Top 5 Project Management Methodologies
Leaders and managers with foresight don’t just follow one single project management methodology. They take the time to familiarise themselves with a number of them so they know how to deploy the right one for the specific project in question. It goes without saying that project management methodologies are necessary for a project’s success. For this reason, most modern-day organisations implement some form of project management practice within their business.
What is project management methodology?
Project methodology is effectively a plan that shows how tasks and projects may be planned, managed and carried out, from the start of the project, to the end. It is a series of practices, procedures and various techniques that must be adhered to by project managers.
Purpose of Project Management Methodology
Not enough time is the main reason cited for ineffective collaboration within project teams. As projects usually have strict deadlines, collaboration is of vital importance, hence, adopting an appropriate project management methodology is necessary.
Collaboration is always the best way to keep the project team engaged, increase productivity and be more effective in the long term. Adopting a methodology is the best way to foster collaboration and deliver a successful project.
Top 5 Project Management Methodologies
To follow are 5 of the best methodologies in the project management arena today:
1. Agile Project Management Methodology
Agile is one of the top methodologies and is essentially a series of principles involved in software development. It is known for its flexibility and capability to build processes. Agile projects feature a set of tasks which are initiated, executed and adapted according to ad hoc demands, as opposed to a pre-planned process. For this reason, Agile is ideal for dynamic environments where cases of unpredictability can occur quite frequently.
2. Scrum Project Management Methodology
Scrum is a methodology which enables a small, cross-functional team to deliver quick results. It helps improve communication and teamwork, as well as the speed of the processes involved. Terms such as sprints, scrums, backlogs, and burndowns are a common feature in scrum methodology. This methodology is ideal for environments involved in complex products, advocating the use of small, cross-functional teams who work on items clearly laid out and prioritised by a Product Owner who also ensures that the team is continually working to maximum capacity.
3. Kanban Project Management Methodology
Kanban is a well-known project management methodology with the primary focus of increasing efficiency. In a similar way to Scrum, it is flexible and does not focus on roles, but rather on the issues that matter. It is a good solution for environments where priorities frequently change. The popular online tool Trello, is based on Kanban, giving a clear overall visual depiction of the team’s work in progress. It works really well in organisations where there is a demand for a continual output.
4. Waterfall Project Management Methodology
Waterfall methodology focuses on solid planning and handling everything in one go. Planning and allocation of resources is carried out at the beginning, with work being executed in cascades in the same way as a waterfall. It is however, quite rigid since there is no scope to make changes to the plan unless it is necessary. With this approach, it is not easy to go back and fix any mistakes which could end up quite risky. Some of these shortcomings are the reasons why Agile methodology has gained universal acceptance.
5. PRINCE2 Project Management Methodology
Originally created for IT projects by the UK government, PRINCE2 is a controlled project management practice that divides projects into different stages, each with its own set of plans and processes that should be followed. It is a great methodology for application in mainly large projects. It specifies the requirement for each project, identifies the target audience and also if the project is feasible. Projects are overseen by a PRINCE2 practitioner who ensures that the team has adequate resources and the right instructions on how to conduct the project and mitigate any risks effectively.
To summarise, selecting an appropriate project management methodology depends on the project in question and the kind of business environment in play. If the correct methodology is put into place, it can play a big part towards a project’s success.