Project Management Concepts are the methods and practices used by organizational leaders to effectively launch, manage and close out projects in a timely and cost-effective manner. This process involves setting-up a clear goal or objective, assessing what needs to be done to reach that end, selecting the most suitable resources to facilitate the completion of the task, coordinating with stakeholders to ensure everyone is on the same page, and systematically tracking the progress of the project until its fruition. In short, project management concepts allow for streamlined planning, execution, and delivery of projects ensuring a successful outcome every time.