Top 4 project management methodologies

Project management is designed to make your projects run smoothly and successfully. However, project management doesn’t have just one methodology. Several methodologies have to be utilized perfectly at different times to ensure that a particular project ends up well. Before using any methodology, it is advised that you study it very well and determine how it will fit into your project. If it doesn’t fit into your project, then you should discard it and look into another one.

Here are the top four methodologies and how they can become useful to your project at different points in time.

1. The waterfall technique.
This is known as the primary project management technique. This technique became very popular because it prioritizes handling one task after the other. This methodology meticulously designs and handles everything from the concept and planning phase to development and quality assurance and the final phase project completion and maintenance. What needs to be done before the project begins is to define the scope of the project clearly so that only a minute or no changes are required as the project proceeds. However, clients may not know exactly what their requirements are before they see working software and so change their requirements, leading to redesign, redevelopment, and retesting, and increased costs. With traditional project management methods, 30% of lost time and resources are typically consumed by wasteful techniques such as bad multitasking.

2. Critical chain/path methodology.
This methodology is unlike the others. It is focused on solving the resources issues that are seen in the workplace rather than just focusing on the tasks to be carried out. Every project has a certain set of important elements, which is called a critical chain (also called the critical path), which creates a project’s minimum timeline. This technique allocates the bigger resources to solving the critical issues. It also allocates some resources to the remaining sectors of production so that everything will run smoothly. This is usually perfect for companies that use several resources to carry out their projects. There are discrepancies regarding buffer sizing and allocation. For large and complex projects, there’ll be thousands of activities and dependency relationships so it can be mighty difficult managing this.

3. PRiSM technique.
It was established solely to create a procedure that values environmental factors and also bring about repeatable and effective methods of production. Their methodology aims to be used globally, hence the consideration of environmental factors. The most important feature of PRiSM is its ability to recognize and reward the project managers. PRiSM cannot work in isolation. Every level of the company needs to be on board with sustainable principles, or the methodology will fall flat.

4. IBQMI® Lean Project Management
This is a unique project management technique. It is unique because it focuses on the adaptability of the to changing situations and circumstances. It is a very flexible project management methodology that heavily relies on regular feedback from members of the team. The Certified Lean Project Manager® is a client representative who determines and implements solutions to meet the exact needs of the client or stakeholder based on the knowledge of the organization represented. Lean Project Management is a systematic method for the elimination of waste within a project management role. With this certification you will also learn how to prioritize work, manage issues with lean methods, lead teams, and negotiate with stakeholders.

When budgets are low, resources are scarce, and deadlines are short, Lean Project Management can help you make the cuts you need while still deliver quality work.

Learn how to master projects and use continuous improvement to get quality right from the start. Enroll in the Certified Lean Project Manager®

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