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Best Project Management Methodology

Most project manager knows that selecting the right methodology is crucial, but it depends on the project types and their businesses. While multiple project management methodologies are applied, here we’ve listed eight popular ones and what they’re best suited for.

To know more about project management methodology, you can find it as a set of principles, tools, and techniques that are used to plan, execute, and manage projects. It also helps the project managers to lead team members and manage work by facilitating team collaboration.

However, there are different types of project management methodologies, with different pros and cons. Some of these works better in particular industries or projects, which helps to understand which one works best for you.

What is Project Management Methodologies?

When we start researching project management methodology, different cases are overlapping and help to manage the complexities of any given project.

You can have a look at some of the best project management methodologies in practice today, comparing their use:

1) Agile Methodology

Agile is one of the more recognizable project management methodologies best suited for iterative and incremental projects. This process can help demand and solutions evolve through the collaborative effort of self-organizing and cross-functional teams and their customers.

When to use it:

This methodology is practice-oriented in software development and works well in that culture. To know more about agile methodology, as it has been applied to non-software products that seek to drive forward with innovation and have the level of uncertainty like food, clothing, computers, motor vehicles, medical devices, music, and more and used in other types of projects.

2) Waterfall Methodology

Waterfall Project Management Methodology is known as one of the most traditional methodologies. The waterfall methodology is known as a linear sequential design approach where progress flows downwards in one direction. While comparing the manufacturing and construction industries, its lack of flexibility in design changes in the earlier stages of the development process is becoming more expensive because of its structured physical environment.

When to use it:

The waterfall approach is excellent for manufacturing and construction project types; these are highly structured and too expensive to pivot or change anything after the final process is done. The waterfall project planning process is mainly used for Gantt charts for planning and scheduling.

3) Kanban Methodology

Kanban methodology is another popular Agile framework, similar to scrum, focusing on early releases with collaborative and self-managing teams. You can apply this visual method aims to deliver high-quality results by painting a picture of the workflow process that helps your business identify the project development process.

When to use it:

Like other methodologies, Kanban fits small businesses with smaller teams. This approach is to deliver a product or service for personal productivity purposes. For project management purposes, the methodology is initially for manufacturing and expanded into human resources, marketing, organizational strategy, executive process, and accounts receivable and payable.

4) Critical Path Method (CPM)

The Critical Path Method (CPM) is used to identify tasks necessary for project completion and determine schedule flexibilities. CPM is mainly used to discover the project timeline’s most important tasks, identify task dependencies, and calculate task durations.

When to use it:

The critical path methodology (CPM) improves future planning, facilitates more effective resource management, and helps avoid project bottlenecks. These improvement plans help project managers prioritize tasks, giving them a better idea of how and where to deploy resources.

5) Lean Methodology

This methodology promotes maximizing customer value while minimizing waste. This aims for the user to create more value for the customer by using fewer resources. However, the Lean methodology is mainly focused on eliminating waste from key processes to continuously impact the value stream positively.

When to use it:

The Lean methodology specializes in manufacturing industries, which is helpful for any business or organization that is not focused on any process. Still, the user is interested in transforming the way to conduct their business.

6) Six Sigma Method

The Six Sigma method refers to improving the quality by reducing the number of errors and identifying the process which is not working, and then removing it from the process. It refers to the quality of using management methods, primarily empirical and statistical; including this, there is the expertise of people who are specialists in these methods.

When to use it:

The Six Sigma Methodology works best in larger organizations. This helps companies use a few hundred employees who are likely too small to take advantage of their work.

7) Extreme Programming (XP)

Extreme Programming (XP) methodology is one of the numerous Agile frameworks offered by IT companies. But the key feature — emphasis on technical aspects of software development distinguishes XP from the other approaches.

When to use it:

This approach helps the user to allow for applying XP practices when requirements change frequently. It enables the user to build a clear idea of what they want.

8) Hybrid Methodology

The Hybrid Methodology helps you take two or more different project management methodologies and combine them to create an entirely new method. You to take any formal process and combine it with another.

When to use it:

The Hybrid approach is helpful because it allows the user to plan and define requirements with Waterfall, and design, develop and implement for Agile. Apart from this, it organizes work more predictably, adjusts processes to changing conditions, and evolves them as the product development process.

Final Thoughts

With 10+ years of experience, Kanak Infosystems LLP. is an ERP Solution provider company that helps small to large sizes organizations to take their businesses to the next level with better management software. For any inquiry, write us at — sales@kanakinfosystems.com

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