The document discusses the concepts of projects and project management. It defines a project as a sequence of connected activities that must be completed by a specific time, within budget, and according to specifications to achieve a particular goal. Project management is then defined as the principles and tools used to define, plan, execute, control, and complete a project. The document emphasizes that project management is important as it helps to organize one's approach, generate credible schedules, track progress, control the project, identify issues early, and save both time and money.