We are seeing a trend in IT project management methodologies : the need for projects to be smaller and faster. Gone are the days of the multi-year, beaucoup dollars, cast of hundreds kind of project. Rather than planning a huge project from start to finish before holding the “kickoff meeting,” CIOs need to fly with shorter projects which keep the customer on top. There is a need to learn to manage unknowns until they are known. There is also a need for speed in project management methodologies. CIOs must adapt their IT project management methodologies while still limiting risks and taking care of business problems.
Project management is still a methodical approach to planning and guiding project processes from start to finish. What’s different now is that the five stages of IT project management methodologies (as defined by the Project Management Institute) — initiation, planning, executing, controlling and closing — need to be applied to smaller projects. These projects have to make a quick difference for the business, because speed is now a competitive weapon for the company. So, CIOs are adapting agile methodologies for projects companywide and considering cloud-based project collaboration tools.