Most people are aware that project management has become necessary in order to run a project smoothly, but it is also important to choose the right style of project management for your business and for your specific project. Here is a breakdown of the main types of project management:
Traditional
A phased approach is the biggest feature of Traditional Project Management, and in this methodology certain steps are carried out in sequence, with there usually being five steps. These steps are initiation, design, manufacture, monitoring and closing, but this is not a fixed pattern. In some projects not all the phases are required, whilst in others more need to be added or the order in which they happen needs to be rearranged slightly. This style is often referred to as the waterfall mode, especially when applied to software projects.
Critical Chain Project Management
In Critical Chain Project Management the main focus is on the resources required to complete the tasks within a project and the project in its entirety, and takes its foundations from the theory of constraints. When managing a project using Critical Chain methodologies, the way in which uncertainty is managed and controlled is different from the way it is managed in Traditional Project Management. Uncertainty is managed by multi tasking, starting tasks in a timely fashion , and using other time saving methods when adopting Traditional PM, whereas Critical Chain looks to manage uncertainty by scheduling backwards from the desired completion date, using buffers and estimating timescales by looking at averages.
Extreme Project Management
Extreme project management is usually used in projects which have a large number of complexities or have many uncertainties. This method of managing a project differs from the traditional methodology as it is much more humanistic and elastic in its thinking. This approach is more focused on managing the human interactions related to the project, rather than the schedules and formality.
Whether you choose one of these styles or another, your projects efficiency can be improved by using project management software, which has an issue tracker as issues are flagged automatically, meaning you can take action more quickly.
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