Project Management Software

Top 8 Project Management Methodologies And Their Applications

Any means of doing things is a methodology; the mechanism or technique that people follow to fulfill a goal or purpose. With time, project managers have frequently built a number of methodologies for managing and monitoring their activities and also the effectiveness of employees across projects. The list of potential methodologies is, somewhat predictably, continuously increasing as creative leaders conceive of innovative ways to successfully execute their ventures. Only looking at a collection of all of these methodologies, it can sound daunting, asking which would drive the business to accomplish the project.

Project Management Software enables organizations to supervise numerous projects at a time and helps them in project planning, resource allocation, and change management activities.

Project Management Methodologies

Any collection of project management methodology varieties that one will read on the web may differ. It is because this concept is pretty versatile, and the meaning of ‘methodology’ by all is distinct. Throughout this article, in the expectation that people can find one that fits best for the organization, we have gathered eight of the most widely used forms of methodology. For further information, please do visit 360Quadrants.com for project management solutions and to see whether there is a solution that is ideal for your business.

  1. Kanban

Kanban comes under the category of lean project management but is most commonly linked to the scrum approach. In order to make the project run smoothly, Kanban insists on keeping tight procedures. Kanban needs real-time coordination through something called a kanban board, a planning mechanism for project management that makes this method within departments visible. As well as in lean production programs, Kanban is often commonly used to incorporate Agile methodologies. Visual signals, tables, contribution points, arrival points, and work-in-progress constraints are part of the Kanban board. Some experts abide by Kanban boards, but others aren’t skilled enough for that. For organizations that are trying to shorten the time it requires for them all to complete a project from beginning to end, Kanban is a perfect technique. Kanban is also a good match to support development.

  1. Scrum

Scrum is a common technique for project management, which is a part of the Agile process. However, it is not a specific technique. In a professional context, the scrum structure emphasizes collaboration, personal responsibility, and community development towards the same goals. There are three foundations of Scrum: accountability, examination, and adaptation. The regular stand-up sessions where group members provide feedback on success, obstacles, or suggestions are one crucial feature of the scrum methodology. Scrum is a fast-paced strategy that fits well with Agile teams that can adapt rapidly. For teams of skilled administrators that are specialized at prioritization, Scrum is better. For individual leaders who can manage their projects without hand-holding, this approach fits well.

  1. Critical Chain Project Management (CCPM)

Like all of the other methodologies, critical chain project management is recent in nature. It was introduced more recently for the critical path method (CPM) as a solution for all those who are not getting their desired returns on investment. Planning focuses around tools or the personnel and facilities users have ready to execute projects in critical chain project management. This technique takes account of work orders and timelines, but its guiding force does not use those criteria. CCPM is a comparatively recent approach that claims to concentrate on strategic skills. Emphasis is put on mono-tasking or resource allocation to one task at hand in CCPM. This is contrary to multitasking, forcing individuals to break attention between different elements of the initiative. For an enterprise that is attempting to roll out a live-chat approach, CCPM will be a good technique.

  1. Lean Methodology

Lean project management is about optimizing profit and minimizing loss. Any organization, anywhere, hopes to raise profitability and reduce the amount of money invested in manufacturing its products and/or services. In its five principles, Lean management will help users achieve everything. The goal of these values is to help enterprises minimize costs, increase the quality of the products and services, and maximize customer satisfaction. The five principles of Lean Methodology are described below:

  1. Knowledge of project importance 
  2. Map the flow of values 
  3. Make sure the distribution of the flow of values 
  4. Let the consumer decide the pull 
  5. Continuous method improvement
  6. Agile

If something is described as Agile, it is capable of moving rapidly and effortlessly. This project management approach can be flexible if you have a quickly changing plan and staff who are able to cope. As compared to other methods that are more constant, the Agile framework is more unpredictable. For innovative individuals or any group that collaborates constantly, Agile is always successful. Through Agile technique, one difficulty is that everything is basically an informed guess. The time constraints are not tough and fast, and neither is the budget. As time passes by, people will need to reconfigure those tactics, adjust deadlines, or even call for extra resources from the stakeholders. This technique might not be a suitable choice for those working under highly fixed resources. This methodology involves continuous contact in order for project management to be able to correct what has gone wrong. When people are on an Agile team, they are also accountable for speaking out when practices do not perform or might be easier.

  1. PRiSM

PRiSM is an expression that stands for Projects integrating Sustainable Methods. The PRiSM method reflects specifically on how the world will and can be influenced by a project. This approach, initially introduced by Green Project Management (GPM), has won awards for its environmental orientation and overall maximization of capital. The PRiSM approach challenges people not only to understand the life cycle of the project but rather to care about the after-effects of the project. In institutions that prioritize environmental conservation, the PRiSM approach is more widely used. This will not mean that environmental sustainability is the priority of all PRiSM ventures. PRiSM can be used in any assignment. Even then, it is definitely common with organizations that typically emphasize efforts to achieve sustainability.

  1. PRINCE2

PRINCE2 is also an expression for Projects in Controlled Environments. Interestingly, this technique was developed and used by government leaders in the United Kingdom. Now it is circulated more widely, and it has extended to many other European nations, as well as to Australia. PRINCE2 calls for users to break problems into smaller, more open steps. This is the traditional approach for a UK-based initiative on information management. PRINCE2 is a systemic strategy with several values that are common across every business. For projects that have their specifications pre-sorted, it could be a useful tool. PRINCE2 requires ample information to be effective.

  1. Waterfall

Waterfall is an effective technique. The methodology of the waterfall technique consists of establishing a linear order of phases or steps to continue. Those leading a waterfall design must have the phases and measures mapped out in advance that they plan to undertake. Project managers and team captains are required to provide a good view of the project layout from the start. It is not easy to adjust this technique, and it cannot be used for projects with a lengthy schedule. Based on the team composition and desired process, the phases used can differ. This technique would not enable prior steps to be backtracked and redone. This requires users to do stuff correctly the first time around, which may make it a challenging option for ventures filled with confusion.

What’s your choice?

Hopefully, this article helped you understand the options available, and you are a few inches closer to finding the correct approach for them. Once they have agreed, users might not even have to continue with all of these. If they try it out for a bit, they will go back to the paper board just to find it is not a match. Only remember not to do that so many times, as discipline is one of the requirements for effective methodology, and you might end up draining valuable resources.

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