Project Manangement Methodology

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Project Management Methodology

Word Limit for Assignment: 3500 Actual Word Count:3027

Introduction3
1. PROJECT MANAGEMENT TO METHODOLOGY4
2. PROJECT MANAGEMENT METHODOLOGY6
METHODOLOGIES6
3. SELECTING THE RIGHT METHODOLOGY9
3.1 Project Management Body of Knowledge11
Conclusion14
Bibliography15

Project Management Methodology
1. Introduction
In this report I intend to study the art of proj ect management methodologies and what it entails and its inception. I intend to research the topic and also draw a conclusion of what I’ve learnt from it and what it means to me as a student of this particular module. The aim of this although is to get a better understanding.

Source: Prince2 2009.com

2. PROJECT MANAGEMENT TO METHODOLOGY

Project management, this could mean anything based on which context the phrase is used in but in general most of these definition are and have a few things in common to the topic. For instance, they are knowledge, skill and in some likely cases strategically based. The objective of a project is to create a new entity be it tangible or intangible. Newman et al. defined a project as “…simply a cluster of activities that is relatively separate and clear cut. Building a plant, designing a new package…a project typically has a distinct mission and a clear termination point.” The use and ability of project management has grew since its inception, it is driven by the realisation that organising work into smaller manageable clusters, communicating effectively and the coordination of all the divisions in the workplace were necessary for the success of its delivery. A project is never a small task so the break down set needs to be specifically and strategic so as it lets the project-work flow smoothly. Before the initiation of any project there needs to be clarity on this 4 areas; 1. Cost

2. Scope
3. Time required
4. Technical capabilities it will provide
5. Will the project results fit into the organisations design and execution? In the same way the way a project is managed can have an overall impact on all the deliverables of the core project so does the approach and methods they choose to initiate the life cycle of the are critical decisions. While it can be argued that effective and intelligent leadership, finance, cost and resource allocations are equally important to the life cycle, the methodology adopted can also play its own part and is equally important. After all this then the methodologies come into the picture. A methodology is a set of rules or guidelines or principles that can be tailored to a specific situation (Wideman, 2005). Understanding project management methodologies is essential for companies in order to implement projects, not only just for the implementation but also for the planning and evaluation of them. Rigorous application of project management methodologies are responsible for most of the project success we see in todays’ environment. It has emerged because the characteristics of our late 20th century society demand the development of new methods of management Meredith & Mantel (1995). 3. PROJECT MANAGEMENT METHODOLOGY

Constantly the term “methodologies” are misinterpreted for “standard”, there are very big differences between the two. While the two can be used in relation to project management only methodology is best suited to the action involved as it is a prescriptive way of approaching a subject, a standard on the other hand is a framework on what needs to be done, a methodology is a step-by-step approach on how to do the work. Understanding project management methodologies is essential for companies in order to implement projects, not only just for the implementation but also for the planning and evaluation of them. A methodology is a set of approaches, and practises carried continuously in order for project delivery....
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