It is essential to choose the right project management methodology; it is easier said than done to have your team organized for the most important projects. Fortunately, using the right project management methodology can assist the team to organize the entire project by making the collaboration efforts more streamlined. When a correct methodology is followed, the experts agree that most projects managers benefit from these methods.
Why is Project Management Methodology Crucial?
The first step to success for a project is to choose the right project management methodology. The project’s managers can implement projects more conveniently for their organizations by reducing the project risks efficiently. A right method helps them to create a great impact which increases the organization’s chances of success. Let us explore some best methods for project management.
1.Waterfall Project Management
By utilizing the Waterfall, project managers can structure and manage their projects well. Waterfall has been a successful methodology that has been around for years; it has benefitted industries including software development and research organizations.
Waterfall allows creating phases like the design, testing, maintenance, and implementation to execute in specific order. It helps to capture the complete project requirements up front and eliminates the risk of losing the key information in the early stage.
2. Agile Project Management
Agile takes a significantly different approach to project management. The Agile methodology helps the project managers to split the project into sprints. It is ideal for the teams that are self-motivated and do not need extensive control over deliverables. Agile assists the team members to rapidly adjust the things they need. It is highly interactive and provides a way to make early modifications in the development process. With agile development approach, it becomes easy for managers to identify issues rather than waiting until the testing phase.
3. Hybrid Project Management
When teams favor both the above Agile and Waterfall project management methodologies, the benefits of both methodologies can be combined to create a powerful Hybrid project management methodology. In this setup, the requirements and planning phase is done under the Waterfall approach; the design, develop, and implementation stages are undertaken using the Agile method.
4. Critical Chain or Path Methodology
CCPM or Critical Chain Project Management focus on using the resources within a project as compared to focusing on project activities. It focuses on scheduled tasks and helps to solve the resource problems as opposed to agile or waterfall approach. There are built-in buffers to solve the potential issues which ensure the on-time delivery of the project. It possesses a WBS work breakdown structure which contains a list of activities to be performed; this methodology provides a timeline to complete the project efficiently. Moreover, it calculates the shortest and longest time to complete the project tasks by determining which activities are most crucial.
5. PRiSM Methodology
PRiSM or Projects integrating Sustainable Methods take into account the environmental factors; it is a unique project management methodology that helps managers to accelerate. The real estate or large-scale construction projects make use of PRiSM extensively that may result in adverse environmental effects.