Management is the activity in an organisation and the coordination of business in order to achieve defined objectives and goals that manages and controls resources (people, money, time, technology, procedure, etc.) efficiently and effectively. The Management includes to develop team objectives and goals, set up detailed execution plan and procedures, and coordinate with internal and external parties. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). The Management is also an academic discipline, a social science whose objective is to study social organisation.
Reference Definition by ISO: The term management refers to all the activities that are used to coordinate, direct, and control organizations. These activities include developing policies, setting objectives, and establishing processes to achieve these objectives. In this context, the term management does not refer to people.
Related Definitions in the Project: The Project Management; Engineering; Procurement; Construction
