In this paper, Patrick Hankinson provides a history and overview of the more popular Project Management Methodologies. Project management itself is a useful tool to help businesses cross many different disciplines and streamline their approach to projects as well as product development while increasing critical communication with their customers. It can run concurrently with the typical Project Life Cycle approach, as it encompasses the four stages: initiation, planning, execution and closure.
The advent of modern project management techniques almost 60 years ago continues to revolutionize the way that businesses achieve goals. Organizational Project Management (OPM) has created a way to effectively communicate across departments and areas of expertise while breaking down larger goals into individual projects and streamlining inefficient processes. Focusing on small projects and systematically employing the framework of a project management approach allows teams to develop a product or work toward goals while eliminating excess waste. It also provides the flexibility necessary to adjust to either business or consumer demands. After selecting the project management methodology that best suits your business and needs, identify all the components and tailor your project to these steps.
3. For more information, see Organizational Capabilities and Maturity in Project Management (2004) http://www.maxwideman.com/guests/stateofart/capabilities.htm