Professional and successful project management contributes to developing new ideas, both in the private sector and in public administration and municipalities. To achieve the objective pursued by 23 TODAY’S ECONOMIC, MANAGEMENT, LEGAL CHALLENGES AND THEIR POSSIBLE SOLUTIONS the project, it is essential to establish fundamental values that should be respected throughout the process. Fundamental values in projects may vary and may differ from the sector in which the project is being implemented to the target of the project, the implementing methods. However, there are some fundamental values that the author would like to highlight: development and growth, fairness and objectivity, equality, initiative and creativity, accountability, honesty, moderation, diligence, and solidarity. Successful progress of the project depends on both the appropriately selected management method and on the competence, motivation, project team, cooperation between stakeholders, well-defined objectives and the resulting in substantiated activities, as well as the core values that are respected throughout the project management procedure. The article examines the purpose of project management, explores methods and values of project implementation.