New technologies have enabled an increase in the pace at which businesses can form and reform value chains in order to create new products and services.

Thomas Koulopoulus and Nathaniel Palmer

Business and IT:

Methodologies are important for both business and information technology (IT). Even though there are tools for enterprise performance monitoring, business process management, and service oriented integration, phases are still needed to capture requirements and to design and

implement specific target solutions. In other words, methodologies are needed. Methodologies involve roles, workflows with sequenced activities, and artifacts that are processed in each

phase. Methodologies also involve the governance of the project

as a whole.