The document outlines various project management methodologies and frameworks, emphasizing that the choice of framework affects project success and market share. It discusses seven key frameworks, including Agile, Kanban, and Waterfall, and provides guidelines for selecting the appropriate framework depending on project characteristics and organizational needs. The benefits of adopting a project management framework include improved collaboration, increased productivity, and streamlined processes, ultimately leading to higher quality project outcomes.

1. What is Project Management
Framework

2. • Project management methodology is a set of techniques that helps in
evaluating and planning the project. The success of the project
depends on how it is executed. Choosing an appropriate project
management methodology will help in executing the project with
ease.

3. • The latest proprietary project management frameworks increase the
market share for many organizations. There is no single solution that
will provide massive profitability, but the approach is finding what
works for you.
• Projects with the latest developments- functionalities in project
management. Make sure to choose a framework that fits your
organizations needs for optimized control over projects. The benefits
are faster time to market, less lead time, less number of iterations,
high performance, fewer overheads, and high-quality products.

4. Overview of Project management framework
• Project management is a combination of tools, strategies, principles,
processes, and methods from various frameworks such as PMBOK
and Prince2. It is the project manager who must be certified in these
areas and learn other concepts to deliver successful projects.
• The constraints which are to be controlled include costs. For example,
consider a project for a global multi-national, developing an
application in the US with hiring in India and part of development
taking place in Israel.

5. 7 project management frameworks
• The 7 project management frameworks are as follows,
• Agile Project Management
• Critical Chain Project Management (CCPM)
• Kanban Methodology
• Lean Project Management
• PRINCE2 Methodology
• Scrum Methodology
• Waterfall Methodology

6. Guidelines in choosing the project
management framework
• If you have a fast-changing environment such as products, technology or
industry then a more adaptable framework like XPM or Scrum is chosen
• If the products or services that are intangible such as software are not well
defined then sprint approach is chosen
• For prince2 or waterfall methods, the projects must be stable and well
defined and planned out in its entirety decreases risks
• If the organization has not chosen one of the project models such as XPM
before then choosing that would be risky.
• If waste is the critical concern then choose the lean framework
• It is even possible that you may be picking the ideas and principles from
more than one framework in a particular project, and that should be fine

7. Benefits of Project management framework
• The project framework helps you in making the projects consistent, repetitive,
and uniform to deliver the value each project is started for.
• Some of the benefits of the project framework are as follows,
• Improving collaboration and coordination in the organization, as well as
communication.
• It increases productivity by allowing the projects to create value without fail.
• Knowledge sharing increases all over the organization with repositories and
knowledge base.
• It streamlines the processes and the management across the organization
• By the creation of plans and templates, it enhances the accessibility and
efficiency.
• It provides the competitive edge to the organization adopting the framework by
curtailing the shortages to the parameters such as time, scope and cost

8. Best practices of Global Project management
framework
• The best practices of the project management framework are divided into
5 categories as shown in the diagram below and are also listed below.
• 1. Global team management - This takes into account the different
cultures, time zones, and locations.
• 2. Global organizations - You need to make use of global locations across
the border for the project work
• 3. Global communication - You need to open the channels of
communication between the various collaborators.
• 4. Collaborative tools - To open the communication and project work
across the geographies, you need to use collaborative tools.
• 5. Collaborative techniques - This is based on the tools that you use to
collaborate with global teams.

9. Which project management framework you
will choose
• We have discussed here various Project management frameworks
how they impact the projects and what are the benefits and
implementation plans.
• Knowledgewoods is a training institute which provides online-based
training for all the certifications such as PMP Training from PMI.
• knowledgewoods is an authorised training centre for PMI
certifications. To enquire click on the links provided which will take
you to the various certifications page for registrations and for
providing more details.
• Happy managing your project and team!!!