Essay in the subject Business economics - Business Management, Corporate Governance, language: English, abstract: This paper concretely addresses the following key questions: Why it is important to manage projects and how does project management arise and work? What is project management, what are its most important principles, tasks, and goals? What are the central roles and responsibilities of an effective project manager? What are the phases of the project management process and how to do them step by step in a company? What are the common project management methods, and how do they work? What are the pros and cons of project management in a business organization? In today's ever-changing business environment, successful companies must continually align their processes to the requirements of customers and products. Therefore, more and more companies are establishing project work and thus also project management. The more project management is anchored in organizations, the more critical to success are well-organized processes and smooth procedures. Hardly any other profession is as diverse and cross-industry as that of the project manager. This makes the project management profession one of the best-known interdisciplinary professions. Project management skills are required today in a wide variety of industries and fields of activity.