In the latest of our series we introduce you to the various Project Management Methodologies and provide video explanations of each.
What is a project?
A project is a unique, temporary endeavour which includes a planned set of tasks that must be identified and completed over a specified time period. Projects are seen as temporary as they have defined start and end dates. In order for projects to succeed, they need to be managed properly.
What is project management?
Project Management focuses on applying processes, methods, knowledge, skills and experience to a project so that all the set objectives and tasks of a project can be completed on time and within budget. With that, the project management team will have a methodology that to go by for the duration of the project.
What are Project Management Methodologies?
Project management methodologies are models that project managers will choose for the creation, planning, implementation and achievements of overall tasks and objectives. There are many different types of methodologies that project managers across the globe implement in their organizations, and there are many discussions and arguments as to what methodology is the “best” one.
In this week’s Cora insight, we decided to give you a taste of some short video guides on four well-known project management methodologies. The four methodologies we picked out were:
- Lean Six Sigma
- PMBOK – Project Management Body of Knowledge
- PRINCE2 – Projects in Controlled Environments
“With agile, you can focus on what the business needs now”
In this tutorial from lynda.com, learn about the agile project management methodology and how if differs from the traditional waterfall methodology. The speaker also explains the characteristics of successful agile projects and the life cycle stages agile goes through.
2. Lean Six Sigma
The Lean Six Sigma Company visually outline the power of combining Lean and Six Sigma. The video explains both Lean and Six Sigma and then brings them together into a final graph to show how your project process is improved.
3. PMBOK – Project Management Body of Knowledge
“A project is unique, temporary and progressively elaborated”
In this video guide, Seed Workshops introduce the PMBOK Project Management Framework section, defining the terminology, organisational structure and an overview of project management knowledge areas.
4. PRINCE2 – Projects in Controlled Environments
“PRINCE2 guides you through the whole project life cycle”
In the first of a series of 4 episodes, Simon Buehring, PRINCE2 Lead Trainer at Knowledge Train, defines PRINCE2, the advantages of the methodology, and how it can be applied to projects within an organisation.
There are a wide range of methodologies that project managers can choose from. Often times, the main challenge many project managers will face, is analyzing all aspects of the project to determine which methodology is most suitable.
Many project management professionals will argue that there is no one “best” methodology and, in some cases, organisations may have multiple methodologies for different projects. When choosing the most appropriate methodology, there are a number of elements relating to the project, that must be considered, including existing organisational structure, stakeholders and the proposed team.