What is a Project Management Methodology? [Video]

Project management is the key to successful projects including software development projects. You need to choose the right project management methodology for success. Read on, as we explain PM methodologies, their characteristics, and their utilities.

Project management methodologies: What they are

A project management methodology is a collection of principles, processes, methods, tools, and practices for project management. Project managers (PMs) use PM methodologies to initiate, define, plan, execute, monitor, control, and close projects. PM methodologies help PMs to deliver sustained value to all project stakeholders including customers, organizations, partners, and team members.

What a project management methodology contains

There are many PM methodologies. Their purposes and designs vary widely. Different PM methodologies contain different artifacts. However, a PM methodology should at least have the following:

• An explanation and construct of the methodology;
• A list of the essential and optional work products and deliverables;
• Guides to using the PM methodology;
• Explanations of projects that fit the methodology and projects that don’t fit;
• An explanation of essential and optional KPIs …