Professional Documents
Culture Documents
Its no secret that in the project management industry, project failure is a recurrent problem.
Complex in origin, prevalent project failure can be attributed to many different sources, from companies enforcing
overly optimistic project deadlines to inadequate project management.
As a project manager, there isnt much you can do to change the outside factors affecting your project, but you can
mitigate their effects on your project, and give your project the best chance of success through proper project
management.
An effective method to streamline and structure your project management processes is by following a formal project
management methodology. A Project Management methodology is essentially a model that Project Managers follow for
the design, planning, and implementation of their projects. There isnt one best project management methodology to
use as each of them comes with their advantages and disadvantages.
The worst thing any Project Manager can do is become too complacent in a single project management methodology
and try to apply that same methodology to every project. Often project management methodologies are as idiosyncratic
as each project and trying to force your favorite methodology onto every project, just because youve had a row of
successes with it, can be as much of a recipe for disaster as not using a methodology at all.
Its wise that in the planning stages of your project, to thoroughly assess the relative merits of each methodology against
the requirements and objectives your project. Adaptability is a core competency for any project manager, even if a
methodology doesnt suit your project exactly, many are flexible enough to adapt to a specific project and project team.
Following is the list of the five most popular project management methodologies used today, and when they are most
effective.
Waterfall methodology is most often applied to large software development projects as thorough planning and
predictability are paramount to the project process and success.
Agile Project Management
Agile and Waterfall are at the opposite ends of the project management methodology spectrum. Whereas waterfall is
sequential and predictable, agile project management works on the premise of adaptability and reacting to regular
feedback whether from a client or team member.
Agile project management is best utilized when a project requires constant input from the client or management, as this
often results in flexible requirements and role responsibilities. Its most popular with smaller projects or projects with
fast paced development schedules.
Critical chain is useful for teams that either has plenty of resources or enough flexibility within their teams skill sets to
allow a resource driven project plan.
PRiSM
Project management is never one to shy away from a good acronym, and PRiSM is one of the most well-known.
Meaning, when broken down, Projects integrating Sustainable Methods, PRiSM was developed by GPM Global to
create a sustainably driven methodology that could adequately consider environmental factors, as well as act as an
efficient, large-scale, project structure.
Unique, as it is one of the only project management methodologies that requires accreditations, PRiSM is largely used
within real estate development or construction projects that may be problematic for the environment it is situated within.
PRINCE2
PRINCE2 is touted as a government endorsed project management methodology and is used as the industry standard
across much of the private and public sector in the UK and beyond. PRINCE2, is one of the only other methodologies,
alongside PriSM, which requires certification. However, PRINCE2 offers a multitude of courses that are scalable to both
your experience and the level of organization the project requires.
Extremely process oriented, requiring each stage of the project to follow its plan and system of processes, PRINCE2 is
one of the most complex, yet thorough, methodologies. Due to its vast approach, and its focus on building a range of
strong project management skills and applications, PRINCE2 is workable in the majority of project situations.