Project Management Methodologies: Types And Their Advantages

Definition

The methodology which is related to project management in the early 1960’s when most of the organisation began to take into consideration an effective manner that would be simplifying the realization of the benefit of the business and directly organize the task or the work in a unique and structured entity (Binder 2016). Collaboration and communication can be considered as a key criteria for the purpose of creating work relationship between departments and the teams within one and similar organisation.

In recent times the term has mostly changed and modified many times, in this sector new definition have been created and new functions and elements have been changed. The project management methodology can be considered as a broad principle and the rules which can deal with particular project which has a particular end and a beginning. There are different types and approach of project management methodology which has to be implemented according to the requirement of the organisation or the project they are dealing with and the complexity of the project (Bongiovanni et al. 2015).

The purpose of the report is to take into consideration project management methodologies in the sector of delivering benefit to the organisation from the projects process. The different project management methodology which can be implemented into the working of the project are mainly taken into consideration with stating the main advantage which are associated with the implementation. On the other hand the main competitive advantage which the organisation can obtain from the concept which discussed in the report.

Definition

 Project Management methodology can be considered strictly a combination of practices, logical method and processes which determine affectivity would be the plan, development of the project taking into consideration the implementation phase which is continuous (Heldman 2018). The process continuous until the complete completion and termination. It is very much proven scientifically as a means of disciplined and systematic approach to the design of the project, completion and execution.

The need of project management methodology

            The main need which are associated with the project management methodology are stated below:

• Establishment of common language which is understood by the team, so it gives a clear idea what the expectation is from the team.
• The need of the stakeholders are broadly explained.
• The estimation of the cost are credible, accurate and complete.
• Each of the task are executed using the public methodology method.
• Maximum of the struggles are identified and resolved in an early stage.
• The deliverables which are expected are produced and handed over properly.
• Instructions which are learned and the solutions are very much applied quickly (Hornstein 2015).

Methodology in project management Framework

            Project management which can be stated in the form of acronym “PM” can be stated as a framework of planning, executing and delivering the basics of the project of any size, kind, type and nature (Joslin and Müller 2015). The framework which is related to the PM focus on the aspect of realization of the changes which are desired in accordance to the approach of the methodology. The main important point which can be stated here is that it directly manages the change in the core aspect which should be managed. The framework of the project management identifies and directly defines how to manage the aspect in a proper manner.

The Need for Project Management Methodology

The concept of the practice helps as a best way to systematically realize the change which is implemented in term of time, quality and cost (Kerzner 2017). The concept of managing the project directly means to perform and describe the activity which is objective related to making of change. For example it can be stated that writing a book is kind of the project and the objective which is related to the aspect is scripting of a book. In order to proceed with the activity there can be a sequence of activity which can be implemented which may include selection of the topic, material collection regarding the topic, draft creation, typing the content and proofreading the content (Kerzner and Kerzner 2017).

So taking into consideration the prospective of project management the author’s main role is to access and publish all the necessary jobs and complete them which would directly result in the successful completion of the project.

            The framework of project management can be considered as a collection which is structured relating to relevant knowledge on how to implement different methodology. The main factor which is taken into consideration is overview of the different and various methods, processes, rules and standard (Kerzner 2018). On the other hand it does not take into consideration exact algorithm into how to manage a specific project. In this context it can be stated that the methodology of project management can be explained as a level of PM framework.

The steps which are stated would be directly playing a very vital role which would be altering the overall life phase of the project and different types of competitive advantage can be gained from the implementation.

Types of methodology

            In the approach of the project management it can be seen that most of the organisation tend to indulge into the aspect to gain competitive advantage. It should be implemented according to the need of the organisation and taking into consideration what type of advantage they want to obtain from the implementation. There are basically two types of project management methodology which are stated below:

Traditional approach

            It can be stated as the process has few steps which are involved into the aspect which are done step by step according to the requirement of the project which mainly include design, develop and deliver the service and the product. It directly entails achieving the succession in the implementation of the process and directly providing the benefit of the milestone which is based on the planning and the team building (Bongiovanni et al. 2015). The steps which are mainly included into the process are stated below:

• Initiation
• Planning and design
• Execution (This phase may include coding part)
• Integration and control
• Validation (Debugging and testing)
• Closure

Traditional Approach

Modern approach

            Modern approach does not focus on the aspect of the linear processes on the other hand they tend to provide an alternative look into the process of project management. Some of the methods which is related to the concept can be stated to be benefit for the software development and IT sector while other can be directly implemented within the production, improvement of process, production of engineering and many more. Modern approach may use different models of the process of management.

Methodologies 

PMBOK Guide

            A guide to the project management body of knowledge cannot be considered as a Project management methodology in its pure form. Most of the people considered it as a methodology approach which is related to planning, execution, control and termination of the various aspect of the project (Nicholas and Steyn 2017). Meanwhile the PMBOK guide is a broad inventory which is related to the best practice and the ideas with emphasis on the implementation and the planning of the project.

