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Project Management Methodologies

A project is a temporary value stream, aimed at creating or improving the value stream system of an organization or its customers, thus creating value for the organization’s stakeholders. Project management is the practice of managing project value streams to maximize their net benefit. - LeanPM

Agile Methodology

  • Agile methodology provides a flexible, iterative design and build process. 

  • It is about being responsive to the needs and demands of the market and be able to change course as the situation demands. 

  • Agile is more than just a methodology.  It covers a set of processes for extensive projects in dynamic environments.

  • As a result, it is well received and appreciated by the customers since it significantly reduces delivery times

Lean Methodology

  • Lean is a problem solving tool of eliminating wastes and removing wasteful activities that do not add value to the process.

  • It basically allows optimization of people, resources, effort and energy of the organization toward creating value for the customer.

  • Activities can therefore be categorized by their values in the process

Kanban Methodology

  • Kanban methodology essentially uses lean principles and aims to increase productivity by eliminating wasted time and resources. 

  • This approach aims to manage work by balancing demand with available capacity.

  • This methodology can be used in conjunction with Agile.

Waterfall Methodology

  • Waterfall is a simple method of planning projects that uses a sequential or linear approach to project management.

  • The team basically completes one task or step with an exit criteria and then performs the next step.

  • All the requirements and the activity sequences are generally defined at the beginning.

  • Then all the tasks are performed as a waterfall methodically, from the beginning upto the end of the project.

Six Sigma Methodology

  • Six sigma is a useful problem solving technique for process improvement which was introduced by engineer Bill Smith while working at Motorola in 1986, then went on to become a popular management approach at General Electric (GE) with adoption by Jack Welch.

  • The outcome of this method generally leads to increase in performance and decrease in process variation which lead to reduction in defects, improvement in bottom-lines, higher employee morale and better quality goods and services. 

  • The six sigma methodology relies on 5 process steps, called DMAIC. Define, Measure, Analyze, Improve, Control.

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