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Project Management Approach / Methodology Essay

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Project Management Methodologies
MedDev is looking to streamline their resource planning across various departments in order to support their global growth and cut costs. In order to achieve this business objective, they are undertaking ERP Implementation as a Key project which involves largest investment MedDev has ever done as a single project. Thus success of this project is of prime importance to them.
In order to achieve their business objective, project management and the used methodology are key factor which will be responsible for the success or failure of this project.
Types of Methodologies
In General, there are 2 broad approaches applied to manage projects
1) Traditional Project Management Approach / Methodology
2) Modern Project Management Approach / Methodology
Both these approaches have their own pros and cons and both are widely used across the globe and across industries. There are many factors that need to analyse before choosing which approach is most suitable for your project needs and objectives. These factors are following but not limited to
a) Complexity of the project
b) Stability of the requirements
c) Amount of expected changes as the project progresses
d) Do we want process driven or people driven focus
e) Involvement of stakeholders
f) Previous lessons learnt with similar implementation
Recommended Methodology - Factors
Based on MedDev environment and business objective, the recommended approach is to use Modern Approach. The recommendation is
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