
• What are the risks involved in this project?
• Who will work on this project, and what resources do they need?
• What are the key milestones, and what tasks are required to complete them?
• What are the success criteria for this project?

Teams can use a project channel in Slack to track all conversations, ideas, and decisions.

Execution

Work begins in the execution stage. The project manager assigns resources and manages vendor relationships, and each member works on their assigned tasks in the project plan.

Lists in Slack help teams track their progress, and workflow automation can streamline task-related processes. Project managers should hold regular team meetings and provide stakeholder status updates to keep everyone informed about progress.

Project channels are a great way to send weekly project recaps—including files—to both stakeholders and internal teams.

Monitoring and controlling

Throughout the project, the project manager oversees everyone’s work to stay on schedule. They should minimize delays, scope changes, and handle any necessary budget adjustments. At this stage, teams may heavily rely on task management tools and methods to find and fix any problems or risks. The project manager should also track their team’s progress against KPIs as each milestone approaches.

Close collaboration is essential during this stage. Tools like huddles, which let members meet virtually, are useful for discussing progress or connecting on urgent issues. Clips are a great option for asynchronous status updates and feedback.

Closing

In the closing stage, team members finish their tasks and deliver the final product or service to the client. Once delivered, and pending approval, the team can consider the project complete.

Project managers will usually review the project against its KPIs, assessing what went well and identifying areas for improvement. They may also hold a wrap-up or “lessons learned” meeting as part of this process so the team can share their experiences and feedback.

It’s important to document, save, and share all project components with necessary stakeholders. To make things easier for everyone, you can use Slack’s app integrations to share files in various formats.

Project management in action

Here’s how one leading ecommerce platform, serving more than 13 million customers, used Slack to revamp its IT project management across 1,700 engineers and developers.

Previously, the company’s project updates and communications were fragmented across email and various tools, making it time-consuming to find information and creating inconsistencies across multiple sources of truth.

Now, the company uses Slack to keep everyone involved in a project aligned. They create a canvas to serve as a dashboard and a delegation hub for each project. With this single source of information, team members no longer need to dig through SharePoint, Excel, or email for progress updates. They also use a canvas for onboarding workflows and to run metrics. Team members can connect live in huddles with all the relevant information right in front of them.

Slack also streamlined communication through searchable channels that make it easy to find information and receive quick support from multiple people.

The result of this streamlined project management? The company estimates it has saved 30,000 hours a year.

The future of project management

The way we work is evolving, and so are project management techniques. The Project Management Institute’s Pulse of the Profession 2024 report says organizations are now using flexible, fit-for-purpose project delivery practices. This shift comes as businesses face new challenges in the aftermath of the pandemic and a push for digital transformation.

Remote and hybrid work also has changed how and where projects get done. With 61 percent of project managers working at least partially remotely, they need the right tools to stay on track from anywhere.

In addition, AI for project management is transforming how teams plan, track, and execute work. AI tools can reduce manual workloads by scheduling meetings, summarizing conversations, and flagging potential delays or bottlenecks through predictive analytics. With the right approach, AI can become a powerful partner to help project managers focus on strategy instead of admin and make better decisions.

For teams exploring AI in project management, it’s essential to select tools that integrate with existing workflows, support future scalability, and provide training to ease adoption.

Drive business success with better project management

Good project management improves your business outcomes. It leads to clear communication, efficiency, and a faster path to project completion. Without it, projects may stall, go over budget, or fail. Proper planning, the right strategies, and helpful collaboration tools can keep your projects on track. They also help your team remain nimble and responsive to changing customer demands. As your organization improves at project management, you may even find it gives you a competitive edge. With the right tools and methods, you can confidently manage your next project from start to finish.

FAQs

What is a project manager vs. program manager?

A project manager is responsible for planning and executing specific projects, delivering defined outcomes within a set timeline and budget. By contrast, a program manager oversees multiple related projects that align with broader business goals. They ensure projects work together to meet larger goals, manage dependencies between projects, and guide strategic outcomes.

In Salesforce, for example, a project manager might lead the implementation of a new CRM, while a program manager may introduce campaigns to use the CRM to increase repeat sales and customer satisfaction.

What’s the difference between project management and project management software?

While project management describes the process of planning and executing projects within set constraints, project management software describes the tool that facilitates that process.

For example, a team uses project management software as a reference point to store important tasks, information, and deadlines. Team members can manually enter project updates or use automation to advance workflows—for example, reassigning a task from one person to another or alerting the project manager when a task is overdue.

Can small teams use formal project management?

Some small teams and businesses may not use project management because they assign work verbally or get progress reports informally. However, a formalized project management approach can improve communication, boost productivity, and reduce time spent on manual tasks for small teams.

Teams using Slack for project management found that their team worked 35 percent faster and were 47 percent more productive, with a 338 percent ROI. Nine in 10 said they felt more connected to their teams and saw improved communication with Slack project management.

How do you become a project manager?

Companies look for a combination of project management skills, experience, and education when hiring a project manager. According to Zippia, 83 percent of project managers hold a bachelor’s degree or higher. While some job-seekers hold business management degrees, project managers can come from a variety of backgrounds.

Project management is a challenging, complex, and high-paced career with high earning potential. To break in, you need to demonstrate essential project management skills, including project scoping, risk assessment, people management, communication, and reporting.

Some employers look for project management certificates like Project Management Professional (PMP), Certified Scrum Master (CSM), or Six Sigma Green Belt. Internships and entry-level business experience also can help candidates land a project manager job. Demonstrating your experience managing tasks and teams—even on a small scale—will position you well for a leap into project management.

Ready to manage projects more effectively?

• Learn from the pros with effective project management tips.
• Compare tools with our project management software guide.
• Introduce automation with AI tips for project management.
• Start managing projects with a project starter kit template.