Must know Project Management Methodologies:- Without organization or method, project management is nothing. In order to succeed in your project on time, budget and resources, you and your team must be organized and effective. The secret? Follow one of the existing project management methods to help you organize your project in a streamlined and structured way.
Project management methodologies help you to accomplish every step of your project, from planning to implementation, with a view to efficiency and profitability. Choosing a methodology to drive a project allows all actors to work effectively together, following clearly defined rules.
7 – Project Management Methodologies
Here are 7 project management methodologies to know.
- Traditional Methods
Conventional methods are the most used methods in project management. These methods are also called “cascading” because each step must be completed to move on to the next.
By applying this methodology, the project team follows the specifications to the letter and works on the entire project until delivery. There is no interaction with the client who will receive his / her project once it is finished.
Everything must be planned. The team is committed to a precise schedule and defines all the tasks to be carried out. The major disadvantage? There is no room for change and unexpected, so it’s best to do it all right the first time.
In the end, the client is often disappointed because his expectations have evolved or the context has changed. Contingencies have arisen, and adjustments have to be made, which means delays and additional costs.
For these methods to work properly, good communication between team members is essential.
- Agile Methods
More efficient and less rigid than traditional methods, Agile methods put customer needs at the center of project priorities. They offer greater flexibility and visibility in project management, enabling the team to be more responsive to customer expectations.
The project is thus divided into mini-projects, each requiring the validation of the client to move on to the next. Dialogue with the client is preferred, feedback and adjustments are possible. More attention is paid to changing customer needs. The agile method is becoming more and more popular. It is one of the trends to follow in 2017.
- The Adaptive Method
Many projects evolve as they progress and have requirements that are not clearly defined. It is therefore difficult to manage them with a traditional method. The adaptive method is designed to continually adapt to changing situations in a project. A project consists of many variable elements such as:
- The risks,
- The costs,
- The duration,
- The complexity,
- The instability of the market,
- The skills of the team,
- The technology used,
- The economic climate,
- The involvement of the client
The adaptive approach is not fixed and constantly adjusts to the different variables of the project. Because each project is different, it must be treated with a different approach. Unlike the traditional methods where you follow scrupulously the schedule of tasks, with the adaptive method, you try to understand the current situation and you adapt to it by being creative.
- The critical path method
This method allows you to determine the total duration of your project. The critical path is the set of tasks that must be completed to complete your project on the required date. These tasks are called “critical tasks” because they are essential to the success of the project and must not be delayed; otherwise the entire project will be delayed. Their margin for maneuver is therefore zero.
The Critical Path method works with the PERT (P program Evaluation and Review Technique) diagram, which aims to help you find the best possible organization to complete the project as soon as possible. With this method, you can compare what should happen with what is actually happening every day.
- The PERT method
The PERT method consists of organizing a set of tasks in the form of a network. Thanks to their dependence and timing, these tasks contribute to the success of the project. To plan your project, you must list all the tasks necessary for its execution, order them and establish their dependency (for example, task B must be completed before task C can start).
The PERT method allows to graphically representing the different stages of the project. For each task, a start date and an earlier and later end date are indicated. Thus, the diagram makes it possible to establish the critical path which determines the minimum duration of the project. This method is used in combination with the critical path method and also allows perfecting the Gantt chart.
- The PRINCE2 method
PRINCE2 (Projects IN Controlled Environments, version 2) is a structured, pragmatic and adaptable project management methodology that can be used for all types of projects. According to this method, you must plan, delegate, monitor and control the 6 aspects of project management:
- The cost
- The time limit
- The quality,
- The perimeter
- The risks
Used throughout the world, the PRINCE2 method ensures that projects will be delivered on time, on budget and managing risks, benefits and quality.
- The Lean Management Method
The lean philosophy is the pursuit of performance (in terms of productivity, quality, time and cost) through continuous improvement and waste elimination in order to satisfy the customer. To summarize, the lean method provides high-quality work with minimal money, resources and time.
In English, lean means “lean”, “fat-free”. This method, created by Toyota in Japan, is mainly used in production and focuses on lean management. This method is ideal for reducing budgets, meeting short deadlines and achieving good results with a small team.
There are many other methods of project management. Each method has its advantages and there is not one better than the other. Ideally, take time to look at each method to find the one that best suits the project you are currently working on. As each project is different, you will likely be required to use more than one of these methods during your career as a project leader.
Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
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