Any organization with a project based operations should have a plan to manage and complete projects. Deploying a methodology can enable you to stay coordinated and organized. There are many different methods; each has its own challenges and advantages. Explore the available options for your workflow to ensure that you’re taking the right approach.
What is a project management methodology?
A project management methodology is the guidelines and techniques used to plan, report, and accomplish project goals. Business owners have several methods available to plan and execute projects, depending on the business processes. You can create a hybrid system by combining different elements of method that are unique to your project or adopt a workflow of a single established method.
Benefits of having a methodology in place
The benefits of having an established method are:
- Project team has clear instructions on workflow and produce required project outcomes.
- Team can troubleshoot problems and address risks instead of responding to emergencies.
- Adjusting the workflow becomes easier when you have a method in place to compare changes.
- Having a method enables you to explain the project approach to clients and stakeholders.
- Teams have a common priority and individuals understand the impact of what they contribute.
After you adopt a specific method, you can update it to reflect a comparison of actual workflows to theoretical structures. By documenting the method, you can show growth in your strategy.
Three types of Methodologies
Here are the three common methods your organization can adopt:
Waterfall
Waterfall consists of task completion in a defined sequence. Every project task is scaffolded off of the predecessor task, which means that the project team members must complete the first task before moving on and completing the next one. Waterfall has a well-defined start, middle, and finish. It’s a traditional method with actions for the team to complete as defined in the timeline. Waterfall consists of:
- Determining consumer and client requirements
- Concept planning and development
- Creating the product
- Integration of existing product with the new one
- Testing
- Launching and installation
Waterfall is best suited for companies that produce products following specified guidelines for assembling an item. Waterfall is less flexible and companies with changing project requirements may find it inefficient.
Agile
The concept of agile was initially developed by software developers. This method is based on responsiveness, prioritization of needs, and collaboration. Instead of the identification of the end goal, this method identifies small iterative deliveries. It emphasizes support and flexibility instead of pre-defined instructions.
This method is best suited to web development and software development companies that report regular updates for their services and products. Agile managers emphasize team members’ awareness of their roles, encouraging a shared culture of support. Agile has expanded into the following sub-categories:
- Scrum
- Kanban
- Learn
- Extreme Programming
Hybrid
Hybrid combines practices and principles from both agile and waterfall methods. It is an adaptive and flexible approach that leverages the advantages of both methods to address unique project needs.
In a hybrid approach, the project manager tailors the techniques and processes based on the unique requirements of the project. It involves a blend of phases from traditional method such as initiation and planning with agile practices such as continuous feedback and iterative development.
The main objective of hybrid is finding a balance between the predictive, structured nature of the waterfall and the adaptive, collaborative, nature of the agile approach. This enables organizations to manage projects in the best way while accommodating uncertainties and changes during the project.
Tips for choosing the right methodology
Choosing the right method affects your team’s efficiency and project outcomes. You must be intentional about methods adopted by your company so you can easily achieve results. Use below-mentioned strategies to choose the best-suited method:
Assess the project needs
Your first strategy should be assessing your project resources and goals. Outline your project requirements to make it easy to determine which method is best for your specifications. Collect these requirements:
- Project Budget
- Project Timeline
- Organizational structure
- Project objectives
- Customer information
- Roles of project team members
- Project Stakeholders
Develop a comparison chart
Create a list of method that align with your resources. Chart the advantages and disadvantages of each method for your project.
Analyze the risks and rewards
Use your project data and chart, create projections of success and potential risks that might arise due to adopting each method. The method that might be the most successful could also have a high risk, therefore, collaborate on a decision about risk appetite.
Choosing the Right Project Management Methodology – FAQs
How to decide which project methodo to use?
Consider project type and industry type while you choose your method. Different industries might have different methods that are proven successful and are commonly used. Consult with an expert and research the best practices in your industry to identify methods that are best for your organization and industry.
What is the most commonly used method?
Waterfall is the most commonly used method and has been used for years. It is used by organizations in different industries.
Why do we use project management method?
The aim is to standardize, organize, and structure work methods. This enables a focus of projects in a common way and allows for the repetition of successful aspects and to learn from past mistakes, leading to continuous improvement of processes.
How can project management method assist a company?
Methodology can help standardize processes, build a common project language, and develop an understanding of how the project will be managed.
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