Project management involves planning, organizing, securing, managing, leading, and controlling resources to achieve goals. The key stages of a project include initiation, planning and design, execution and monitoring, and closing. Planning and design involves determining requirements, resourcing, planning deadlines and milestones, and defining exit criteria for phases like software development, testing, and implementation. Execution involves development, testing by separate teams, and implementation, while closing wraps up the project upon successful completion of all phases.