Project Management Methodologies - PROJMGNT 2001

Added on - Mar 2020

In the PROJMGNT 2001 Case study, we will discuss It is practically a set of well-set procedures or steps or principles which are required to be followed by the Project Management team to execute ant project with less risk management, cost, and schedule overrun and gain more stakeholders’ satisfaction throughout the life cycle of the project management. There are mainly five types of methodologies that are the backbone of the whole project, but the project manager needs to pick the appropriate one as per the requirement of the project.

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Project Management MethodologiesName of UniversityStudent’s nameDated:
Project Management MethodologiesTable of ContentDefinition of project methodology ..................................... 3Role of project methodology in project management ............... 3The Methodologies ....................................................... 3Methodologies related to project life cycle (PLC) ................... 5References ................................................................. 62|P a g e
Project Management MethodologiesDefinition of project methodologyIt is practically a set of well-set procedure or steps or principles which are required to befollowed by the project management team to execute ant project with less risk, cost and scheduleoverrun and gain more stakeholders’ satisfaction throughout the life cycle of the projectmanagement[ CITATION McC10 \l 1033 ].There are mainly five types of methodologies which arethe backbone of the whole project, but the project manager needs to pick the appropriate one asper the projects requirement.Role of project methodology in project managementThe proper choice of the type of methodology can fulfill all needs of stakeholders, creates acommon media of sharing information so that whole team understands their role and project’srequirement very well, always the schedule and cost estimates remain within the range. Since theprocedure remains common and well known to all members, the conflicts are minimized andmoreover the present ones are dealt at the very beginning stage of the project which reduces therework and increase the productivity along with maintaining the proper quality of the product.Even due to having all pre-set procedures, the faults or lessons learnt are also documented inwell manner at every stages of the project for future references and this continual improvementprocess continues till the end of project management life cycle. So it helps in delivering all kindof projects very effectively irrespective of its size and complexity, this way the methodologiesare closely linked with the project management.The MethodologiesThe project methodologies are in many numbers which can be applied to the particular type ofproject, but majorly the methodology is divided in two categories ‘traditional’ and ‘modern’techniques or approaches[ CITATION Kat12 \l 1033 ].But the two famous and very useful but at thesame time different in characteristics or approach of project management are the ‘Waterfall’ and‘Agile’ project management methodology[ CITATION Mar14 \l 1033 ].3|P a g e

In the conclusion, we discussed how Project Methodologies work and the role of project methodology in Project Management. We also covered some scenarios such as Waterfall Methodology and Agile Methodology.

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