In this final paper, I will in detail describe the concept of project, project management and project life cycle. As an example of a project, I will discuss the example of personal choice of higher education institution, and all phases of the project life cycle to describe in detail all the stages I had to go through to choose Baltazar Polytechnic as a higher education institution that meets all my desires and needs for learning and personal development. Project management is evolving more and more and we can encounter it in every part of our lives. Its purpose is to continuously and efficiently monitor all relevant events during the process and ensure a successful process regardless of all possible risks and obstacles in the implementation of the project. In order to better understand the meaning of project management, I will try to better explain the five important phases of project management: initiation, planning, execution, supervision and control, and finally the closing of the project. In addition to the life cycle stages, I will also explain all the techniques of project management and which method is based on which way of working and decision making. In this paper, I also mentioned two very important institutions related to project management; IPMA and PMI.