The management of projects involves many things. Capabilities, Requirements, Development, Staffing, Budgeting, Procurement, Accounting, Testing, Security, Deployment, Maintenance, Training, Support, Sales and Marketing, and other development and operational processes. Each of these has interdependencies with other elements. Each operates in its own specific ways on the project. Almost all have behaviors described by probabilistic model driven by the underlying statistical processes.
Management in this sense is control in the presence of these probabilistic processes. And yes we can control these items - it's a well developed process, starting with Statistical Process Control, Monte Carlo Simulation of resulting, Bayesian Networks, Probabilistic Real Options and other methods based on probabilistic processes.
The notion that are not controllable is at its heart flawed and essentially misinformed. But this control requires information. It's been mentioned before about Closed Loop Control, Closed Loop versus Open Loop, Staying on Plan Means Closed Loop Control, Use and Misuse of Control Systems, and Why Project Management is a Control System.
All these lead to Five Immutable Principles of Project Success. Along with these Principles, comes Practices, and Processes. But it's the Principles we're after as a start.
We can make estimates from the data or models in some probabilistically informed manner. This is the role of estimating. To inform our decision making processes in the presence of uncertainty of possible future outcomes, knowing something about the past and present state of the system under management.
... provide needed capabilities to those paying for the project to meet some business goal or fulfill a mission strategy. To accomplish some beneficial outcome in exchange for the cost and time invested in development of the capabilities.
Without these estimates, we have no signal needed to take corrective.We have an Open Loop Control system. A system that takes any path it wants, it has no control mechanism to keep it on track.The open loop control system is a non-feedback system in which the control input to the system is determined using only the current state of the system and a model of the system. There is no feedback to determine if the system is achieving the desired output based on the reference input or set point. The system does not observe itself to correct itself and, as such, is more prone to errors and cannot compensate for disturbances to the system.This means we're going to get what we're going to get, with no chance to steer the system toward our desired outcome.