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Did you notice that the way we work is changing? As companies strive to deliver complex projects in a competitive environment, the demand for project managers and employees with project management skills has grown more rapidly than the demand for skilled workers. According to the consultancy firm Bain & Company, most work will be project-based by 2027.
Career opportunities for project management practitioners who possess key skills in project management methods are some of the most sought-after in 2023. The Project Management Institute estimates that the number of project management roles will increase by 33%, creating nearly 22 million new jobs for qualified project managers by 2027.
Organisations making project management a core facet create happier employees and stronger results. The innate ability to organise things and tasks orderly creates a well-defined project plan and radiates a healthier team environment.
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Table of Content
- The Roles of Project Managers
- Top 5 Project Management Methodologies
- Waterfall Methodology
- Agile Methodology
- Scrum Methodology
- Critical Path Methodology (CPM)
- Kanban Methodology
- Key Takeaways
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The Roles of Project Managers
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Project managers are unsung heroes. As more and more of our everyday tasks become project-based, the project manager skill sets get more desirable than ever. Their diverse skill sets allow them to leverage their project management skills to foster an organisation’s ability to learn, succeed, and evolve with a project.
Imagine this—you are a project manager for the Southeast Asia region with subordinates across multiple countries. It may seem impossible for you to set up a meeting daily to get updates from your subordinates due to different work shifts. Now, here comes the part where you create timelines, delegate tasks, and monitor the progress and completion of each task by your subordinates using the right methods. It saves time, and everyone can work efficiently!
Now, you must be wondering about the methodologies that project managers use. If you are about to or have taken baby steps into this project management world, you may have heard of Agile and Scrum methodologies. Still, there are various project management methods than these two methods. However, you’ll need to decide which works best for you, as different industries may require different methods. The right person takes project management strategies from good to great. So, if you plan to level up in this area, keep reading to discover some of the most popular project management methods and how you can benefit from them.
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Top 5 Project Management Methods
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Undoubtedly, effective project management profoundly impacts organisations and employees in the workplace. Cultivating expertise in these areas will result in transformational data-driven business decisions that facilitate better risk management, foster greater team alignment, and optimise your workflows for smoother processes and happier employees.
1. Waterfall Methodology
With the Waterfall methodology, the project managers usually gather the requirements from customers and stakeholders at the start of the project, after which a sequential project plan is made to consider those requirements. Each project phase flows into the next, following steadily downward like a waterfall—thus, it is named as such. This concept was initially used in the manufacturing and construction sectors, where each goal must be reached before moving on to the next flow.
This method is often visualised in a Gantt chart. A Gantt chart will show the tasks sequentially and display task dependencies. It provides a clear visual representation of the plan, and you can show progress and plan resources. It is highly recommended to be applied in manufacturing and construction projects as they are highly structured and cost-effective.
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2. Agile Methodology
Agile project management methodology is an evolving, flexible, and cooperative method for self-organising teams. It is one of the renowned project management methods for managing projects that divides work into several flexible phases, known as sprints.
It is commonly found in application development or other types to encourage teams to tear down organisational barriers and develop a formula for effective teamwork. The Agile framework is based on the principles of collaboration, customer feedback, and the “three Cs” — Card, Conversation, and Confirmation.
Agile methodology has been implemented for non-software products that require a more flexible and rapid production schedule, like marketing, as well as for non-software items that strive to advance with innovation and have a degree of unpredictability, such as computers, cars, medical equipment, food, clothing, music, and more.
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3. Scrum Methodology
Scrum methodology reduces job complexity by making it transparent and easier to grasp, enabling teams to analyse and change based on actual circumstances rather than anticipated situations. The Agile Scrum technique supports this idea by giving the development team a project management system that relies on gradual improvement for better job production, productive team members, and eventual success. It is ideal for a team of no more than 10 people and frequently adheres to two-week cycles with quick daily meetings, or “scrum meetings”.
The scrum framework provides key guidelines for the project managers in developing a product highlighting the value and workflows. Scrum teams work in sprints led by a scrum master — set time frame, the sprint activities, and inspect daily progress. The scrum master helps the team as a whole to progress by making them concentrate on the sprint goal.
Scrum masters may sound like having the same roles as project managers, but they are two different individuals. While a project manager leads a team and creates strategies for a project, a scrum master ensures the scrum team fulfils its objectives by facilitating and guiding the development team as they use Agile principles to complete the tasks. A competent scrum master thoroughly understands the team’s work and may assist them in optimising their transparency and delivery flow.
The scrum methodology is applicable across any industry or business, including retail logistics, event planning, or any project that requires some flexibility.
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4. Critical Path Methodology (CPM)
In project management, a critical path in project management is the sequence of activities with the longest duration. The critical path tasks are referred to as critical activities because if they are delayed, the project as a whole will be delayed. Project managers utilise this method to determine the shortest time required to accomplish each task with the least amount of slack to identify the critical route.
Before you embark on a project, you’ll need to build a strong project management roadmap to determine the requirement to achieve your project goal. While handling this project, the method employed entails presenting a comprehensive list of all tasks required to carry out a project, the relationships between the jobs, and the projected time required to accomplish each work.
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5. Kanban Methodology
Kanban, a billboard in Japanese, is a visual project management method used to manage workflow by arranging tasks on a board that makes workflow and progress visible to the entire team. It was developed by a Japanese engineer named Taiichii Ohno in the late 1940s.
It is known as one of the simplest frameworks in project management, which aims at continuous improvement and seeks to improve workflow and be more dynamic in task management. Just-in-time (JIT) manufacturing was utilised in manufacturing environments to employ Kanban to manage inventory across the supply chain. By guaranteeing that the amount of work required matches the team’s capacity for work, the Kanban methodology for project management adopts the same idea.
The Kanban board comprises the current tasks being performed, the tasks to do in the future, and the completed tasks. Using the Work in Progress (WIP) notion, the Kanban system tracks the progress of each work cycle. WIP has predefined specified limits and a status. One of the guiding concepts for the Agile Kanban technique is limiting WIP to uphold uniform standards. Completing the present duties in the designated order is crucial for the team.
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Key Takeaways
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Project management techniques are virtually as numerous as projects themselves, but they all have one thing in common — they all complete their deliverables on schedule and budget. Regardless of your chosen project management methods, managing all your processes and projects effectively requires a solution.
This means that you need a platform to help you grow and expand your skills in project management to find the right methods. By enrolling on classes in project management on Skillsture, you’ll be able to discover more in this field and leverage the implementations better in the organisation.
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