Project management can be defined as the discipline of applying 

specific processes and

principles to initiate, plan, execute and manage the way that new initiatives or changes are
implemented within an organization

An important element in project management

First, Strategic Business Alignment
Strategic Business Alignment can ensure that what is being delivered is right, and will deliver
real value in business opportunities.
Second, Set Goals and Objectives
Project Management can ensure that appropriate plans are made to implement strategic goals.
Third, Risk Control
Risk Control can ensure the proper management and mitigation of risk and avoid problems.
Fourth, Continuous Improvement
Project Management will be tracking the project's progress and reporting properly.

Critical path is the longest sequence of tasks that must be completed to successfully conclude
a project, from start to finish

The critical path method (CPM) is a scheduling method that permits a network diagram to
depict a project and the sequences of tasks required to complete it, known as paths. Once the
paths are defined, a system requires the duration of each path to identify the critical path,
which determines the total duration of the project.