Managing project teams involves forming teams comprised of members from different groups and functions assigned to a common project. An effective project team exhibits high performance, synergy, a shared purpose, uses individual talents, and maintains a problem-solving focus. Developing high-performance teams requires recruiting qualified members, establishing clear roles and authority, decision-making processes, and managing conflict constructively. Leading project teams requires caring for both the project's and members' success through effective communication, meetings, and addressing challenges that can arise.