In the industries that have traditionally relied on project management to achieve results, industries such as construction and aviation, project teams are expected--at a minimum--to achieve outcomes that meet outlined time and cost targets. This article features the senior program manager for Honeywell Aerospace (Phoenix, AZ, USA) discussing how project management enables his organization to meet the aerospace industry's expected levels of project performance. In doing so, it explains why Honeywell must practice project management and how the company's practice enables its project teams to meet project targets while also providing them with the structure they need to develop innovative project solutions. It describes how project management has helped Honeywell maintain its fiscal health during the current economic downturn. It then identifies the most valuable lessons that the author has learned from using a structured approach to manage complex aerospace projects.