Herein we will define a “project” as anything with a beginning and an end (time), a goal (outcome(s)), and resources (human and capital). Project Management (PM) involves the organization of (activities in) time, money, and people. Money is a commodity, meaning that one dollar can be easily substituted for another dollar. In contrast, sometimes a specific person in a specific role is truly irreplaceable. Sometimes, many people can perform a role equally well. Typically, having great people – even if they are not literally uniquely suited for the role – makes the difference between failure and success. Time is often thought of as commodity, but is better considered unique and irreplaceable. While one second may have similarity to the next, we cannot trade one for the other. In biotech, most often we will happily trade money for time.