Selecting a project management methodology for the organization to adopt can be a difficult and confusing process. Decision makers must take the time to compare popular project management methods, choosing one that best fits project needs, thereby increasing the chance of success for the project.

Understanding Project Management Methodologies

A project management methodology can be defined as a framework or set of guidelines that provide techniques and principles to help define, structure, organize, plan, monitor and control projects in organizations.

A project management methodology is not:

Additional Benefits of Adopting a PM Methodology Reduced risk of project failure Increased efficiency/productivity Improved quality Improved communications Shortened project schedules Reduced project costs Increased flexibility on project execution Improved customer support Ability to fast-track projects Predictability

• A silver bullet
• A development framework
• A project plan template

The Benefits of Adopting a Project Management Methodology

By following a structured approach to project management, project managers significantly reduce the risk of project failure and increase the chances for project success.

Adopting a formal project methodology addresses, and corrects, common project faults with which ad hoc or unstructured projects are often plagued. Providing a best practice framework is the strongest defense for project managers who want to avoid critical project mistakes, reduce risk, meet project deadlines, catch and correct errors early, and avoid excess and unnecessary documentation.

Popular Project Management Methodologies

There is no one-size-fits-all project methodology. In fact, to be effective, most project managers have found that a methodology must be modified and tailored to suit the particular needs of the organization and/or the project. Table 1 lists and provides a description of some of the more popular project management methodologies.

Table 1. Methods and Descriptions
Source: Info-Tech Research Group

Project Management Method	Description
PRINCE2	PRojects IN Controlled Environments. Project management methodology originally developed in 1989 for the UK government. Has been adopted as a standard IT project management methodology in non-government organizations throughout the world. Most common project management method used in the UK and Europe. Generally geared towards IS/IT projects. Scalable to projects of all sizes.
PMBOK	Created, owned and maintained by the Project Management Institute (PMI). Internationally recognized as the de facto project management standard (i.e. IEEE, ANSI). Deals with the application of project knowledge, skills, tools and techniques to meet typical project requirements. Defines project management best practices and is intended to be applicable to any project regardless of the SDLC or product methodology used. While not strictly a methodology it provides sufficient process information for enterprises to create their own.
TenStep	Owned by TenStep Inc. which specializes in methodology development, training and consulting. The TenStep Project Management program is a licensed group of classes, with access to a Web site with resource materials, and access to project management templates. Project management methodology is licensed to companies and individuals around the world. The company’s flagship product is the TenStep Project Management Process (www.TenStep.com), which has been licensed to over 850 companies and individuals.
Bates Project Management Methodology	Over the last thirty years, the Bates PM Method has been used across hundreds of organizations managing projects of all sizes, ranging from facilities to information technology to restructuring to marketing. The methodology is structured to provide the requisite management techniques and processes from project selection through to project close-out, from both a corporate and individual project perspective. The tools and techniques provided in the Bates PM Method provide the structure needed to get consistent results and the flexibility to adapt to organizational cultures.

Tailor the Methodology to the Organization

Project management methodologies are not designed to be used exactly as they stand. A project management methodology alone does not provide the steps necessary to state how all projects should operate. It’s a best fit situation. Instead, a project management methodology provides project managers guidance on what the sensible and pragmatic approach to successfully managing projects should be. Project methods should always be a help to managing the project and not a hindrance for project success.

Bottom Line

Selecting the best project management methodology is an important decision for any organization. Adopting the wrong method can be disastrous for projects. Take the time to understand the importance of project management methodologies and become familiar with popular project methods to increase the chances for project success.