The project management is a highly complex process. For this reason, we are not very satisfied with the current often intuitive description of such project management process. Therefore, we must use something more accurate and advanced. In our work we propose to describe the whole project process by standard process diagrams and other graphically oriented methods preferentially based on the well known UML standard. Furthermore, we very suggest using ICT and KM tools with in order to increase the efficiency of the project management process in its entirety