Advantage to organisation

• Easy breakdown of project management stages: The implementation of the PMBOK a project can be broken down into one or more phases. The main advantage which can be achieved from the aspect is that is makes the working of the project more simple. It can be stated here that some of the steps in the process can be difficult to understand but the process of PMBOK explains how to breakdown the overall process into simple steps.
• Professional development Unit: Development and reading the PMBOK directly counts as a professional development Unit (PDUs). This directly helps the organisation to stay in accordance with the standard of the industry.
• Tested methodologies: The PMBOK offers tested methodology which is related to the evidence based practices which directly ensures what are the operation standard of the organisation. On the other hand it also stated what should be the proper form of orientation of working in the organisation. It also stated why other methodology would not be working properly.
• Provide standardization of processes: It can be stated that the process of standardization remains one of the most important sector when relating to effective business plans and models. In the process of project the PMBOK model provides a way of transforming the isolated process into a complete, standard and collaborative effort of negotiation (Martinelli and Milosevic 2016).

Prince 2

            Project IN Controlled Environment 2 (Prince2) can be considered as a process which is method driven approach and the approach which is related to documentation which allows the access of driving different projects in the aspect of nature driven approach. The methodology was developed by the UK government and today it can be considered as a great example which is related to project management methodology which is implemented in the parts of UK as well as internationally.

Advantage to organisation

• Recognized Widely: Although the process of PRINCE2 can be considered as a management process of the IT projects, but the method was eventually developed to be accepted universally. It can be stated that due to the advantage of the implementation the process is widely adopted by more than 4 countries.
• Common vocabulary: It can be stated here that sector qualification that recognised across countries and industries is not only the main point of emphasis. About 120 public and private sector organisation make up a committee which is virtual that directly consults on PRINCE2. The practice which is stated as “best practice” is directly agreed upon. The most important aspect which can be stated here is that the PRINCE2 can be considered as a project management language.
• Build for uncertainty: The employee are very much familiar with the approach which is related to the PRINCE2 due to the fact that employee are well equipped to sustain in the tough time. The concept can be applied in the sector of recession as well as problem which is within the organisation. The organisation can take into consideration the aspect of the PRINCE2 as a troubleshooting approach. Within the internal working of the organisation if there are any sort of problem the
• Perfect starter: Taking into consideration the above criteria it can be stated that the PRINCE 2 can be one of most effective way in which project can be managed within the external as well as internal working of the organisation. It can directly help the employee to learn different methodology of project management. The implementation of the process can be done for any project and at any level of expertise (Mir and Pinnington 2014). The capacity of integration into other project management methodology can also be done quite easily which would be altering the role of scope.

CPM

            The critical path method (CPM) can be stated to be exploring the most important or critical area of the task relating to the project by means of defining the possible sequence of the activity and directly estimating the time duration of each of the sequence. The main concept which is related to the concept is that it gives a direct estimation of the time which can be taken to complete each of the task and which of the task would be within the scope of the project.

Advantage to organisation

• The implementation of the CPM would be directly beneficial for the organisation in a way which makes the control over the management easier.
• The concept directly helps in the aspect of ascertaining the schedule of time relating to the activity having a sequential information.
• CPM identifies the most important and critical element in the project. Thus the management of the organisation should be kept very much alert and prepared to pay attention to the critical activity of the project.
• The planning in the approach can be stated to be more detailed and easier in the point of view of implementation (Martinelli and Milosevic 2016).

Lean

The lean project methodology directly intend to increase the customer resource waste and customer value. Lean project management allows the organisation to create higher value relating to the customers with very few resources (Mir and Pinnington 2014). These type of approach help in the aspect of the creation of customer satisfaction and generation of value through implementation of an optimized process of flow which removes waste in services, products, inventory and transport.

Modern Approach

Advantage to organisation

• The lean process can directly reduce the risk management and even eradicate the waste completely. In most of the cases it is seen that less the waste more would be the profit which would be seen.
• The lean process uses lesser material which increases the profit sector. However the main goal in each of the sector should be to provide customer satisfaction as end result will reduce cost.
• Lean promotes employee safety and access to lesser accident for maximum productivity.
• Lean directly ensures a smooth flow relating to the productivity of critical activity.
• The implementation of the lean would increase the all-round high rates of planning.
• The process directly reduces the communication gap which is between the employers and the workers. The main aspect which is seen was result are improved.
• The process can be considered as a technique of implementation of the process in a smart manner. This would be directly reducing the overall cost (Misopoulos et al. 2018).

