Project management methodologies are structured approaches that guide teams in planning, executing, and completing projects efficiently. These methodologies provide frameworks that help manage tasks, resources, and timelines, ensuring that project goals are met. Common methodologies include Agile, Waterfall, and Scrum, each with its own principles and practices tailored to different project needs. Choosing the right methodology depends on various factors, such as project size, complexity, and team dynamics. For instance, Agile is often preferred for projects requiring flexibility and rapid iterations, while Waterfall is suitable for projects with well-defined stages and requirements.