Project management is a collection of formal techniques for planning and controlling the activities undertaken to achieve a specific goal. Project management was developed by the U.S. military and the defense contractors that worked with the military in โhe 1950s and the 1960s to develop weapons and other large systems. Not only was defense spending increas¬ing in those years, but individual projects were becoming so large that it became impos¬sible for managers to maintain control over them without some kind of assistance.