Role of Methodology in Project Management †MyAssignmenthelp.com

Question: Discuss about the Role of Methodology in Project Management. Answer: Project Management Methodology Project Management methodology is a model or concept or approach which is being adopted by team members of the project irrespective of type, size and objective of the project(TutorialsPoint, 2017). It has a set of pre-defined steps or sequences of executing the project, which are required to be followed by the project manager for the proper success of the project and prevent it from any delay in time, cost overrun, additional resource requirements along with proper quality standards. Role of Methodology in Project Management Project management is a schedule of activities which are required to be followed for properly managing the project without affecting any of the three projects constraints. The methodology is analytically proven with full success rate(McConnell, 2010). It must be strictly followed by all the project managers to get a sure success in project management. It helps in taking proper and quick decisions by the project managers. The methodology helps in quick realization of the self-responsibilities by the team members. It provides a common understanding among the team and helps in managing the roles of senior management and creating effective governance and so the decisions(Naybour, 2016). Different Methodologies available There are various different approaches by which the project can be managed. So the project manager first needs to know all the methodologies for making the perfect choice among many. The different types of project management methodologies are: PRINCE2: according to this methodology, the members of board takes lead in project in place of the project manager, governance is given the higher priority for effective execution and controlling of the project(Wrike, 2017). The project manager acts as daily site coordinator. SDLC: is the traditional methodology of executing any project Waterfall: in this method the activities and the stages within the project are linked with finish to start relationship, so successor cannot start unless the predecessor activity or stage has completed fully. Agile: it depends on the people centric comments or the type of projects like IT or marketing Scrum: in this methodology the project management teams always keeps on targeting the hurdles present in the project and acts for removing them only to facilitate the smooth execution of the project PRiSM: is the approach of reducing the environmental footprint while executing the project activities Lean: according to this approach, the whole project team acts towards the common aim of reducing the number of resource utilization But it is the sole responsibility of the project team and manager to decide which approach is required to be adopted for the right type of the project, because all methodologies do not suit all projects. Two Methodologies To compare between the two methodologies, let us select the two famous methodologies Agile and Waterfall for the discussion: Agile Waterfall Advantage: for people related project which is always capable of going under changes(Palmquist, Lapham, Miller, Chick, Ozkaya, 2013) Advantage: for the projects where the resources and the cost is limited and need to be tracked throughout the project phase Disadvantage: generally there are chances of getting cost overrun for the project Disadvantage: cannot be applied for the project where the scope is not fixed since beginning Useful for: the project like IT and marketing, which requires many comments from different stakeholders to develop the final outcome Useful: for the projects where scope is rigid and confirmed from the beginning stage itself Similarity: both the approaches are derived from the same goal of achieving the quality product within the given time and cost. Both usages the same steps within the stages. Both has defined time frame to complete the stages or the project. Both the methodologies uses the approach of finalizing the scope at the very first stage of the project by conducting multiple levels of reviews. Methodologies and Project Life Cycle (PLC) The basic stages involved in the project life cycle are the initiation, planning, execution and closing and all these stages are well defined in the respective methodologies. The Agile methodology tells about organizing the high level meetings from the start and the end of each stages or steps to reorganize the requirement and plan the future execution stages for proper closing. The stakeholder management by fulfilling all the required expectations is the important stage in the project management which is being taken care in Agile and Waterfall models by arranging regular multilevel review meetings. So after all the study it can be concluded that the PLC must be executed according to any of the suitable methodology and its strictly defined steps. References McConnell, E. (2010, July 22). Project Management Methodology: Definition, Types, Examples. Retrieved August 30, 2017, from MyManagementGuide.com: https://www.mymanagementguide.com/basics/project-methodology-definition/ Naybour, P. (2016, May 24). The benefits of following a project management method. Retrieved August 30, 2017, from www.apm.org.uk: https://www.apm.org.uk/blog/the-benefits-of-following-a-project-management-method/ Palmquist, M. S., Lapham, M. A., Miller, S., Chick, T., Ozkaya, I. (2013). Parallel Worlds: Agile and Waterfall Differences and Similarities. Massachusetts: Carnegie Mellon University. TutorialsPoint. (2017). Project Management Methodologies. Retrieved August 30, 2017, from www.tutorialspoint.com: https://www.tutorialspoint.com/management_concepts/project_management_methodologies.htm Wrike. (2017). Retrieved from II. Choose Your Project Management Methodology: https://www.wrike.com/project-management-guide/methodologies/