Today’s project management is a broad field. According to Teamwork, there are around 8,462 methodologies, and finding the right one is the most challenging part. Whether you’re a manager or leader, you will know that only one simple methodology won’t do the trick. It would help if you were flexible enough to learn how to mix and match different project management methodologies.
We know that you need to accommodate your project’s needs, and often finding the right approach for your project just takes a lot of your time and energy. That’s why our guide will first help you identify what project management methodology is and then go through the different set of project management methodologies so that you get an idea of which approach best suits your project.
Defining Project Management Methodology
In simple words, a project management methodology is considered to be a framework that helps you manage and organize a project so that it performs in the best way possible. This approach facilitates your project in the sense that it ensures you are correctly using your project management methodology, which works specifically for your team, project, or organization.
Different Project Management Methodologies
Although all projects go through the same steps from initiation, planning, executing, monitoring, controlling, and closing, no project is exactly the same as the next one. As a manager, when you consider the different goals set for yourself and your team, you will realize that there is no single approach that fits all your goals. You’ll have to work harder to find the most suitable methodology that gets the job done.
PMI’s PMBOK
The project management body of knowledge, also known as PMBOK, is considered to be one of the oldest methodologies out there. It basically provides you with definitions or guidelines when planning or scheduling a project.
The best thing about PMI’s PMBOK is that it can work for pretty much any project since every project will have to go through the stages outlined in the book. If you and your team use this methodology, everyone will have a clear view of how the project is coming together, so you’re all on the same page.
Agile
Put plainly, Agile is a collaborative project methodology that’s both fast and flexible. One of the reasons this methodology is primarily preferred is because it’s a way of creating self-organizing teams. With this methodology, your team will have a dynamic approach towards the project, not to mention that project planning is always open for any changes.
Prince 2
Prince 2 is short for Projects in Controlled Environments, and it’s a certified type of methodology. When the UK government first implemented it in 1996, Prince 2 was mainly used for IT projects, but it has evolved a lot since then.
Today, Prince 2 is a well-known project management methodology that includes seven principles, procedures, and themes. And although it was first used in the UK only, nowadays it has been adopted by many other countries with rather huge projects.
Waterfall
The Waterfall methodology is one of the most simple project management methodologies on our list, as well as the most traditional one. The name itself indicates that the phases of a project flow downward, similar to a waterfall. This methodology uses Gantt charts whenever you have planning or a schedule to do.
The principle of the Waterfall model is that you move from one phase to another only after you have completed that phase successfully. You could also use this method for highly structured projects.
Scrum
The term Scrum initially appeared in an article from 1996 and it stands short for ‘’sprint’’. This methodology is perfect if you’re working on a team of up to 10 people as it can create daily meetings a.k.a daily scrum meetings.
The Scrum Master leads the Scrum methodology, which works within an agile framework. Lately, there have been some efforts to make Scrum fit bigger organizations, but so far, nothing has changed.
Kanban
If you’re into visuals, Kanban is the right methodology for your project. Even the name means billboard in Japanese and the way it works is by putting tasks on a so-called Kanban-board where every team member can see the progress.
Kanban is a great multi-functional management tool that provides efficiency, and it works wonders for lean or agile projects. Nowadays, the Kanban methodology is part of marketing, human resources, executive process, and more.
Scrumban
Scrumban methodology is literally the blending of Scrum and Kanban – a hybrid project management method. Through the Scrum methodology, the teams worked on in each sprint from the backlog, while the Scrumban has a ‘’pull’’ feature that allows teams to work solely based on their capacity, similar to the Kanban methodology.
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Lean
Lean project management is exactly what the name suggests – a better method to eliminate waste and increase value in projects. This is achieved through separate technologies or assets which have a positive impact on the value stream.
Lean processes have taken on a new meaning since software development teams use this method to focus on increased value as well as user feedback.
eXtreme Programming (XP)
Reading the name of this methodology, this may sound rather dangerous, but it’s just a type of software development that uses short cycles and many releases to ensure improved productivity. It focuses on the customer and their requirements, meaning any idea they want to adapt to the project can easily happen with XP.
How to Choose the Right PM Methodology?
Obviously, there are plenty of factors that impact the methodology for your project or team. That’s why we’ve compiled a list of some critical points that can help you with that:
- Budget: First things first, consider the budget you’re working with. Is there a limit to it or can that change if necessary?
- Number of members: Consider the number of people within your team, the stakeholders, and whether your team is self-organized or all over the place.
- Flexibility: Do you have the chance to move around if needed within your project during and after the product?
- Time: How much time do you have in your hands? Do you just need to turn this in or do you have time to reshuffle and develop an excellent product?
Final Thoughts
Once you decide on a project management methodology that works for you and your team, that method will take your project to the next level. Whether you prefer more agile methods or traditional ones like the waterfall, keep in mind that a flexible and convenient project management method is the way to go.