A methodology of project management or a project management methodology can simply be defined as the method by which you manage a project. Everyone uses a project management methodology, it’s just that many project managers change their methodology on each project. Here’s the question I’d like to answer: What’s the benefit of a standardized project management methodology in the first place?
I would suggest that a standardized methodology provides the following four primary benefits:
- Collective knowledge
- Greater predictability
- Capability maturity
- Reduced stress
Now, I know that last one is hard to swallow since many people think of a project management methodology as a source of added stress via the requirement of added documentation; however, I would suggest that a well-documented methodology reduces stress because you never have to ask, "What do I do next?" You have inputs, processes and outputs. The methodology of project management should indicate the source of the inputs. Next, it should state what you will do with those inputs (the processes). Finally, it will provide you with forms or templates that you fill out as a result of the processes (outputs).
With the last benefit covered first, let’s go back to the first listed benefit: collective knowledge. There are many things in life that we trust. For example, we trust that it really is safer to wear our seatbelts than to drive without them (at least I haven’t done actual research myself). This is collective knowledge. A documented project management methodology provides the same benefits. If you use a template that was created out of experience and education, you will reap the benefits of using that template whether you know it or not. This, in a nutshell, is the benefit of collective knowledge.
The second stated benefit was greater predictability. Since you are using established inputs, processes and outputs, you can predict with greater certainty how your project will go based on how it starts. Additionally, you can look at the project at any point in the lifecycle and make estimates as to the outcome using established and mature processes.
That last statement leads me to the third and final benefit (since I covered stress reduction first): capability maturity. A solid methodology of project management will be maturable. It will include a lessons learned process at the end of the project that may be used to mature or improve the methodology. This increases the "capability" of the project management methodology to meet the needs of your organization.
My suggestion is that you do not start from scratch. You can use PMI best practices as a starting point or another model like The Systems Education Company’s Method 4D methodology. However, no matter the starting point, you will reap these benefits and more if you begin to use a methodology and then mature that methodology over time.
