The abilities of transition metal species to activate P-H and P-P bonds are emerging. Such investigations provide novel M-P species, as well as stoichiometric and catalytic routes to P(III) compounds. The application of organometallic approaches and methodologies to phosphorus chemistry is providing emerging, stoichiometric and catalytic routes to phosphorus compounds and materials. This tutorial review surveys recent advances, with a focus on the activation of P-H and P-P bonds. The isolation of novel M-P species provides insight, while stoichiometric and catalytic reactivity expands the arsenal of synthetic strategies leading to P(III) compounds.