Top 7 Project Management Methodologies to Speed Up Your Workflow!

Project management is a dynamic field that requires a variety of methods. Applying different methodologies is one of the most vital project management steps. There are waterfall, agile, scrum, lean, six sigma and PRINCE2 methodologies available to make the project successful. 

Whether you are working on a small or large-scale project, having the correct project management methodologies can speed up your workflow and success. Hence, they frequently come with their own set of rules, lists, and ideas. You can become an expert in your field through understanding the most common project management methods. 

Therefore, we created this list of various project management methodologies to assist you in determining which methods, principles, and approaches are appropriate for each team and project. READ ON!

Make sure to check: How to Get a Project Management Professional Certification?

Project Management Methodologies

A project management methodology is a set of ideas, tools, and strategies for planning, executing, and managing projects. Project management approaches help project managers in leading team members and managing tasks while promoting teamwork.

Top 7 Project Management Methodologies

There are 7 Project management methodologies, which include:

1. Waterfall Methodology

2. Agile Methodology

3. Scrum Methodology

4. Kanban Methodology

5. Lean Methodology

6. Six Sigma Methodology

7. PRINCE2  

1. Waterfall Methodology:

The Waterfall methodology, often referred to as the Waterfall model, is a sequential development process that proceeds like a waterfall through every stage of a project.

The Waterfall approach comprises five stages: 

1. Requirements

2. Design

3. Implementation

4. Verification

5. Maintenance

The Benefits of Waterfall

• Project stages are clearly defined
• Excellent documentation and planning
• Ideal for tasks with consistent criteria
• Progress is easier to control and monitor

2. Agile Project Management Methodology:

The Agile project management method is one of the most widely used project management processes. However, Agile is not a technique. Instead, it is best defined as a project management principle. 

The following is the foundation of an Agile approach:

• Collaborative
• Quick and efficient
• Iterative and data-driven

The Benefits of Agile

• Enhanced capacity to adapt to changing project needs
• Increased team member collaboration
• Faster project completion
• Improved client satisfaction

3. Scrum Methodology:

The Scrum method employs brief “sprints” to establish a project cycle. These cycles last one to two weeks and are run by teams of ten or fewer people. This is opposite to the waterfall method, in which individual tasks are divided into responsibilities.

Although Scrum is a project management methodology, it is most usually linked with an Agile framework. This is due to the fact that they hold similar ideas, such as teamwork and valuing people above processes. 

The Benefits of Scrum

• Improved communication and teamwork within the team
• Clarify project objectives and priorities
• Improved problem-solving ability
• Effective resource management

4. Kanban Methodology:

The Kanban methodology uses visual components, primarily boards, to depict project delay. Agile teams employ this strategy to lessen the possibility of barriers while improving workflow visualization and project progress. Although it’s not necessary, it’s also frequently in the shape of a software tool that enables you to switch between and drag boards within projects. 

The Benefits of Kanban

• Improved understanding of project progress
• Efficient use of resources
• Reduced delays and obstacles
• Increased team output

5. Lean Methodology:

Lean project management reduces waste and establishes a clear framework for project requirements. In order to improve productivity and teamwork, this ultimately means doing more with less. 

The Benefits of Lean Methodology

• Elimination of activities that don’t offer value
• Simplified methods
• Quality improvement and defect reduction
• increased focus on the customer’s needs

6. Six Sigma Methodology:

Six Sigma is utilized for quality management and can be referred to as a perspective rather than a conventional methodology. It is frequently used together with either a Lean methodology or an Agile framework, also known as Lean Six Sigma and Agile Six Sigma. 

Six Sigma’s major goals are the continuous improvement of processes and the eradication of flaws.

The Benefits of Six Sigma

• The goal of the Six Sigma methodology is to assist you and your business in simplifying operations to reduce overall waste.
• You can further utilize efficient processes thanks to it in addition to helping you decrease waste
• Although it might seem too good to be true, the same method that saves you money will also shield you from future legal costs
• Six Sigma may be used in almost every business, which is one of its best features

7. PRINCE2:

PRojects IN Controlled Environments, often known as PRINCE2, uses the general waterfall methodology to specify project stages. It was first developed by the UK government for IT efforts, and it continues to be preferable to conventional projects with a focus on a particular product or market for large IT undertakings. 

The PRINCE2 are based on 7 principles such as:

1. Beginning a project

2. Managing a project

3. Opening a project

4. Managing a project

5. In charge of product delivery

6. Managing the stage’s perimeter

7. Project completion

The Benefits of PRINCE2

• Improved project oversight and control
• Optimal risk management
• Improved use of resources
• Putting a higher priority on business justification

You may also check: 5 Project Management Steps to Elevate Company Success!

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