What Is a Project Management Methodology

By Cora Systems

Modern project management is said to have begun in the 1950s when there was a drive to organise work into projects and communicate this work across a number of teams and departments. As time has moved on the means and best practice of managing projects has grown.

The lifecycle of a project tends to run over the following headings:

  • Initiation
  • Planning/ Designing
  • Execution
  • Control
  • Close

What is a Project Management Methodology?

A project management methodology is a series of repeatable methods, processes and best practices that should be followed by project managers when managing a project in order to deliver a higher rate of success. Methodologies provide project managers with a roadmap of key deliverables to ensure no tasks are missed during the course of the project. It also guarantees that the rest of the project team are reading from the same hymn sheet. The type of methodology an organisation goes with will depend on the sector that they are working within. Through its structured process a Project Management Methodology has the ability to give all projects an efficient step by step approach that can be used across all projects. It has been noted organisations that implement a project management methodology experience an average of 60% project improvement.

The key to implementing a successful project methodology is building it on your industry best practice and modifying it to fit your requirements. It is important to avoid changing your organisation to fit a project methodology. Project teams who do not follow a standardised methodology face the risk of being inefficient, which will result in higher costs, stretched schedules and increased chances of risk causing an impact.

A good project management methodology should:

  • Allow all key project stakeholders to be involved in the planning of the project
  • Ensure that each task has an fully educated individual assigned to it
  • Offers the flexibility of making improvements to the process
  • Turn complex projects into a series easily managed steps
  • Reduces the risk of project failure if it is used correctly

Established in 1999, with over 12 years of experience in Project Management Software, Cora Systems have developed a highly functional, web-based system. Our skills and knowledge have enabled us to become a world leader in Project, Portfolio and Performance Management Software. We value our extensive client base and provide a comprehensive range of services to ensure our customers gains the full value and benefits from using ProjectVision. www.corasystems.com

Article source: http://www.pmhut.com/what-is-a-project-management-methodology

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