You must make a decision somewhere in project planning. The best project management method is essential. It may prove difficult to make changes later. You only have one chance. [iStock/AlexLMX] The biggest problem with all methods is that they are commercialized to some degree. Even if they were created by non-profit organisations. You will only hear about the benefits and advantages of project management methodologies. It could have been a lengthy and complex comparison. I don’t think we should compare methodologies. It’s like comparing a saw and a hammer. These tools are different tools for different purposes. Let’s discuss the positive and negative aspects of each.
Before you do that, I want to be exact with terminology.
Frameworks, Life Cycles and Methodologies
You will find a lot of information when you search for “Project Management Methodologies”. Framework, approach, methodology and life cycle are all terms that can be confused. Let’s first clarify this.
A Project Life Cycle is a sequence of phases through which a project moves from the beginning to the end. To ensure that we have control over the project, we usually divide it into phases. To put it another way, to make a project easier to manage. The industry and the nature of a project also have an impact on the life cycle.
A Project Management Framework is a collection of concepts that can be used to achieve a project’s goal. Each framework is built on a set principles that provide some benefits to the client, the project team, or both. These principles have their limitations.
All frameworks share the same concepts of planning, execution, and delivering results. Frameworks, on the other hand, identify a specific set of values. A framework can be used to describe a person’s ability to adapt to change or to predict the cost and time it will take to deliver a result.
Specifics of a framework can be dictated by the project life cycle. Is it a life cycle that is more important than a framework? It all depends on the nature and purpose of a project or organization.
Project Management Methodology is simply a set of processes, roles, artifacts, and strict processes. A methodology is designed to implement a project within a specific framework. One framework might have several methods.
Many methodologies have a defined life cycle. This is because both a project management method and a company can change it.
How do you choose the right project management method?
Understanding the differences between methodologies and their prerequisites is essential. It is important to be aware of the strengths and weaknesses of each.
It is important to examine how your organization operates. Is it equipped with the right environment, skills, and technical tools to implement a particular methodology? Identify the most popular methodologies. Make a list.
It is important to consider the nature of the project, industry details, regulations, and constraints. You might also consider the type and length of the contract you are working with.
It is important to assess your ability to adequately define the requirements for a project’s end result. It includes the ability to achieve project objectives and meet stakeholders’ expectations. They could change throughout the project’s lifetime. You need to determine the best way to manage these changes.
Define the best method that meets the needs identified in points 1-4.
Underlaying Values
The traditional or predictive approach focuses on identifying the project scope, costs, and duration early. Changes are avoided and closely managed. The central principle of the project team is to plan before you act.
The predictive approach is a method of developing a project in a systematic manner. From project inception through planning, then execution and closure. This is preferable when the product being delivered is clearly understood. This method is preferred when the product is fully delivered.
The principles of adaptive, change driven or agile approach are based on the principles des