This thesis investigates the application and efficacy of project management methodologies within the Information Technology (IT) sector, a critical area underpinning innovation and competitive advantage in the global economy. The research is motivated by the challenges IT projects face, including budget overruns, scope creep, and failures in meeting end-user requirements. Despite the acknowledged importance of project management in steering IT projects towards success, there exists a gap in understanding how project management practices can be optimally applied and adapted to the unique demands of the IT industry, especially in an era characterized by rapid technological evolution and changing stakeholder expectations. Through a mixed-methods approach that combines a comprehensive literature review with in-depth case study analysis, this thesis aims to (a) systematically explore the existing body of knowledge on project management in IT, (b) examine the applicability of various project management methodologies such as waterfall, agile, and hybrid models in IT projects, (c) identify key factors that influence project success and delineate the challenges faced by IT project managers, and (d) offer evidence-based recommendations to improve the management and outcomes of IT projects. The findings reveal that while traditional project management methodologies offer a solid foundation for project execution, the unique characteristics of IT projects—such as their complexity, technological uncertainty, and the need for rapid adaptability—necessitate more flexible and responsive approaches. Agile and hybrid methodologies emerge as particularly effective in managing IT projects, facilitating better stakeholder engagement, adaptability to change, and incremental delivery of value. However, the successful implementation of these methodologies requires a nuanced understanding of project context, including organizational culture, team capabilities, and project scope. The thesis concludes with recommendations for future research, particularly the need for longitudinal studies to examine the long-term impacts of project management practices on IT project success.