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How to make the right choice of project management methodology

How to choose the right Project Management Methodology:

Businesses undertake many projects in a year. Some of these projects become a success while some are a failure. The reasons for success or failure may be any – no clear definition of goals and objectives, change in the organization’s priorities, lesser budget, inaccurate communication, wrong selection of the project manager, inadequate resources, no clarity on risks and opportunities, and many more. Besides, a key reason that makes or breaks the project can be the selection of the project management methodology.

Project management methodology is defined as a set of guiding rules, principles, processes, practices, and techniques for managing a project. It is an approach, whereby you define the steps, outline the governance structure, create a set of checklists, and clarify the deliverables to ensure successful project management.

Before you begin the project, it is essential to choose the right methodology that can make your project a success. There are several project management methodologies available in the business world. Some of the famous and most preferred project management methodologies include PMBOK, Waterfall, Agile, Scrum, Kanban, Lean, Six Sigma, and many more. Not all project management methodologies work for your project. It depends on your project goals, type of business, industry of operations, business size, and many other factors.

If you enforce a methodology on a project, it may end in a disaster. If you understand the features of a methodology and customize them for your project requirements, it may succeed. Therefore, make a wise decision in choosing the right methodology of project management so that you achieve your goals within the budget and the set timelines. The key factors for choosing the right project management methodology for making your project success are:

Identify the key factors of your project

In the first step, you must try to understand the nuances of your project. The key nuances are the answers to the following questions:

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What is the project about?

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Who is the client?

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What are the available resources?

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What is the timeline for project completion?

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Who all will be involved?

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What are the tools available?

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What are the potential risks and threats?

The answers to these answers are the key factors of your project. Check each of these factors to know the riskiness, size, and complexity of the project. The project management methodology for small, simple, and low-risk projects is different from complex, large, and high-risk projects.

Recognize the business environment of the project

A project’s environment may affect the activities required to complete the project. A project can be plan-driven or change-driven and based on this, the logical sequence of tasks changes for the project. A project may be static with fixed requirements, strict regulations, and certainty in resources, costs, and deadlines. In such cases, the project is plan-driven, meaning a fixed plan is required at the starting, and the team must follow the plan thoroughly. On the contrary, a project can be evolutionary, flexible, and requiring changes based on some external factors. In such cases, the project is change-driven, thereby requiring more decision making. Based on the project’s business landscape, you can select a project management methodology that works best for that type.

Define the value generators for the project

Understand the project deliverables that your project head expects from you. What are the outcomes that generate value for them in terms of more customers, more profits, more output, or others. For example, if product development is the end deliverable, the project life cycle becomes iterative or incremental since a series of repeated cycles are required to add and test the functionalities of the product.  The key is to understand these value generators and use a proper project management methodology that will be able to deliver value.

Understand the importance of the project to the achievement of organizational goals

The goals and objectives of the project must align with the organizational goals. You must understand how to make that possible and that will drive you to the selection of an appropriate project management methodology. The project goals may be specific to leveraging strategic opportunities, addressing social needs, responding to customer requests, adhering to increased legal requirements, reacting to customer demands, improving organizational quality, considering environmental projects, adapting to technological advancements, or complying with new regulations. The project goals may be anything, but they must walk hand-in-hand with the organizational strategy, and an appropriate project management methodology will ensure that.

List your project team’s skills, values, and abilities

The last step is to consider the skills and talents of each of your team members and the team as a whole. Your team members will carry out the selected project management methodology to achieve the desired goals. Therefore, it is crucial to understand what are your team members skills, what are they good at, what are their thoughts about the project, how they relate to the project goals, and what is their working style. Based on this analysis, you will be able to select a project management methodology that is the best fit.

We have completed the first step for you by guiding you on how to select the right methodology. The next step is to research the various project management methodologies, match them with your project requirements, and you are all set.  There is nothing like choosing the best one; it’s all about choosing the right one. Once you select the right methodology, commit to doing quality work to meet the needs of the project, and generate value for the organization.

Technovisors

We, at Technovisors can help you with this process of selecting the right project management methodology for you. We have experts with the knowledge of various project management methodologies, their pros and cons, and the industries for which they are most suitable. With this knowledge, an understanding of your project requirements, and experience in the project management process in multiple industries, we deliver value to you.
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