Project Management Methodology: These methodologies are the various manners in which projects are planned, initiated, and performed unto completion. For various industries and different kinds of projects, there are particular methodologies which can be employed.
It consists of 4-5 process groups, and a control system. In spite of the methodology or terminology employed, project management employs the same fundamental processes. Process groups usually comprise:
• Initiation
• Planning and Design
• Execution
• Monitoring and Controlling
• Closing