Project management principles are the fundamental concepts and processes used to guide project management activities. These principles involve planning, scheduling, budgeting and managing resources to ensure that a project is completed on time, within budget and to the expected quality standards. The three core project management principles are scope, time and cost. Scope determines the tasks that need to be completed, the timeline for completing them, and the resources required. Time management ensures that the tasks are completed within the allotted time frame and cost management involves setting a budget and ensuring that the project is completed within budget. In addition to these principles, there are other principles such as risk management, quality management, communication management, resource management and stakeholder management. Risk management involves identifying, analyzing and acting upon risks that may impact the project. Quality management involves ensuring that the project meets the specified quality standards. Communication management involves ensuring that information is exchanged between all stakeholders