The Main Project Management Methodologies
When a project is carried out systematically, then there are more chances of its success.
For the systematic execution, there are already many project management methods available for project managers. But which method is best for your project? To answer this question, the first step is to know about the different options which at your disposal.
The top project management methods, techniques and frameworks which are followed in different industries are explained in this post in order to evaluate and choose the option which is the best suited for your project.
The main project management methodologies are:
- Critical Path Method
- PERT (Program Evaluation and Review Technique)
- Critical Chain
- Extreme Project Management
- Six Sigma
- Joint Application Development
Agile methodology is best suited for projects require extreme flexibility and speed. It focuses less on documentation and more on customer satisfaction.
Agile methodology is good for products with a faster release cycle.
Scrum framework has an iterative project management style. It follows the principles which are followed in Agile methodologies.
In Scrum, the work is done in sessions which are also known as “Sprints”. Here, the Scrum Master facilitates processes instead of a project manager.
Waterfall Methodology is based on traditional methods. It mainly focuses on following the processes. In this methodology, a lot of emphases is given on the documentation of the project.
4. Critical Path Method:
It is a step-by-step method. It is best for projects with interdependent tasks. It emphasizes measuring and prioritizing tasks.
PERT (Program Evaluation and Review Technique) is commonly used along with the Critical Path Method. It is suited for businesses which are planning for expansion.
PERT emphasizes measuring progress to create realistic timelines and budgets.
6. Critical Chain:
Critical Chain is more advanced than CPM and PERT. In this method, goals are created according to constraints and there is more focus on cost saving and benefits.
7. Extreme Project Management:
Extreme focuses on reduction in total time of each repetitive cycle. It organizes these cycles into daily or weekly processes. This method focuses on timely delivery of the final product.
8. Six Sigma:
Six Sigma was originated at Motorola in the early 1980’s. It is data-driven project management.
It focuses on waste reduction, process improvement and profit increment.
9. Joint Application Development:
In Joint Application Development involvement of client is from a very early stage. Team and client both collaborate freely.
Sessions for client contribution are held throughout the project lifecycle.