A project management methodology is a set of principles to plan, manage and execute projects effectively. Different methodologies are used for different project requirements. This blog throws light on some of the methodologies and instances of their usage.
Top Project Management Methodologies
- Waterfall Methodology
In this method, the project is executed from one phase after another. The second phase is not started before the first is finished, likewise the third is not started until the second is completed and so on. For example, the first floor of a building cannot be constructed until the ground floor is done.
In such instances the Waterfall Methodology is used – it works well for manufacturing and construction projects.
- Agile Methodology
- Scrum Methodology
Like the Agile Methodology, this also a collaborative approach the intent of which is to implement the best idea. The cycles are just shorter, generally around 2 weeks.
It is ideal for smaller teams and can work within the agile framework; in fact, Scrum is often considered a type of Agile Methodology.
- Lean Methodology
The Lean Method is a technique to cut down on wastage and in the process, increase value in the projects or products. It can be done by optimizing technologies, assets or other verticals of the business.
It was first developed by Toyota and has then been adopted by many startups as well as big giants.
Some other methodologies include Six Sigma, Extreme Programming (XP), Kanban and Critical Path Method. Our team is well versed in Agile and Scrum methodologies as it is the most often used for innovation in the IT industry. To understand our methods better, you can book a free consultation with us!
This methodology is very commonly used in software development. It is a collaborative technique used across teams to self-organize and create the mean viable product first and then improve upon it continuously.
It’s also applied to non-software products and/or industries that require innovation and experimentation amidst uncertainty, that is, the best idea needs to be adopted. Some examples of industries where the agile methodology has been adopted include vehicles, computers, clothing, medical devices, food, etc.