A summary

Projects are a way of working toward obtaining goals in an uncertain environment. Uncertainties are unavoidable and can present both risks (negative event) and opportunities (positive event). When a plan meets reality, one needs to evaluate the situation and many times adjust the plan according to the new preconditions.

Overall, project management implies the balancing of three constraints: Cost limits, time limits and scope (including requirements and specifications). These three constraints are many times illustrated in the form of a triangle, i.e. the project management triangle (sometimes also called the iron triangle).