The PRASE methodology provides a disciplined approach to correct thinking and achieving goals. It involves 5 steps: 1) defining the problem, 2) identifying the root cause, 3) analyzing the desired future state, 4) outlining the steps to get there, and 5) engaging in an action plan. The methodology aims to address real issues rather than symptoms by clearly stating problems and asking "why" to uncover root causes in order to create an achievable plan and future state.