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16 Popular Project Management Methodologies (Infographic)

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https://www.wrike.com/blog/09/29/2014/Project-Management-Methodologies-Infographic - We cover 16 popular project management methodologies by distilling the essentials into an infographic that's easy to reference and share with colleagues.

Whether you're new to Project Management, or simply want to review options for your next project, check out our crash course in PM methods.

For more on project management basics, check out our ultimate guide to PM: https://www.wrike.com/blog/09/16/2014/The-Ultimate-Project-Management-Guide

Published in: Leadership & Management
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16 Popular Project Management Methodologies (Infographic)

  1. 1. Popular Project‘ . ement IIIETHOOOL IES If you're new to Project Management. the number of different IO We've broken 16 common project management methodologies into bite—sized pieces to help you choose the best approach foryour next project. methodologies [and acronyms] can be mind—boggling. ADAPTIVE PROJECT FRAMEWORK (APE) Improves the project at every stage by learning from the previous stage's results. By defining project goals and regularly reviewing project scope, managers can deliver the highest possible business value for the customer. BENEFITS REALIZATION Defines success as achieving a desired benefit. If clients want to increase sales by T5°/ o and hire you to develop new CRM software, the project isn't complete until sales are up T5°/ o - even if you deliver the desired (RM on time and within budget. AGILE Adapts to change, capitalires on trends, and creates a dynamic team through collaboration and flexibility. Stakeholders review the project at each stage so teams can make the right a fl adjustments, creating high-quality products . . . . . . . . . that meet customer need. CRITICAL CHAIN PROJECT MANAGEMENT (CCPM) Avoids project delays by identifying a "critical chain" of tasks, I reserving resources for those tasks. Since schedules are built around resource availability the project timeline may be longer, but there's less chance of missing importam deadlines. CRITICAL PATH METHOO (CPM) Determines your project's shortest timeline so you can adjust to shifting deadlines. By identifying the project's most essential tasks, you can estimate completion dates, dependencies, milestones, and deliverables. And compare what should be happening with what is happening every day. EVENT CHAIN METHODOLOGY (ECM) Helps recognire and plan for potential risks. Monte Carlo Analysis and Event Chain Diagrams help determine the probability of certain risks and their potential impact. Visualiring the relationship between external events and project tasks helps create realistic plans. EXTREME PROGRAMMING (XP) E H Features short development cycles, frequent releases, and open communication with stakeholders. Teams focus on collaboration and efficiency, writing the simplest possible code to produce the desired feature, avoiding burnout and low-quality deliverables. KANBAN Produces a slow and steady stream of deliverables through continuous workflow. Managers often use a whiteboard or sticky notes to represent progress and uncover process problems. By understanding where time is wasted, teams can improve productivity. LEAN LEAN SIX SIGMA Delivers high-value, high-quality work with less Combines Lean's efficiency with Six Sigma's manpower, money, and time. Lean cuts waste by statistics-based process improvement. By eliminating bottlenecks, focusing on customer defining how work actually gets done, teams value, and continually improving processes. Use eliminate waste and focus on delivering the Lean to cut budgets, meet quick deadlines, and highest possible value to clients. get big results with a small team. PRISM (PROJECTS INTEGRATING SUSTAINABLE METHODS) Blends project planning with environmental sustainability measures. Want to go green? PRiSM is for you. Reduce energy, , waste management, and distribution costs, all while reducing $ ‘ S your environmental footprint. PRINCE? (PROJECTS ‘A PROCESS-BASED PROJECT IN CONTROLLED ENVIRONMENTS) / MANAQEMENT Ensures that every project has business IU5nfi¢nn°n nnd WI" ¢°n"IIW'9 V°I"°- Guarantees every project furthers the company's mission. Before Plnnning n°9in-5 bY idennlling 0 den’ project kick-off, the plan is analyred to see if it will live up to the need: lnlilelen ‘"5'°'n°'r '°n“5n¢ mission statement; if not, all strategies and goals are adjusted. benemsr ‘Ind °““""° W5‘ °55°55'n°n'- Every action adds value to an organization's strategic vision. SCRUM SIX SIGMA Emphasizes productivity, focus and collaboration so Improves processes and product quality by reducing teams can build high-quality deliverables quickly defects or bugs. A rating of "six sigma" means that and adapt to change easily. Teams work in short 99.99966°/ o of what's produced is defect-free. By sprints for maximum efficiency, plus they can test examining the entire production process, you can find new iterations quickly and fix mistakes right away. possible improvements even before defects appear. WATERFALL E 08) Breaks projects down into a series of sequential tasks. With clearly defined goals and a set timeline, teams work through tasks in order, completing each one __ T before moving on to the next in line. And extensive I I planning means accurate timelines and budgets. Learn more at Brought to you by WR| KE. COM Curious about the pros and cons of each approach? Go to - A d- ' ' ' t t http: //hIt. |y/ PMmethods all? E.iiZ'iTo”l§t‘ioTZ’§r§w2“ri”ageme" SOURCES: about. com, brighthubpm. com, intaver. com, my-project-management-expert. com, pmkb. com, projectmanagementcom. projectsmart. co. uk, sixsigmaonlinecom, tutorialspointcom, wikipedia. org

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