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What is Project Management?

What is Project Management?

Project management is about knowing exactly your goals, how you will achieve them, what resources you will need, and how long it will take you to accomplish that specific goal. The purpose of project management is to ensure that all project participants are aware of them and are aware of the intention of the project.

The discipline itself is an organised way of managing a project from start to finish. All projects need a structure. Therefore, the complexity and duration of the project are equivalent to a more complex and detailed project plan.

Almost all projects go through the following stages during their life cycle:

  • Find out what the client needs to set their project goals.
  • Make a plan that tells you what needs to be done, who will do it, how much it will cost and when the project will end.
  • Start working.
  • Check that the work is progressing according to the initial plan, identify problems and make corrections.
  • Complete the project and close all contracts as soon as you get the client’s approval.

People have been “running projects” for centuries. They have gone from traditional tools such as pencil and paper to advanced technology. There are now customisable tools used in project management for multiple projects to simplify and facilitate the entire workflow of small teams.

The “project manager” is responsible for the planning and execution of the project. He makes sure that everything is in line with the client’s vision and quality standards. He will also be responsible for the success or failure of the project.

What is Project Management Methodology?

Project management methodology offers a clear project roadmap that lists all the steps required to deliver a project successfully. These methodologies provide a defined governance structure, process guidelines, test activities, processes, and deliverables.

6 Types of Project Management Methodologies

Agile Project Management

The Agile Project Management methodology is an iterative, people-centred approach to project management, which focuses on responding to change after detailed planning.

It reduces project complexity by dividing the project cycle into smaller parts, allowing changes in later stages. To be an Agile project, you must follow the core values ​​and fundamental principles outlined in Agile.

Six Sigma Project Management

 Six Sigma was first introduced by engineers at Motorola in the mid-1980s, and Six Sigma improves quality by identifying what is wrong with a project. Implement quality management, including empirical statistics, and hire expert staff in these disciplines. There is also Lean Six Sigma which adds poor waste disposal methodology.

As a principle, it is said that continuous efforts to achieve stable and predictable results are most important for success. Processes can be refined and improved. It takes the whole organisation, from top to bottom, to support the quality of a project.

Waterfall Project Management

Waterfall as a type of project management is practically an extension of the traditional model. It is essential that the team members are in good contact with each other; the tasks should be done one by one. Therefore, it depends on the degree of completion of other tasks: being late in one part of the project will affect the rest. 

Typically, a team member performing their own tasks allows others to perform the tasks assigned to them. The project manager is required in this type of project management to be incredibly attentive to the program and the dependencies between the tasks.

PRINCE2 Project Management

PRINCE2 stands for Projects in Controlled Environments, and it is an approved structured methodology. The UK government initially created it for IT projects. PRINCE2 Project Management differs from other traditional methods, such as Waterfall, in that it is not a one-size-fits-all solution, but instead follows seven principles, themes and procedures.

When the UK government adopted standards for computer systems in 1989, it turned to PRINCE. PRINCE2 appeared in 1996 as a more general way to manage projects. It is now a standard methodology for project management across all UK and UN government agencies.

Critical Chain Project Management

Critical Chain Project Management (CCPM) helps project managers execute projects quickly and cost-effectively, keeping resource and task dependencies in mind. Identifies strategic points in project planning and provides buffers to ensure that each phase of the project is reached on time, despite limited resources and project uncertainty.

The first step in identifying the critical chain is to discover the critical path. Then download the resources along the critical path. This may or may not result in a change in the critical path, depending on the resource crisis.

Scrum Project Management

Scrum is one of the types of project management derived from the Agile approach, and there are many similarities between Agile core and Scrum project management. However, there are some changes or improvements that allow for better efficiency in project management.

Based on Agile, Scrum is an iterative approach: sprints are used for a certain period. Together to evaluate the most critical tasks in a given iteration and the main goal is to finish before the end of the race.

The project manager must ensure that the work process of the project is as simple as possible by forming small teams, who will be responsible for specific tasks. They created teams to communicate with Scrum Master in terms of progress of missions and results.

About the Author

I’m Sudheer Patel, an enthusiastic Digital Marketer and content writer working at Mindmajix.com. I wrote articles on the trending IT-related topics, including Big Data, Business Intelligence, Cloud computing and Project Management Training. You can reach me on LinkedIn.

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