Project management involves managing temporary endeavors to achieve unique goals. It entails coordinating resources like people, materials, and budgets according to a plan to meet objectives on time and within scope and cost constraints. The document discusses that a project has a definite start and end, brings change, and results in a unique outcome. It also notes that project management applies knowledge and techniques to project activities to fulfill requirements. Examples of different levels of project management provided are group-level projects like an SAP implementation and capital improvement projects at a site level. Benefits outlined are stakeholder buy-in, managing expectations, effective communication, and planning.