Top 7 Project Management Methods and Their Competitive Advantages

A project is used when a firm want to achieve a certain goal or objective. On the off chance that you need to make your tasks stream speedier and with less squandered exertion, there are an assortment of project management methods you can utilize. Despite the fact that all methods of project management have their own points of interest, they may not have any significant bearing to the tasks your group is taking a shot at. It's likely insightful to altogether audit every philosophy excessively check whether it fits well with your task.


project management methods

 

Methods of Project Management

Remember that you can simply adjust your group's work process when it doesn't flawlessly coordinate up. That way, you can increase the project management method’s effectiveness. The list of top 7 project management methods are as follows:

.

Waterfall

Conventional, or "waterfall" project management handles things consecutively, from the idea and arranging stage through to advancement and quality certification lastly extend consummation and upkeep. Project requirements are typically characterized toward the starting, with next to zero modifications to the arrangement unless completely essential. The waterfall system is utilized frequently for large scale programming improvement projects where exhaustive arranging and an anticipated procedure are foremost.

Agile

Agile project management concentrates on versatility to changing circumstances and steady, standard feedback whether it's from the customer or from different individuals from the group. This is perfect when customers or administration should be in on the creation procedure, bringing about changing requirements and intense movements in group assignments. Agile management is normally perfect for smaller programming projects.

Prince 2

PRINCE2 is an administration embraced project management method, discharged and upheld by the UK government in 1996. It is an exceptionally procedure situated philosophy, partitioning projects into various stages, each with their own arrangements and procedures to take after. Like PRiSM, PRINCE2 requires accreditation by means of exams. PRINCE2 is a complicates yet exhaustive system, yet the undertaking supervisor needs to figure out if or not it will scale appropriately with their particular requirements.

Critical Path

The critical path project management technique is equipped more towards taking care of asset issues. This setup is perfect for asset-heavy groups, or for the individuals who have enough adaptability in their colleagues' particular skill sets.

Prism

Projects Integrating Sustainable Methods (PRiSM) was produced by GPM Global as a method for making a procedure that considered ecological elements while being a repeatable, proficient procedure that could without much of a stretch be fused into different substantial scale projects. PRiSM is extraordinary in that it is one of only a handful few project management philosophies that requires and rewards project chiefs with accreditation. PRiSM is utilized basically for substantial scale land improvement or development/framework extends that may bring about unfavorable natural impacts.

Scrum

Scrum is an iterative task administration philosophy that flourishes in circumstances where requirements continually move. Scrum conveys items in short cycles that consider fast input and a quick reaction to change. Groups work off of time units called "sprints", which can go from a week to a month. Every spring must end in a usable item. Sprint additionally underlines a solid group dynamic, with consistent and close joint effort between colleagues, and the absence of a traditional project manager.

Lean

Lean project management concentrates on conveying more esteem with less waste in the undertaking environment. It fulfills this by enabling individuals and making a domain of self-responsibility. It likewise depends more intensely on procedure than some different systems, particularly the ideas of institutionalization and work breakdown structure, which can streamline group work processes. Lean Project Management is regularly utilized by task chiefs working under spending cuts or different requirements, in spite of the fact that the standards can conceivably profit any kind of undertaking.

Conclusion

To conclude, for a project to be successful, it needs to undertake the right management method. After you study online project management courses or study online diploma in project management, you will be able to consider the optimum situation for many organizations. The above listed project management methods can be utilized by project managers all over the world.

Our Students Say!

Islamic Finance studies at AIMS remained very beneficial for me in negotiating the best suited Sharia compliant financial products for my company and other financial dealing related to bank. While dealing with Islamic banks, I found that most of the officials even at top level are not fully conversant with the Islamic financial products and Islamic modus operandi of handling the situation. Sometimes they deal this products/situation in purely conventional way. Attaining knowledge through AIMS developed an analytical approach in me to advise the company management for working in Shariah compliant environment.

Muhammad Tahir Chouhan Qatar