This is the 232nd most frequent German word.
entwicklung
Development.
Here, "Entwicklung" is used as a noun meaning "development" or "progress."
Die Entwicklung neuer Technologien ist von großer Bedeutung.
The development of new technologies is very important.
"Entwicklung" in this sentence pertains to the advancement or evolution of a project.
Die Entwicklung des Projekts wird sorgfältig überwacht.
The development of the project is being carefully monitored.
In this context, "Entwicklung" refers to personal growth or evolution.