Project management is beneficial for companies because it helps them achieve specific goals within a defined timeframe and budget. It enables efficient utilization of resources and ensures that projects are completed on time and within budget. The purpose and objective of this work are to demonstrate the importance of applying PCM (Project Cycle Management) and PM2 (Project Management Squared) in project management, emphasizing the significance of communication, collaboration, planning and project execution in a consistent and effective manner. PCM is a systematic approach to project management aimed at ensuring projects are planned, implemented, and evaluated in the most effective way possible. PCM involves a series of steps that are followed in a logical sequence to ensure project success. These steps typically include project identification, formulation, implementation, and evaluation. It is commonly used in the development sector, where projects are usually directed towards addressing social, economic, and environmental issues. PM2, on the other hand, is a project management method developed by the European Commission based on the principles of the Project Management Institute (PMI) and adapted to the specific needs of the European Commission. PM2 emphasizes a holistic approach to project management, including the integration of technical, organizational, and social dimensions of the project. It is essential, because it provides a common framework and language for managing projects within the European Commission, enabling better communication and collaboration among project teams and stakeholders. Additionally, PM2 aims to increase efficiency and effectiveness in project management within the European Commission, which can lead to better project outcomes and overall success.