Established project management methodologies are used in projects to achieve certain goals. Project methodologies provide your team with clear sets of instructions and processes to help achieve better outcomes. Several project methodologies have evolved to meet the requirements of different organizations and industries.
With so many different approaches available, how do you evaluate the most suitable one for your project?
Agile is designed for projects that require higher levels of flexibility, speed and response to changes. It allows projects to be handled quickly in smaller chunks, reducing the hassle of repeating steps. Agile provides a clear and measurable structure that promotes iterative development, self-organization and team collaboration. It also makes it easier to identify issues early on and implement modifications in earlier stages.
Scrum is a flexible framework that incorporates short iterations of work to tackle smaller portions of a project in succession. Scrum is perfect for smaller project teams (ideally less than seven members) and offers higher levels of interactivity. The goal of Scrum is to help project teams develop, deliver and sustain complex deliverables through collaboration and accountability.
3. PRINCE2 (Projects in Controlled Environments)
PRINCE2 lays emphasis on well-defined responsibilities and creating clear steps. It is a powerful framework for running large enterprise projects. PRINCE2 is a process-oriented methodology that focuses on planning, cost analysis, risk mitigation and business justification. This is one of the most popular project management methodologies, as it maps out the stages of a project from start to finish and clarifies details regarding every deliverable.
4. Project Management Body of Knowledge (PMBOK)
PMBOK breaks down project management into five primary phases: conception, planning, execution, performance and monitoring. PMBOK is known for its universal and thorough approach to managing large scale projects. It promotes understanding and communication amongst team members by standardizing processes and vocabulary.
5. Critical Path Method (CPM)
The Critical Path Method is suited for projects that involve interdependent activities. It involves listing activities, work-break down, timeline and deliverables. The CPM method involves evaluating the longest and shortest time required to complete critical as well as non-critical tasks. The goal is to reduce time spent on non-critical tasks.
Maximize People, Resources and Tools
Your ability to select the best people for each project role and track resource allocation will ultimately determine project success, which is why need to choose people with the right mix of skills, talent and personality.
Choosing the right methodology helps reduce time wasted on haggling over structure and management processes. A deeper understanding helps you evaluate different techniques that provide maximum impact for your organizational requirements.
PMO Partners helps clients meet their project goals by connecting them to elite project management professionals. Our seasoned experts are happy to leverage their vast network to help you find the right talent for your requirements.