Well-managed projects not only guarantee that they are in line with your company’s business goals, but also provide a thorough strategy for reaching those goals. It sets attainable goals for each project stage, holds the team accountable for achieving them, and ensures proper and timely completion. Managers closely monitor everything, minimize risks, and adjust the project scope as necessary. You can evaluate the success of a project and the lessons you took away from it after you’ve finished working on it. Read on to discover everything there is to know about types of project management and to become a subject matter expert on it.
A project is an endeavor performed to achieve specific aims and objectives, typically to enhance or add value. It has a defined beginning and end, usually constrained by time, money, or people. Repetitive, long-term, or at least intermittent tasks that result in tangible output constitute normal operations. However, projects don’t last forever. Overseeing production processes that vary widely requires different technical skills and managerial approaches. Read extensively about structure of project management to learn more.
Top 10 – Types of Project Management
Despite the widespread belief that localization project management is an altogether independent subject of management, it actually involves applying many of the same classic project management principles to translation tasks. Every single government initiative is overseen by public project management. Any number of government departments or private businesses could be responsible for these duties. Whether a project is hard (physical) or soft (non-physical) is another way to classify it. Take a look at these types of project management to expand your knowledge.
Kanban
Kanban is an agile method that prioritizes order and prioritizes the continuous flow of work. The Kanban method divides the work into subtasks and phases according to the underlying process. This kind of project management allows for adaptation, puts an emphasis on productivity, and clearly demonstrates the development of work.
Kanban boards allow a project manager to quickly and visually assess the current state of a project at any given time. To-do items, work-in-progress, and finished items can all be easily tracked with its help. Both the project team and the client can keep tabs on tasks with the help of these Kanban boards.
Kanban’s main advantage is that it helps teams set priorities and make plans to meet their deadlines. Some team members’ clumsy usage of the board increased the risk of development process mistakes. A management will use a Kanban board or cards for projects requiring constant tweaking.
Scrum
The agile concepts at the heart of Scrum make it a useful framework for managing projects. Using the scrum method, self-organizing teams may build large-scale projects. Fearlessness, dedication, concentration, respect, and transparency are the cornerstones of Scrum. Scrum aims to enhance team collaboration, increase speed, and improve communication. It involves breaking up work into manageable “sprints.” Because of this, the project manager may talk about everything at once.
It’s amazing that at the end of each sprint, both clients and team members may see the work that has been accomplished and provide feedback. A member of the team can make any necessary adjustments before moving on to the next sprint. This lessens the need for rework, making it easier to finish a project on schedule and on budget.
One of the benefits of the scrum approach is that it allows team members to specialize on different facets of the project. Without documentation of their efforts, it may be challenging to identify a suitable substitute for a worker who suddenly quits in the middle of a project.
Prism
Prism, the project integrating sustainable model of project management, enables sustainability in all aspects of project execution. The corporation and the world at large both benefit from this.
PRiSM is used by businesses that prioritize sustainability, social responsibility, economic growth, and quality of process and product. In their pursuit of several goals, businesses might utilize this strategy to lessen their impact on the world around them. Various types of project management methodologies cater to different project needs and complexities.
Waterfall
The waterfall model is a traditional project management method based on a specific order of steps. A project manager’s first order of business is to assess the project’s scope and design a strategy. The project management approach is similar to a waterfall in that it entails a predetermined order of activities. Members of the team might, for instance, wrap up one phase of an assignment before moving on to the next. The need of documentation cannot be overstated in light of this tactic.
The primary reason for documenting processes is so that if an employee leaves in the middle of a project, their replacement can pick up where they left off. The cascade process ensures everyone knows their role and tasks. However, a major drawback is that the customer cannot see the product until the team finishes it. Project managers commonly use Waterfall for time-sensitive, high-stakes endeavors like government and military projects.
Prince2
Businesses and governments widely use PRINCE2 due to its emphasis on efficiency and risk minimization. This method breaks down large projects into manageable chunks, ensuring that every detail is addressed.
Sigma 6
Six Sigma is a strategy for managing quality that centers on preventing and fixing bugs in product development. The first step in this process is to pinpoint what went wrong so it can be fixed. This method ensures that the project continues to meet high standards.
Project managers use Six Sigma, a set of quality management strategies grounded in empirical data and scientific study, to enhance project outcomes. One of the most popular types of project management is the Waterfall approach, which follows a linear, sequential process from start to finish.
Agile
The iterative stages and phases that make up a project under the agile methodology. When one step of a process is finished, the group moves on to the next. Most projects have three to five iterations, or “sprints,” during which the team analyzes its progress and makes improvements based on predetermined criteria.
Agile, a project management style created in the 1970s, is based on the idea that a corporation may become more adaptable by working in short, iterative “sprints” of development. Teams can make instantaneous changes based on repeated analyses of each sprint.
Lean
Lean is a strategy for managing projects that places an emphasis on speed and effectiveness. Using lean, a project manager can get more done with less manpower. The ideals of Mura, Muda, and Muri, as well as collaboration, are emphasized in this approach. Mura aims to standardize the workload by removing unnecessary factors, whereas Muda eliminates inefficient practices. Muri facilitates the elimination of unnecessary work, reducing stress and fatigue.
CPM
By using CPM (Critical Path Method), you can compile a list of activities with complex stages and their interdependencies. Then, you can target the most difficult and time-consuming parts of the project for improvement.
Teams estimate the time required to complete each project step and the necessary human resources using CPM. This makes it easier to develop the project’s overall strategy and gives the client a more reliable estimate of completion time. Agile project management is another prominent types, emphasizing flexibility, iterative development, and continuous customer involvement.
CCPM
When comparing CPM with CCPM (Critical chain project management), it’s important to note that CPM prioritizes time while CCPM prioritizes resources including people, space, and equipment. Implemented after creating a project plan and identifying task dependencies.
This allows project managers to pick their team and resources while staying within their financial means. Because of this strategy, multitasking will be more difficult. Instead, it concentrates on what really matters.
FAQ
What are the Risks of Inadequate Project Management?
Ineffective project management has far-reaching consequences for any business. As a result, the team dynamic suffers, people become resistant to change, and accountability suffers as well. Obviously, this has an effect on how satisfied customers and other interested parties are.
What is the Primary Goal of Managing a Project?
Project management aims to achieve the project’s intended outcomes by meticulous planning and supervision. To accomplish this, many different groups and organizations must work together and communicate effectively while also identifying and mitigating potential threats.
Why do so Many Projects End in Failure?
Phased, lean, iterative, and progressive approaches are just a few of the many options for structuring and accomplishing project activities. The Project Management Institute found that shifting organizational priorities, inaccurate requirements collecting, and refocusing on the wrong outcomes were the most common reasons for project failure.
Summary
Scrum is an Agile methodology that is ideal for large-scale collaborative projects. It’s a common practice for making technology advancements like software. The sequential waterfall methodology excels at projects with clearly defined goals and boundaries. Projects with clear goals and a comprehensive to-do list benefit the most from this method. In conclusion, the topic of types of project management is complex and has a huge impact on many people.
