Looking for some of the most commonly used and recognized project methodologies and why they’re essential to the success of your projects? Look no further. Think of project methodologies as blueprints, step-by-step instructions that guide your team to build a successful project. With so many different project management methodologies like Agile—and, in some cases, overlapping—approaches to managing the complexities of any given program, how can you know which one is right for your project, team, or organization? We cover Agile, Waterfall, Critical Chain, Critical Path, Six Sigma, and Scrum methodologies.
Agile Methodology
Agile was developed for projects requiring significant flexibility and speed and comprised “sprints”—short delivery cycles. It may best suit projects requiring less control and real-time communication within self-motivated team settings. Agile is highly iterative, allowing for rapid adjustments throughout a project.
Waterfall Methodology
Waterfall methodology is sequential and commonly used in software development across many industries. It comprises static phases (requirements analysis, design, testing, implementation, and maintenance) executed in a specific order. Waterfall allows for increased control throughout each phase but can be highly inflexible if scope changes may be anticipated later.
Critical Path Method (CPM)
Critical Path Method (CPM) is one of the commonly used project methodologies. It’s a step-by-step methodology for interdependent projects. It lists activities and uses a work breakdown structure (WBS) and a timeline to complete dependencies, milestones, and deliverables. It outlines critical and noncritical activities by calculating the “longest” (on the critical path) and “shortest” (float) time to complete tasks to determine which activities are crucial and which are not.
Critical Chain Project Management (CCPM)
Critical Chain Project Management (CCPM) differs from Critical Path Method (CPM) in that it focuses on using resources within a project instead of project activities. To address potential resource issues, buffers are built-in to ensure that projects are on time and safety is not compromised.
Six Sigma
Motorola originally developed Six Sigma to eliminate waste and improve processes and profits. It is data-driven and has three key components: DMAIC (define, measure, analyze, improve, and control); DMADV (define, measure, analyze, design, and verify); and DFSS (which stands for “Design for Six Sigma” and can include the previous options, as well as others like IDOV—identify, design, optimize, and verify). Six Sigma is sometimes debated as a methodology in the PM community.
Scrum
Scrum (named after rugby) is an iterative part of the agile framework. “Scrum sessions” or “thirty-day sprints” determine prioritized tasks. Instead of a project manager, a scrum master facilitates. Small teams may be assembled to focus on specific tasks independently and then meet with the scrum master to evaluate progress or results and reprioritize backlogged tasks.
Several other project methodologies exist, such as the Event Chain Methodology (ECM), Crystal, FDD (Feature-Driven Development), DSDM (Dynamic Systems Development), Adaptive Software Development, RUP (Rational Unified Process), Lean Development (LD), PRINCE2, and others.
Tip:
Remember to leverage the power of Project management software like Wrike, Monday.com, Teamwork, Microsoft Project, Asana, and Trello to provide a centralized platform for managing tasks, timelines, and resources. They enable project managers to create schedules, assign tasks, track progress, and collaborate with team members.
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