The Importance Of Project Management Methodologies

Project Management Methodologies are a sequence of diverse procedures designed to support project managers and team members. The purpose of using these methodologies in project management is to complete the tasks involved in the project faster and with strategies in place to handle issues when they arise. It leads the team throughout the project and delivers steps to follow and targets to achieve during the project lifetime.

Below analyzed are some of the popular project management methodologies used by organizations:  Agile

This method tries to provide rapid, continuous delivery of product to the customers. Unlike traditional methodologies such as the Waterfall, where the outcome is similar to what described in the start, with Agile there is no clearly defined end product at the

Critics of this methodology consider that it is not receptive enough to alterations in project, and that communicating problems down the line is not efficient.

 PRINCE2 (PRojects IN Controlled Environments)

PRINCE2 is both a methodology and a de facto standard that is widely used by the UK government. It is widely known and used in the private sector in the UK as well as internationally. It is a process-based methodology for the planning, management and control of projects. This methodology has three elements, which come together to create the environment relevant for delivery of projects: processes, components and techniques. The processes are at the heart of the methodology and provide step-by-step guidance to managing projects. The methodology concentrates on what management activities should be undertaken and at which point in the project lifecycle they should be undertaken. In most of the projects, the details of how these actions should be carried out are left to the experiences of the project manager and team. Key features of PRINCE2 are as follows:

PROJECT MANAGEMENT 11 o Focus on business justification o Distinct organization formation for the project management