In Part 1, we detailed the first part of project management methodologies for your consideration.
Here are the next five project management methodologies.
- Lean methodology
This methodology focuses on minimising waste. It aims to use fewer resources and increase the value for the customer by looking at all the processes thoroughly and finding opportunities to reduce waste.
The waste is grouped into three groups.
- Muda – refers to an activity or process that doesn’t add value. For instance, waiting for a machine to finish an action. We need to think about how to reduce this ‘time waste to increase the value.
- Mura – refers to nonexistent standards or waste creating by not following the standards or processes. For instance, ramping up the production even when there is a customer creates waste.
- The third category of waste results from tasks or processes that are overly difficult or ones that overburden workers. For the most part, this is caused when workers:
- Lack proper training
- Have no standards to follow
- Are given the wrong tools for the job
This methodology is suitable for manufacturing to keep the project within budget with little waste. However, it may mean re-working the processes.
Project Management Institute and Project Management Body of Knowledge provide a guide for project management. It is not quite a methodology, but we can consider it one for our list.
According to PMBOK, the five stages of project management are
- Project Close
- Critical Path
This methodology is about efficiency.
You can map out the tasks and find out which tasks need to be completed simultaneously. It will help you determine when to start each task.
This methodology is suitable for projects that have multiple parts. It helps to schedule and forecast better, and therefore you can complete the projects faster. However, this methodology doesn’t provide a lot of flexibility.
- Critical Chain
In this methodology, you work backwards from your end goal and map out the tasks and deliverables required to get there. While doing this, it is important to take into consideration the resource availability and dependency of each task.
This methodology is helpful for projects with limited resources. However, it requires a lot of planning.
- Six Sigma
This methodology focuses on defect reduction by identifying errors in a process by removing variations.
This methodology works very well in reducing waste and increasing the chances of success. However, it is not easy to implement.
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