	Pre-project Assessments
	Project set-up
	Monitoring participating companies
	Project Management
	Project Finance
	Project Management Methodologies

Project Management Methodologies

Below are summaries of current Project Management Methodologies that are in use in both the public and the private sector to effectively run projects. More information is available on www.eutoolkit.net

Subsections 6.7, 6.8 and 6.9 feature methodologies that have been considered but deemed less suitable for European Funded projects. They are detailed here for information only.

6.1 PRINCE2
PRINCE2 is a comprehensive process based approach to project management defining the activities that will be undertaken to manage the project. PRINCE2 sets out eight core process headings to structure, eight key components to address and categorise the pressing issues, and three techniques used to implement project management best practices.

6.2 PMBOK
The Project Management Body of Knowledge (PMBOK) is an approach designed to illustrate the sum of knowledge in project management. This methodology is comprised of nine Knowledge Areas that act as component processes to address the issues that project teams will need to direct their attention to whilst segregating the different steps as the project progresses. As a result, PMBOK provides a more knowledge based approach to project management and the way it is dealt with.

6.3 Scalability
The PM Scalable Methodology is made up of a series of components, making up the areas that will need to be addressed when managing a project. To address complex project management issues, the technique of addressing scalability aims to tackle project risks in an effective and economical manner.

6.4 5 Steps
5-STEPS is a systematic methodology designed to provide a set structure of a project by creating five main process stages to complete the project. This methodology concentrates on developing a realistic schedule for a project and then subsequently managing it.

6.5 Chestra
Chestra is a Methodology Framework for the development of integrated business solutions covering all phases of system development and defining processes, work products to be created, project roles, and the tools and techniques.

6.6 IDEAL
The IDEAL model is an organisational improvement technique serving as a structured tool for initiating, planning, and implementing improvement actions, with the aim to guide organisations in planning and implementing an effective software process improvement program.

6.7 Supplementary Methodologies
Aside from the broad methodologies that are mentioned above, there are some supplementary techniques which can be used instead of, or alongside, the current individual practices. They can be used to reinforce the performance in the planning, risk management and follow-up learning stages of the project.

6.8 Planning - LogFRAME
LogFRAME is an analytical tool used to plan, monitor and evaluate projects, named because of its logical planning linkages to connect the stages of the project. It is aimed at projects with soft outputs and more abstract deliverables, and aims to provide the Project Team with essential planning information for the development of project plans.

6.9 Risk Management – Boehm’s Six Steps
Boehm’s Six Steps is a Risk Management Methodology to identify, address and eliminate potential elements of risk before they become threats to the project. It is generally used when the usually classic identification of occurrence probabilities and loss costs are too unclear to quantify.


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