Project Management Methodologies are the formal, documented processes and practices used to manage and control projects. These methodologies provide a structure that organizes and optimizes the project team’s activities. They also serve as a set of guidelines to ensure that all project phases, from conception to completion, are completed successfully. Project Management Methodologies are based on the best practices of experienced project managers and can be tailored to the specific needs of each individual project.
The two most commonly used methodologies are the Waterfall and Agile methodologies. The Waterfall methodology is a sequential, linear process wherein each phase of the project must be completed before the next phase can begin. The Agile methodology is an iterative, incremental process that allows for changes in scope and project requirements as the project progresses.
Project Management Methodologies ensure that all project objectives are met within the allotted