PM Methodology

The Project Management Methodology is a Principle or a process were they are used to Plan, Manage and to execute the project in an effective way. Based on the Methodology which you Choose, will determine how your project is going to be prioritized and Completed.
There are several Methodologies used in project management, in-order to make your project more effective.
Let us discuss it one by one….,

Methodologies:

•Waterfall Methodology
•Agile Methodology
•Scrum Methodology
•Critical Path Methodology(CPM)
•Kanban Methodology
•Lean Methodology
•Six Sigma
•Prince2

Waterfall Methodology:

 This may be the most straightforward and linear of all the project management methods in this list, as well as the most traditional approach. The name is apt, as the waterfall methodology is a process in which the phases of the project flow downward. The waterfall model requires that you move from one project phase to another only once that phase has been successfully completed.

Agile Methodology:

 Agile project management is an evolving and collaborative way to self-organize across teams. When implementing the agile methodology, project planning and work management are adaptive, evolutionary in development, seeking early delivery and are always open to change if that leads to process improvement. It’s fast and flexible, unlike waterfall project management.

Scrum Methodology:

 Scrum is a short “sprint” approach to managing projects. The scrum methodology is It’s ideal for teams of no more than 10 people and often is wedded to two-week cycles with short daily meetings, known as daily scrum meetings. It’s led by what is called a scrum master. Scrum works within an agile project management framework, though there have been attempts to scale Scrum to fit larger organizations.

Critical Path Methodology(CPM):

 In the critical path method (CPM), you build a model of the project, including all the activities listed in a work breakdown structure, the duration of those tasks, what if any task dependencies there are and marking off milestones to indicated larger phases of the project or points in which your project deliverables are due.

 Kanban Methodology:

The Kanban methodology is a visual approach to project management. The name is literally billboard in Japanese. It helps manage workflow by placing tasks on a Kanban board where workflow and progress is clear to all team members. The Kanban methodology helps reduce inefficiencies and is a great project management tool for many purposes such as lean manufacturing or agile projects.

Lean methodology:

Lean project management is what you’d think it is from its name: a way to cut waste and in so doing increase value in projects and manufacturing processes. So, lean focuses on eliminating waste from key processes to continuously be impacting positively on the value stream. It does this by optimizing separate technologies, assets and verticals.

Six Sigma:

 Six Sigma works to improve quality by identifying what is not working in the project. It applies quality management, including empirical statistics, and employs personnel who are experts in these disciplines. There is also a Lean Six Sigma that adds lean methodology to eliminate waste.

 Prince 2:

 PRINCE2 stands for Projects IN Controlled Environments and is a structured certified methodology. It was initially created by the UK government for IT projects. PRINCE2 is not like other traditional methods like waterfall, in that it’s not a one-size-fits-all solution, but follows seven principles, themes and procedures.