In short, customization of methodologies is necessary for the successful completion of projects.
The usage of appropriate methodology would help the project manager to complete the projects in time. Moreover, it helps the project manager to reduce unnecessary costs and increase the profit earned from the project. Delay in the completion of the project would cause big loss to the company since the raw material prices may go up as time goes on. Proper methodologies would help the project manager to complete the project within the allocated budget. One of the major disadvantages of project management methodologies is the lack of innovation in methodologies. In other words, while sticking with a particular methodology, project managers may not get opportunities to explore new ways of completing the project in a more efficient manner.
There are different types of project management methodologies. Waterfall is one of the most commonly used project management methodologies across the world. It employs a sequential, top-down approach to project management. “It assumes that a project is finite with a definite beginning and end. that projects need to be managed to be successful. and that the events affecting the project are predictable. In addition, with this traditional methodology, once a phase is finished it is thought that it will not be revisited” (Mitchell 23)
Q1 The following was the defined mission statement for the ODA “To deliver venues, facilities, infrastructure and transport on time for the London 2012 Olympic and Paralympic Games that are fit-for-purpose and in a way that maximises the delivery of a sustainable legacy within the available budget”. Discuss using Suitable academic theory and information from the Olympic document, how this mission statement was then used to define the programme and project objectives.