Project Methodology

Project Methodology is critical to the success of any project. There are several methodologies, Waterfall, Agile, SAFe, etc., being used to manage projects today. Project Management Institute (PMI), a nonprofit professional organization for project management has formalized and documented the process of managing projects.

*9.9% of every dollar is wasted due to poor project performance— that’s $99 million for every $1 billion invested
(*Source: 2018 Pulse of the Profession®)

Project Management

Project management is the practice of leading the work of a team to achieve goals and meet success criteria at a specified time.

Following a well defined plan and methodology along with senior management backing and prioritization are major factors to ensure successful completion of projects...but not without collaboration, team work, organization change management, and communication.

Despite conventional wisdom project management is an art as much as it is a science.

Project Management Myths

Here are a few commonly held myths about Project Management.

Myth: Hiring a qualified Project Manager should be sufficient to get the project completed

Reality: Project Manager along with Business Analyst(s), IT resource(s), Subject Matter Experts (SMEs), are just a few of the many resources needed depending on the size and complexity of the project. Bottom line is Project Manager can't single handily complete a project. It is a team effort and must be viewed as such and given the priority.  

Myth: Projects do not need Project Sponsors

Reality: According to the PMI Project Management Body of Knowledge (PMBOK), the project sponsor is “a person or group who provides resources and support for the project, program or portfolio for enabling success.” Without this visible support project is bound to fail. It is the Project sponsor who owns the project on behalf of the client organization. Project sponsors enable the project to succeed by removing the hurdles and providing the support environment whereas project manager is concerned with delivering a project as defined by the sponsor. Project Sponsor and Project Manager work very closely together in a symbiotic relationship ensuring both will succeed.

Myth: Projects do not have end dates

Reality: According to the PMI PMBOK (Project Management Body of Knowledge), a project is defined as a “temporary endeavor with a beginning and an end and it must be used to create a unique product, service or result”. Any activity that does not have an end date would be considered part of ongoing operations.