Project Management: The different Methodologies on how to manage Projects of private and public Institutions

Abstract

The following text focuses on the differences between Project Management methodologies and activities in private companies and public institutions. The approaches are described with examples and explanations. The report is the outcome of researching and analysing different sources, on how procedures and techniques are used to control and manage the process of a project. It provides explanations of common methodologies suitable for different circumstances. Project management describes way processes, skills, communication, documentation and information are handled to run a project. with limitations like time, budget, legal backgrounds, etc. Therefore, the ability to manage a project, in which every involved party agrees with the result, is a key task for a company’s daily business. But not only companies need to manage projects. The idea to standardise a procedure does not have to be aimed only on maximizing the profit. That’s why nearly every organisation uses project management methodologies to improve the projects they are working on.