Analysis of the Available Project Management Methodologies

Abstract

The paper is an analysis of the available project management methodologies from the standpoint of their applicability. Our aim is to establish specific characteristics of the today available methodologies (PMS, APM, PRINCE2, YUPMA, etc.) that can ensure realistic foundations on which an adequate methodology for a certain group of similar projects can be defined. The use of an adequate project management methodology brings a numerous advantages and benefits to project manager and project team and it shows them the right route towards project completion. This paper gives a review of the most recognizable methodologies proposed and implemented in the project management practice. Specific features of these methodologies were analysed bearing in mind the possibilities of implementation. It was found that general characteristics of traditional methodologies (PMI, IPMA, APM,YUPMA) make them more adequate to be implemented in larger and more complex projects such as: investment, military, manufacturing, overhaul, etc. projects. On the other hand, general characteristics of agile methodologies lead to a conclusion that these methodologies are more suitable to use for IT projects as well as for some smaller and less complex projects, such as devising various studies, project reports, etc. The research presented in this paper should be treated as a basis for further research oriented towards defining specific methodologies adequate for certain groups of similar projects.