Top 10 Most Popular Project Management Methodologies

It also builds buffers of time around these tasks in the project’s schedule, ensuring the project meets its deadlines. Agile project management is an iterative approach focusing on continuous releases and customer feedback. It’s characterized by its flexibility, adaptability, and emphasis on collaboration and customer satisfaction.

• And there’s no going back to a previous stage once it’s completed (just imagine trying to swim against a waterfall — not fun).
• Six Sigma is based on the assumption that every business process can be represented as a mathematical function.
• PRINCE2 addresses the common reason for project failures by providing a pretty detailed way to keep the project easily organized.
• Agile project management methodologies are based on short, direct communication channels.
• They are often difficult to plan in detail in advance and require a great deal of flexibility.

Work breakdown structure Software can be used to break down the larger deliverables of your project into manageable smaller tasks. This is a productivity technique that uses a step-by-step approach to project management. PRiSM stands for Projects Integrating Sustainable Methods and aims at managing change while incorporating environmental sustainability into its processes. The goal with PRiSM is to complete tasks while reducing a company’s negative environmental and social impact. Today, this visual approach to managing a project is well-suited to work that requires steady output.

Key Project Management Methodologies and Frameworks

Size and scope play a significant role when selecting a suitable project methodology or framework. Some projects may be small, requiring a team of no more than 3-4 people and a short period. In contrast, others would be large, with multiple teams working together for several years. The Waterfall Framework is a linear approach that first gathers stakeholder and customer requirements before creating a sequential project plan to address the identified requirements. Consisting of five main stages, each stage is completed before progressing to the next–similar to a cascading waterfall. The terms framework and methodology are often used interchangeably in project management.

Once the project scope and size are determined, look into the available methodologies and frameworks. Compare notes, and weigh the pros and cons as to which one would suit your requirements the best while minimizing risks. Lean methodology originated in the 1950s in Toyota and currently focuses on eliminating waste, maximizing value, and improving efficiencies. Many organizations have opted to adopt the Lean Framework as it can be applied to any business, regardless of size, to achieve objectives in a sustainable manner.

How to choose the right project management method – our tips

Unexpected challenges, completed and new tasks and problems are discussed within the team. Interestingly, there are scenarios where blending two methodologies proves to be highly effective. This hybrid approach can leverage the strengths of each methodology, providing a more tailored and efficient way to manage and execute projects. Agile methodology is also highly beneficial for various sectors beyond software development.

The critical path method was developed in the late 1950s by Morgan R. Walker of DuPont and James E. Kelley, Jr., of Remington Rand. DuPont was already using a precursor of CPM as early as the 1940s, and it was applied to the Manhattan Project. With this information, you can identify the longest sequence of tasks to finish the project, which is called the critical path.

How Scrum project management works

Project management methodologies and project management frameworks are often used interchangeably. The project management framework provides structure and direction to a project. However, unlike project management methodologies it is neither too detailed nor too rigid.

When you string these dependent tasks together from start to finish, you plot out your critical path. Regularly reassess your processes with the goal of eliminating waste and maximizing efficiency. Once the tasks are delegated, team members will move these cards across sections depending on the task status. This method helps teams minimize resources and make changes in the project as and when the demand arises. While the agile methodology has a number of advantages, it has its fair share of drawbacks as well.

Project management methodologies: 12 popular frameworks

Tools like Microsoft Project and Asana are well-suited for this methodology. These platforms offer features like Gantt charts and detailed project planning capabilities, which align perfectly with waterfall’s sequential and phase-based nature. They allow for clear documentation of each stage, resource allocation, and timeline tracking so that each phase can progress as planned. Waterfall emphasizes thorough planning and documentation and makes sure that every project detail is well-defined and understood by all team members from its commencement. The waterfall method is particularly effective for projects where changes are unlikely or costly, as it does not easily accommodate mid-project adjustments. This methodology’s clarity and predictability make it a reliable choice for projects with well-established parameters.

Therefore, Agile is best for small teams where developers and stakeholders are on the same page about business needs and constraints. Cards are moved from one step to the next as they progress through the process. The Project Management Institute’s Project Management Book of Knowledge (AKA the PMI’s PMBOK) isn’t a project management methodology in and of itself.

Basic principles of the PRINCE2 methodology

Popular frameowkrs such as Scrum and Kanban stem from Agile, which acts as an umbrella term that encompasses several different frameworks. To learn more about Scrum and Kanban, check out The Ultimate Beginner’s Guide to Scrum and education project manager How to Better Manage Your Projects with Kanban Boards. In the next section, we outline everything you need to know about the project life cycle. Kanban is another framework for implementing Agile based on a team’s capacity.

This organization produces a book called the “Project Management Body of Knowledge” or PMBOK. The PMBOK provides definitions and guidelines for project planning, scheduling, executing and controlling. For example, the project management process groups describe the project life cycle, while the 10 project management knowledge areas explain how to manage a project. If you manage projects, you need to learn about project management methodologies. Here’s a quick overview of the most commonly used project management methods that you can use.

The Waterfall methodology is well suited, for example, for projects in production that primarily involve sequential processes. These sequential phases and processes are often visualized in Waterfall project management using Gantt charts. All tasks of the project are processed according to the fixed sequence of the Waterfall project management methodology. As you can see from this approach, the lean method does not have much in common with the project management methods mentioned so far.