Benefits of using a Project Management Methodology

Have you ever wondered why you use a project management methodology? It’s possible that you haven’t given it much thought, as your department may mandate it, and you follow the processes because they are generally effective and required.

Nonetheless, this is the type of inquiry that researchers find fascinating. Dr. Hany Wells of the University of Hertfordshire Business School has studied the advantages of various project management methodologies. Since methodologies are frequently proprietary, the research does not provide much information on the specific approaches being examined (except for PRINCE2, which is mentioned), but the findings are still applicable.

Using a project management methodology provides several benefits, including:

1. Improved project planning: A project management methodology provides a structured approach to planning, ensuring that all necessary activities are identified and scheduled. This results in better time and resource management, reducing the risk of delays and budget overruns.
2. Increased collaboration: A project management methodology encourages collaboration between team members, stakeholders, and customers. This improves communication and fosters a culture of teamwork, leading to more successful project outcomes.
3. Better risk management: A project management methodology helps identify potential risks and issues that could impact the project’s success. This allows the project team to develop contingency plans and mitigate risks before they become significant problems.
4. Clearer objectives and goals: A project management methodology provides a framework for setting clear objectives and goals, helping team members understand their roles and responsibilities. This creates a sense of accountability and ownership, resulting in better project outcomes.
5. Improved quality: A project management methodology includes quality assurance and control measures, ensuring that the project deliverables meet the required standards. This leads to higher-quality outcomes and more satisfied stakeholders.
6. Enhanced project monitoring and control: A project management methodology provides a set of tools and techniques for monitoring and controlling the project’s progress. This allows the project team to identify any variances from the plan and take corrective action to keep the project on track.

Overall, using a project management methodology helps ensure that projects are completed on time, within budget, and to the required quality standards.