On Stephen Dean's blog Ramblings of a Techie he recently did an entry on Production Management. It is interesting to read the blog as he is in Australia, and thus has a different point of view.
Thus, you will note that all of the things he lists aren't the same here - for instance in many cases the PM supervises the TD or Properties Master who creates a budget or organizes the props. We often add in more global management - working on next years season planning for instance. I think it is part of the challange with theatre is that the same term means different things even within the US, but even more so across international boundaries!