The development of knowledge and technology project management reflects the impact of the use of project-based approach, which allow more effectively meet the challenges of creating value and achieve goals with limited any resources. Finding ways of further development of the theoretical foundations of project management should be motivated to models and methods of analysis of structural properties of project management, reflecting the essential features of the projects. The paper presents a conceptual model of the subject area of project managementthat integrates a system of indicators created value project, a knowledge base of best practices and lessons, external environment, incentives, controls and restrictions of the project. In addition to these components, the model has unique parts: the model of project states and basic project. Each of the elements of the conceptual model of project management has properties that make emerging integrated project management system aimed at obtaining useful results.