A project management methodology is defined as a system of methods, principles, and rules for managing a project. It can help organizations by standardizing processes, building a common language and understanding how to manage a project. It helps project managers reduce risks, avoid duplication of efforts and to ultimately increase the impact of the project.
A methodology provides project teams with a set of standards to initiate and manage individual projects. A methodology contains definitions, guidelines, and templates for the various project management activities needed to deliver successful projects. The methodology establishes common ground for all projects within an organization.
By adopting a project management methodology development organizations will be able to:
- Quickly adapt to new challenges and invest limited resources in the best way possible in order to achieve recurring successes.
- Build a successful project management culture that will enable the effective utilization of the project management methodology.
- Expand the skills of project managers, and give them a holistic understanding and a solid foundation to manage their projects efficiently.
- Reduce risks and increase the chances of project success.
- Increase the motivation of the project team, and increase their productivity.
- Deliver more projects on time, and within budget that meet or exceed the expectations of donors, beneficiaries and project stakeholders.
Organizations that use a standard method, have more confidence that the project is conducted in a disciplined, well-managed and consistent manner, which promotes the delivery of quality results within the constraints of time and cost.
