Project Management Methodology

1. Define Project Management Methodology.

The term "project management methodology" was first defined in the
early1960s when various business organizations began to look for
effective ways that could simplify the realization of business benefits and
organize the work into a structured and unique entity. Communication and
collaboration were the key criteria for establishing productive work
relationships between the teams and departments within one and the same
organization.

Project Management Methodology is a strictly defined combination of

logically related practices, methods and processes that determine how best
to plan, develop, control and deliver a project throughout the continuous
implementation process until successful completion and termination. It is
a scientifically-proven, systematic and disciplined approach to project
design, execution and completion.

A project management methodology is a set of tools and guidelines that

help you organize

projects in a way that optimizes efficiency and performance. More

specifically, a given project management method helps you more easily
manage a project by providing a repeatable series of steps and principles.
The goal of any framework is to promote collaboration, increase
operational efficiency, keep the project on budget, and enhance the quality
of the final deliverable.
Project management methodology offers a clear project roadmap that lists
all the steps required to deliver a project successfully. These project
methodologies or techniques provide a defined governance structure,
process guidelines, test activities, processes, and deliverables. They take
a well-detailed, rigid, and repeatable approach towards project
management.

2. What is a project management framework?

The project management framework provides structure and direction to a
project. However, unlike project management methodologies is neither
too detailed nor too rigid. Frameworks guide projects to their goal while
being flexible enough to adapt to evolving conditions. It exists to offer
project managers the guidance they need to achieve outstanding results.
3. Types of project management methodologies.
1. Waterfall methodology: The waterfall or traditional methodology is
sequential and linear in nature. It is made up of static phases that are
executed one after the other in a particular order. While the waterfall
methodology allows more room to control each phase of the project, it
doesn't react well to ad-hoc project scope changes.
2. Critical Chain Project Management Methodology: Critical chain
project management (CCPM) helps project managers deliver timely and
cost-effective projects by taking resource and task dependencies into
account. It spots strategic points in project scheduling and inserts buffers
to ensure that each project milestone is hit on time despite limited
resources and project uncertainties.
3. Agile methodology: Agile methodology is an iterative and people-
centric approach to project management that focuses on responding to
change over following detailed planning.
It reduces the complexity of a project by breaking down the project cycle
into smaller segments allowing room for changes at later stages. To be an
agile project it needs to follow the core values and key principles defined
in the Agile Manifesto.
4. Kanban framework: The Kanban framework is a method that helps
businesses plan and organizes project activities visually by prioritizing
tasks on boards. It is one of the clearest, simple, and most effective project
management tools. In simple terms, Kanban helps project managers
manage their tasks, documents, lists, and files in a single interface.
5. Scrum framework: The term Scrum originated from rugby. In rugby,
the process where a team huddles around the ball and attempts to pass it
down the field to win is referred to as Scrum. The scrum framework helps
every person in the team to work together and complete a project
successfully.
6. Lean Methodology: The lean methodology has its origins in the
manufacturing units of Toyota which revolutionized the production of
physical goods in the 1950s. A few decades later it found applications in
knowledge work as well, helping businesses eliminate lean wastes,
improve processes, and work with tighter budgets and shorter deadlines.
7. PRINCE2 methodology: Projects IN Controlled Environments
(PRINCE2) is a full-fledged, process-based methodology that describes
every aspect of project management in a detailed manner. It clearly states
how every step should look like, clarifies deliveries in great detail, defines
roles and responsibilities perfectly, and more. This is a go-to methodology
for large enterprise-level projects.
 4. How to choose a project management methodology

Numerous factors combine and interact to determine which project

management method is the best fit for a particular team and organization.
Here are some variables we should be mindful of when exploring different
methodologies:

1. Client or stakeholder collaboration. If a client or stakeholder is going

to be closely involved, you'll need a more flexible framework, as they'll
likely suggest last-minute changes to the project. Conversely, if your
client will be involved minimally, a rigid framework can provide the
guidance your team needs to expedite operational efficiency and
streamline tasks.

2. Flexibility. Ensure that your methodology provides the necessary

flexibility for the project's scope to change after work has begun. Some
methods are rigid enough to prevent anyone, the stakeholder, from
changing the scope or goals once work has started. If you to keep the
scope or objectives from evolving mid-project, choose a stringent
methodology. Conversely, more flexible methods allow your team to alter
course, which is beneficial if you work with dynamic goals.

3. Timeline. If you are working under tight time constraints, you need a
fast-paced methodology that will keep everyone on task and apprised of
upcoming deadlines. However, if you are prioritizing product quality
above all else and have the room to stretch deadlines, you can leverage a
looser project methodology.
4. Risk tolerance. Taking on any project involves incurring some degree
of risk. However, large, big-budget endeavours involve significantly more
risk to your team and the organization. Smaller projects often have more
leeway to explore out-of-the-box solutions. Choosing the right
methodology will help your team mitigate risks and protect stakeholders'
interests.

5. Budget. Some methodologies require you to set and closely monitor

your budget for the entire project lifecycle, whereas others offer some
degree of flexibility. If you might need additional resources mid-project,
make sure your methodology leaves room to pull in more funding or team
members.

6. Team size. Consider whether your team is small and compact or large
and scattered across multiple departments. Some methodologies are
especially effective at managing small teams, whereas others are better
suited for organizing large, disciplinary groups.

5. Types of project management across industries.

The project manager is a staple role in many different industries. Though

the fundamentals of what they do are the same lead projects to fulfil goals
while staying on schedule and within budget the details of what they do
can differ.

Construction: A construction project manager organizes people and

resources to oversee the process of building structures like houses and
office buildings. The project manager generally works closely with
architects and engineers.

IT: A project manager in IT works with teams to solve IT-related problems

in a company. They can, for example, carry out a project to install new
software across a company, update networks, or help roll out cloud
computing services.

Software development: Software project managers orchestrate project

teams to develop new software and software updates. They may have
professional experience in developing software themselves.

Health care: A project manager in health care leads projects in hospitals

and other health care facilities. Health care project managers often have
to have a good understanding of health care legislation.

Energy: In energy, project managers carry out projects that develop new
energy infrastructure or improve existing ones. They might also work to
roll out energy-efficient practices at individual organizations.

Marketing: A project manager in marketing might work at a tech

company, advertising firm, large retailer, any number of other
organizations that have marketing arms. Projects can include marketing
campaigns, research efforts, and new product launches.

6. Explain Agile project management methodology and discuss the

benefits of using
Agile methodology Agile project management is a process for managing
a project that involves constant collaboration and working in iterations. It
works off the basis that a project can be continuously improved upon
throughout its life cycle and adapt to changes quickly of using Agile
methodology.

Agile is one of the most popular approaches to project management

because it is flexible, it is adaptable to changes it encourages customer
feedback. Many teams embrace the Agile approach for the following
reasons:

Rapid progress: By effectively reducing the time it takes to complete

various stages of a project, teams can elicit feedback in real time and
produce working prototypes or demos throughout the process

Customer and stakeholder alignment: Through focusing on customer

concerns and stakeholder feedback, the Agile team is well positioned to
produce results that satisfy the right people
Continuous improvement: As an iterative approach, Agile project
management allows teams to chip away at tasks until they reach the best
end result.