Project Management is the term coined for the set of activities and processes performed to execute a task outsourced by one party to another party.
It not only ensures the high probability of success for the project but involves an efficient utilization of the resources of the company involved in the completing a project.
Project management methodologies were drafted to layout the different ways in which a project can be executed successfully, depending upon the requirements of that particular project.
In the software industry, various methodologies like,

• Extreme Programming or XP
• Feature Driven Development or FDD
• Rapid Application Development or RAD etc.
  

are practiced for executing procedures in a way that the project is completed defined in these methodologies for successful completion of a project in a more productive and profitable manner.
Cloud, as we all know has been one of the greatest innovations in technology industry for optimizing the resource utilization within an enterprise.
Different types of services, according to the requirements of the customers, are provided which can be scaled up and down as the need changes.
As we can clearly identify that Resource optimization is a "connecting string" between the two disparate concepts.
Merging or making use of cloud services in project management practices can introduce various changes in the methods of executing a project.
Following could be the implications of involving cloud in project management:

• Speeds up the process: As cloud services are available on the go, project management can be heavily effected with its presence.
  If the procedures are aligned properly, cloud can influence the speed of process execution with improved results and outputs.
  With cloud, project managers can monitor and act without delay because of real-time information availability which further speeds up their processes.
  
• Resource Management: The centralized nature of cloud allows the allocation and release of resources with the most recent information and status update so as to optimize the utilization.
  This helps to maintain the cost of resource utilization whether it's a human, or machine resource.
  
• Integration Management: Different processes can be integrated to form a collaborative approach for performing on projects using cloud services.
  Cloud-based software can be used for the purpose of mapping and integrating different processes for improving the efficiency of the system.
  

The Cloud platform basically smoothens the processes of a project management strategy in order to make the approach more productive and efficient in terms of quality of service for the customer and the revenue generation for the organization.