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The purpose of this paper is to review the main components of project management, and show how they apply to an increasingly complex economy. The technological irruption of the last thirty years has promoted innovation and progressiveness. Project management enables the installment of innovation and has developed as an honorable career path and an increasingly desired position. This paper overviews ·the natural phases of a project as established by the Project Management Institute and argues that success of a project is dependent upon structure and planning. In addition, this paper will highlight keys to reducing failure, the importance of embracing technology in the construction field, and personal experiences that shed light into the day-to-day activities of a project manager.