Any organization that conducts and manages projects on a project-by-project basis should always have a plan or methodology read to complete and manage projects. The right project management methodology can not only make it easier for you to manage projects but also improve the time to completion and the efficiency displayed by your team.
Using the right project management methodology allows your entire team to remain in communication with each other and move towards the advantages and challenges of project management. Knowing that there are multiple project management methodologies, you should explore all your options before you choose the right strategy.
In this article, we look at some of the many project management methodologies and how you should go about choosing the right one. Go through this article and make sure you read the tips to make the right choice.
What is a Project Management Methodology?
A project management methodology is basically the sum of all techniques, tools and guides used to plan, prioritize and accomplish the goals set from a specific project. Project managers are usually tasked with overseeing the requirements of a project and making sure that they understand the methodologies that go into a project.
Besides just following a set methodology, project managers can also create a hybrid approach and use elements from different methodologies in one place. Remember that a one-size-fits-all strategy does not work anymore, which is why you can opt for different methodologies and routines for different projects.
The benefits of setting a defined project management strategy at the start of your project include:
· All team members have the same set of rules, workflows and dictations to abide by.
· All team members are prepared ahead of time to troubleshoot issues and react to emergency situations.
· The project approach can be explained better to clients and stakeholders.
· Adjustments can be easily made to your workflow through the use of existing methodologies.
· Team priorities and workflows remain the same, allowing individuals to collaborate in a better manner.
Types of Project Management Methodologies
There are multiple project management methodologies available for project managers to choose from. We review a few of them here to make your decision easier;
The waterfall methodology is a process focused on segregating tasks in a project and then completing it in a sequential manner. Each task takes off from the previous one. Team members should work on tasks in a periodic manner and complete previous ones to move on to the next one.
Waterfall methodology consists of the following processes:
· Determining all of your client and consumer needs
· Developing a concept and planning the process
· Creating the product
· Integrating the new product with others
· Launching the new innovation
The Agile project management approach is perfect for software developers. The Agile methodology is focused on responsiveness, collaboration and individual needs. It works on smaller deliverables and objectives rather than focusing on the long-term end goals. The process focuses on flexibility from the management to each employee in the team.
This process is well suited for software updates because constant updates are required with continuous maintenance support. The following concepts are also focused on the Agile approach:
· Adaptive Framework
· Extreme Programming
Six Sigma is a project management methodology focused on improving consistency and quality assurance by refining different processes and making them more efficient. The Six Sigma process is made out of five different steps, or better known as the lifecycle:
1. Define all expectations
2. Measure team performance
3. Analyze Issues
4. Improve all Procedures
5. And, apply all updates and innovation across the project
Tips for Choosing the Right Project Management Methodology
Having looked at the different methodologies, we now study the tips you have to choose the right methodology for your project. Follow these tips for success in the project.
Assess Project Needs
The very first thing you should do while choosing the right methodology for your project is to assess your needs and create a defined strategy. Gather all information about resources and goals within your project and define a clear outline using this information.
You should preferably know the details below for a detailed assessment:
· Company structure
· Project objectives
· Customer details
· Project complexity
· Roles of team members
Identify All Key Variables
Once you have assessed your project, you should move on to identify all the key variables within the project. Determine the variables and the factors that are most important to the success of your project in the long run. Variables that determine your project’s success can help you understand different aspects and then choose a methodology that focuses on those aspects.
Create a Comparison Chart
List down all key project management methodologies available to you and run a comparison chart. The comparison chart should include the pros and cons of all methodologies in one place. This chart can help you put your selection down on a document. Make sure to create separate charts for different projects, as each project has diverse requirements.
Weigh Risk and Rewards
Once you create a comparison chart, you should review that chart to create a risk and reward analysis. Make sure that you understand the risks of going for each methodology and the reward as well. Doing this will finalize your research and help you pick a clear winner.
Project management methodologies are of extreme importance today, and you should make sure that you step into your projects with the right methodology. We hope you find the tips in this article helpful and are able to pick the right methodology based on this proof.