Project management refers to overseeing all of the different projects or initiatives of a company and monitoring their progress and completion," says Ethan Wasserman, partner and project manager at Clutch Maven, a Florida-based marketing company.Specific duties in this position can be extremely widespread, as it is applicable to nearly every industry. Wasserman says project managers are usually overseeing new initiatives such as launching a new product line for a retail company or developing a website. Project managers are accountable for the success or failure of the project they are assigned.Though they are not doing the work directly, they must possess some degree of knowledge regarding all aspects of their respective projects. It's their job to keep a pulse on the progress of each project, ensuring all team members are sticking to the budget and timeline.