Project Management Methodologies: Reasons, Impact on Stakeholders, and Major Elements

PROJECT MANAGEMENT METHODOLOGIES
1 INTRODUCTION
This paper focuses on the learning outcomes that have been gained from the weekly
portfolios. Based on evidence the reason for which organizations should adopt project management
methodologies, impact of PMM on stakeholders, how the PMM helps an organization to meet their
objectives are elaborated in this paper.
2 COURSE LEARNING OUTCOMES
2.1 Learning Outcome 1: Explain reasons why organisations adopt Project Management
Methodologies
Summary
From the learning and outcomes I have realized that project management methodologies can
clarify the strategic planning process and can identify the best possible solution for the organization
by keeping focus on correct things. It can diminish all possible risks and internal audit issues. This
can conceptualize project development stages also. PMM is referred to as an organizational practice
that applies different principles, themes, frameworks, standards and processes to give structure to the
way through which a project can be evaluated and delivered accordingly. PMM enhances the
motivation mong the project team members for increasing the productivity. This approach can
improve the quality and work productivity by increasing the level of consumer’s satisfaction. It helps
to gain competitive advantages and measureable structured revenue. PMM can prioritize the resources
to ensure the business strategies. The issues of traditional communication also gets resolved and
replaced with open communication. Moreover, it can be said that with the help of PMM the
organizations will be able to meet the project objectives by delivering affordable product and services
to the consumers.
Evidence
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to
planning, scheduling, and controlling. John Wiley & Sons.
2.2 Learning Outcome 2: Critically analyse the impact of Project Management
Methodologies upon stakeholders
Summary
PMM is a combination of project risk management principles and project management
leadership the result can improve the stakeholder engagement to their job roles. Eventually, this is
also important for the stakeholder’s accountability. There are some critical success factors in terms of
business operation; environmental aspects, economic, cost benefit analysis etc and effective
application of these factors enhance the stakeholder’s engagement to the organizations. There are
different project management methodologies that impact the stakeholder’s analysis. The key
successes of the projects are based on the stakeholders associated to a project. Stakeholders are the