The concept of lean project delivery method aspect would be the satisfaction of the customer rather than procedure while eliminating the risk which is associated with the waste reduction (Martens and Carvalho 2016). The concept of the elimination of waste can be considered to be very much important due to the factor that everyone would be concentrating on the actual cost when there are several types of hidden cost which may be considered as very much high. The project management can be stated as a solution to several information flow problem and by completely eradicating the information flow problem will directly improve the physical health and mental health as well of the manager as well as the employees which in turn will improve the productivity overall (Nicholas, J.M and Steyn 2017).

CCPM

            Critical chain project management (CCPM) in a way describes a way of planning, review and implementation of various kind of work in s single-and-multiple project environment. This management methodology directly uses the aspect of theory of constraints (TOC) and the concept of the buffer which establishes the sector of task duration and the management of the resource dependent activity and tasks.

Advantage to organisation

• The CCPM would be directly seen in the uncertainty or the sector of unforeseen.
• The critical chain project management (CCPM) can be considered an outgrowth of the theory of the Constraints (TOC) developed by the Eliyahu Goldratt to the managing and scheduling of manufacturing.
• The implementation of the critical chain project management can be beneficial in a way by which projects can be completed in a time friendly manner with the introduction of greater scheduling of reliability.
• The main aspect which is taken into consideration is how the management of the risk is initiated. This majorly means that in the process there should not be any type of risk which is associated into the aspect. If there are any type of risk associated it would be directly impacting the overall working of the project. The main implementation which is done to avoid the risk factor is the implementation of padding in the task duration, starting of the work as soon as possible, multitasking approach to work and focusing on the aspect of the meeting of the commitment dates (Pajares et al. 2017).

It can be stated here that the critical chain project management (CCPM) directly delivers all the above benefit but is not considered as a standard in the industry. In some of the aspect it can be stated to qualify as a new technology introduction. To state in a concise manner the main advantage which can be seen in the concept are stated below:

• Shorten overall project duration
• Significantly improve the project delivery
• Provides early warning relating to the approach of the threat
• Enables less drastic, earlier and more focused response to the potential problem (Špundak 2014).

            The implementation of the CCPM method it can be improve the working of the organisation from sector A to sector B as seen in the above graph.

Conclusion

            The report can be concluded on a note that there are various project management aspect and methodology which are available for implementation. The implementation is directly dependent on the aspect of delivering of standard of the organisation. There are different types of advantage which are seen in the sector of the implementation and it majorly help the organisation to alter the internal as well as external working of the organisation. Taking a common phase into consideration it can be stated that planning is one of the most important aspect which play a very vital role in the sector of working of the organisation.

Project management can be one of the most vital sector which involve the working of the organisation and helps in building of a proper framework of working. Team work can be considered one more sector which play a very vital role in the implementation and a mean of gaining added advantage to the working of the organisation. Organisation are more concerned about their internal working so the selection of the best methodology which would be suiting their need would be very much beneficial for their working. The project manager has a very vital role to play in this sector as it involves the overall working of the organisation as well as working of the project.

Methodologies

References

Binder, J., 2016. Global project management: communication, collaboration and management across borders. Routledge.

Bongiovanni, A., Colotti, G., Liguori, G.L., Di Carlo, M., Digilio, F.A., Lacerra, G., Mascia, A., Cirafici, A.M., Barra, A., Lanati, A. and Kisslinger, A., 2015. Applying Quality and Project Management methodologies in biomedical research laboratories: a public research network’s case study. Accreditation and Quality Assurance, 20(3), pp.203-213.

Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley & Sons.

Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.

Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), pp.1377-1392.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.

Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley & Sons.

Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International journal of project management, 32(2), pp.327-340.

Marchewka, J.T., 2014. Information technology project management. John Wiley & Sons.

Martens, M.L. and Carvalho, M.M., 2016. The challenge of introducing sustainability into project management function: multiple-case studies. Journal of Cleaner Production, 117, pp.29-40.

Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.

Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), pp.202-217.

Misopoulos, F., Michaelides, R., Salehuddin, M.A., Manthou, V. and Michaelides, Z., 2018. Addressing Organisational Pressures as Drivers towards Sustainability in Manufacturing Projects and Project Management Methodologies. Sustainability, 10(6), pp.1-28.

Muller, R., 2017. Project governance. Routledge.

Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Routledge.

Pajares, J., Poza, D., Villafañez, F. and López-Paredes, A., 2017. Project Management Methodologies in the Fourth Technological Revolution. In Advances in Management Engineering (pp. 121-144). Springer, Cham.

Špundak, M., 2014. Mixed agile/traditional project management methodology–reality or illusion?. Procedia-Social and Behavioral Sciences, 119, pp.939-948.

Turner, R., 2016. Gower handbook of project management. Routledge.

Vijayasarathy, L.R. and Butler, C.W., 2016. Choice of software development methodologies: Do organizational, project, and team characteristics matter?. IEEE software, 33(5), pp.86-94.