Understudying Project Management Lifecycle (PML) and Project Management Methodology: Need for consideration in running businesses in Nigeria
Just like climbing a ladder that is placed on a fence, the climber has to take one rung at a time before the other. And in that manner, he will reach the peak of the ladder. Same thing is applicable to project management lifecycle which presents the structure that every project should follow in order to be successful in the end. In other words, project management lifecycle (PML) can be described as a business structure that splits organisational project into five basic phases or stages as the case may be, beginning from the initiation of a business idea, to its planning, implementation, monitoring, and closing, with each phase, exhibiting its relevance just as others, and all working together to ensuring the success of the project (Project Management Institute, 2023).
Interestingly, however, the relevance of project management lifecycle to a project’s success is likely to go unnoticed without the identification and incorporation of a project management methodology (PMM), which defines the pattern, processes and strategies that would determine the best way to plan, develop, and coordinate a project to a successful completion (Ungureanu & Ungureanu, 2014). The fundamental objective of project management methodology is to ensure that the management process of a project, from decision-making techniques, problem-solving approaches, and technology usage is successful. It provides a project framework that guides the project manager through the steps and stages of the project (Kerzner, 2003).
As a component of project management methodology (PMM) which adopts the concept and ideas of project management body of knowledge (PMBOK), Project Management Lifecycle comprises five phases namely: Initiation phase, Planning phase, Execution phase, Monitoring and Controlling phase, and Closing phase. In the Initiation phase, a project business idea is birthed, defined and organised in line with project goals and expectations. In the planning phase, a project plan is crested in line with the project requirements, resources, as well as stakeholders’ objectives. In the execution phase, the project plan is implemented while in the monitoring and controlling phase, the project goals are properly supervised so as to proactively identify limitations that could hamper the progress of the project. Finally, the closing phase takes care of the completion of the project (Washington State University, 2016).
The project management methodology seems to be more impactful during the planning stage of project lifecycle. Given its role in defining the patterns that determine the best way to plan to develop, coordinate and manage all aspects of a project, PMM will equally play a significant role in splitting larger projects into smaller tasks, creating a team, and organising a framework for the completion of tasks. Furthermore, it will help in identifying project requirements, resources, schedule, costs, and aligning with deliverables so as to avoid confusion in the course of the project (Washington State University, 2016). Additionally, PMM will help formulate a project timeline for tasks to be performed, develop workflow diagrams to ensure that team members are aware of their respective roles.
In order to ensure alignment between the lifecycle of a project and the implementation of a project management methodology, it must ensure that irrespective of what project management methodology that one uses, every project must take the same project lifecycle. Also, both project management methodology and project management lifecycle should be used in engineering the common set of project management processes of projects in business organisations..
References
Kerzner, H. (2003). Advanced Project Management, Best Processes on Implementation. John Wiley & Sons.
Project Management Institute. (2023). Project Management Lifecycle. https://www.pmi.org/about/learn-about-pmi/project-management-lifecycle.
Ungureanu, A. & Ungureanu, A. (2014). Methodologies used in Project Management. https://www.researchgate.net/publication/319229966_Methodologies_used_in_project_management.
Washington State University. (2016). Project Management Methodology. https://s3.wp.wsu.edu/uploads/sites/1664/2017/08/project-management-methodology.pdf.
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