What are the top project management methodologies?

IT Project Management Methodologies

• Answer:

  The information technology business is highly competitive. A company is only as good as its latest piece of software or hardware, and many of those products seem to be obsolete within months of entering the marketplace. The constant pursuit of better technology is a major expense for any information technology business, and having a solid project management methodology in place can help with that pursuit. The Facts A project methodology is a set of repeatable processes designed to build quality application systems. The methodology consists of four basic components: guidelines, techniques, tools and templates. Guidelines are specific steps necessary for product development and usually contain recommendations. Techniques are the detailed process descriptions of the activities needed for completing the project. Tools in the information technology realm generally include items such as hardware and software. The tools section should be very specific regarding software type and version. Templates usually consist of items such as checklists and tip sheets. Function A project methodology helps ensure that the developed product meets all the specifications and standards set forth in the preliminary design analysis. A methodology makes it easier for management to make long-range planning goals in relation to employee resources and helps identify the skill set needed by employees for certain parts of the process. Types A project management methodology for an information technology business should provide a varied process structure to provide support for the many product offerings of the business. Some examples of products requiring varied process structure include client/server application, legacy systems development, migration planning, interfacing and bridging of systems and Internet-based projects. Benefits There are major benefits to using a project management methodology. Some of those benefits include advanced knowledge of the specific product to be developed, adherence to original design specifications for the product, high-quality results, increases in productivity, improvements in communication, minimization of cost and time overruns and up-to-the-moment details of the exact stage of the project. Potential While many businesses have already experienced the enormous benefits of using a project management methodology, some are still resistant to adopting such strategies. Common reasons for avoidance include a change in routine, the effort and discipline required to follow a methodology and the initial cost of time and resources for developing the methodology. However, businesses that understand the advantages of using a project management methodology are more likely to be successful over time and will have a better capability of staying abreast of an ever-changing market.