12 Popular Project Management Methodologies
Most managers use a methodology to help them carry out a project smoothly and achieve their goals and expected results within a given timeline and budget. There are a variety of methodologies available to assist managers at any point of a project, from initiation to execution and finally to completion, regardless of sector or trade.
A technique, in theory, is a model that project managers use to develop, schedule, execute, and achieve their project objectives. A variety of methodologies can be used depending on the form and purpose of the project. Choosing the right approach for the right project is critical to the project's success.
12 Popular Project Management Techniques
While project methodologies are not tool-specific, the fact is that in today's tech-dependent environment, the methodology and the organization's project management software tools are all too often heavily intertwined. Here are a few examples of traditional software development methodologies:
Agile
The agile software development approach is for a project that needs a lot of flexibility. Short-term delivery cycles, agile requirements, a diverse team culture, less rigid project control, and an overall focus on real-time communication are all main aspects of Agile.
Waterfall
The waterfall software development approach is a project management model that has been used for a long time. This approach had been used for decades prior to the introduction of modern methodologies. The production lifecycle has set phases and sequential timelines in this model. The model is incapable of dealing with the complexities of modern software development and is only appropriate for very linear and short-term projects.
Scrum
A scrum is an Agile approach that focuses on 30-day sprints, which divide project deliverables into 30-day intervals. There is no project manager in the scrum. Instead, a Scrum Master is in charge of facilitating regular project communications and addressing any disruptions that could be interfering with team members' ability to work on the project.
PRINCE2
The UK government uses this strategy for project management, which is distinguished by a product-based planning approach. A centralized project board owns high-level tasks like business rationale and resource distribution in PRINCE2, while a project manager manages lower-level, day-to-day activities like scheduling.
Six Sigma
This is a statistics-based technique for improving the efficiency of a process by calculating and reducing the number of errors or bugs present to as close to zero as possible. If 99.99966 percent of the final product is defect-free, a process receives a Six Sigma ranking.
Rapid Application Development (RAD)
The rapid application development approach focuses on producing high-quality products in a shorter amount of time. It employs the workshop approach when collecting requirements. Prototyping is used to achieve specific specifications, and software product reuse is encouraged in order to shorten production timelines. Internal communications of some kind are considered informal in this process.
Critical Path Method (CPM)
For projects with interdependent operations, this is a step-by-step approach. It includes a list of tasks and employs a work-break-down structure (WBS) to complete dependencies, milestones, and deliverables. It determines which activities are critical and which are not by measuring the "longest" (on the critical path) and "shortest" time to complete tasks to determine which are critical and which are not.
Critical Chains Project Management (CCPM)
Instead of project operations, this approach focuses on the use of resources within a project. Buffers are designed to resolve possible resource problems, ensuring that projects are completed on schedule and that overall safety is not jeopardized.
Spiral
The spiral model is a software project risk-driven process model generator. The spiral model directs a team to follow elements of one or more process models, such as gradual, cascade, or evolutionary prototyping, based on the particular risk patterns of a given project.
Iterative
An iterative model does not try to start with a complete set of requirements. Rather, development starts with the specification and implementation of a small portion of the program, which can then be reviewed to determine additional specifications. This process is then repeated for each cycle of the model, resulting in a new version of the program.
Incremental
The incremental model is a software development approach in which a product is planned, implemented, and evaluated one step at a time until it is complete. It entails both growth and upkeep. When a product meets all of its specifications, it is said to be completed.
Evolutionary
The evolutionary software development approach focuses on rapidly designing a first software implementation from very abstract requirements and then changing it based on your feedback. Each new version of the program inherits the best features from previous versions. Each version is then fine-tuned based on your feedback to create a system that meets your requirements.
Project Execution: A 4-Step Cyclic Approach
Companies must follow a systematic procedure after selecting the appropriate project approach to ensure project performance. During project execution, most organizations use a four-step cyclic approach:
Consultation
This phase is crucial because it allows you to collect information about the customer's particular business needs. The team learns about the client's priorities, scope, objectives, business practices, current resources, and budget during consultation sessions. These meetings are also used to highlight the company's services, exchange previous experiences, and provide insight into industry developments.
Proposition
The presentation of the proposal to the client is the subject of this stage. Planning, implementation, distribution, software procedures to be followed, SDLC approaches, coordination, schedule, resource allocation, licensing and intellectual property rights, post-delivery support and maintenance, anticipated challenges and complexity, guarantee, technology to be used, and so on are all included in the proposal.
Confirmation
This crucial move focuses on the proposal's specifics. Various elements of the contract are negotiated and settled upon, including confidentiality arrangements, service level terms, taxation, operating practices, and legal arbitration. The service provider ensures that all contracts are flexible and scalable so that the project can be changed and updated while they work on it.
Execution
The business solution is built according to pre-agreed terms and conditions during the implementation stage. To oversee the project's implementation, regular review meetings are held. The completion of a project is normally phased out and delivered in installments.
Companies ensure that the cycle of Consultation, Proposal, Confirmation, and Execution is replicated after each delivery in order to maintain high-quality standards.
