Why Project Management methodology is important for big projects?

I tend to think of project managers as long term event coordinators. They organize the event's budget, the itinerary, direct the performances and maintain communication between the various trades and banks associated. They take care of the launch of the project and tighten up the the finishing threads towards completion. Without them, trades could end up working at off times, not communicate with eachother, charge more than what would be budgeted (if even discussed) and possible damage the whole project or run it bankrupt. 

Without Project management , the project would be like a bus without a driver .

There is no better streamlined and proven method to manage task , resource , time and cost . 

Fundamentally to save TIME, money and ENERGY in acheiving an objective

The primary focus of project management is to achieve all of the projects goals and objectives.The traditional approach of project management are.

1 Initiation

2.Planning and Design

3.Execution and construction

4.Monitoring and Controlling System

5.Completion

However, its a traditional approach not applied for all projects.

Project Management Methodologies are all about specifying to best way to initiate,plan and execute the projects.

There are list of Project Management Methodologies---

1.Agile

2.Waterfall

3.Critical Path Method (CPM)

4.Critical Chain Project Management (CCPM)

5.Event Chain Methodologies

6.Six Sigma

7.Scrum

8.Extreme Programming (XP)

9.Crystal

10.Feature Driven Development (FDD)

11.Dynamic System Development (DSDM)

12.Adaptive Software Developement

13.Rational Unified Process (RUP)

14.Prince2

Project Management Mathodologies enables the organisation to tackle these projects comprehensively, systmatically and in an integrated manner for acceptable risk.

Because of this, it provides benefits strategic, tactical and operational level.

Strategically, the methodologies necessary to provide confidence to customers,partners and senior management that organization can manage large projects and deliver them profitably

Tactically, the methodologies allows off-site managers to have confidence in validity of status assessments.It ensure early recognition and correction of the problems.

Operationally, the mathodologies by which organisation empowers the project team to do the right thing,the right way, the first time.To enables the organisation to deliver cost effective, schedule compressed solution.

DUE TO BIG RISK

The importance of using any scientific approach/methodology depends primarily on project requirements and stake holders. Size is one of the criteria which influence decision making. Naturaly, for big projects, problems, complexities and number of stake holders are on the higher side. Therefore to increase the chances of success Professional approach is much more important. However there is no single method or approach which can guarantee success to any given project. Hard work using best suitable methodology can bring lots of hope on success.