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Introduction
There are various methodologies and you can use to approach any given project as you wish. However, I have found that there are three approaches which have guided me in effectively managing projects: Traditional, Agile, and a Hybrid approach. Let’s take a look at them in detail below.
Traditional Project Management
This is an approach whereby your projects run in a sequential manner - in other words, it follows a fixed sequence and you cannot start the next task until the previous one has been completed fully. This is called the Waterfall method and has been around the 70s and companies are still adopting this approach today, so there’s no debate as to whether it works or not.
Advantages
- It’s easy to use: The step-by-step approach is easy to understand and implement no matter if you’re an expert or just starting out as a PM.
- It’s structured: There’s no turning back once you’ve set out on the path. So, you have to make sure that the stage you’ve just completed is perfect before you can proceed which ensures better results. However, this could also be seen as a disadvantage when it comes to being agile enough to meet change requests during the project life cycle.
- Documentation: There heavy emphasis placed on project documentation with this approach when it comes to gathering and understanding project requirements. Although this might sound like it could bog you down, it’s actually fantastic when you have new resources on the team and you need to handover.
Disadvantages
- Risky Business: Because of its rigid structure, it makes the project more risky. If you find an error in one of your previous stages, you have to go back and redo the work. Or, if the client changes their mind midway through the project, you run the risk of having to spend more hours implementing those - which will cost both you and the client time and money.
Best for:
The Waterfall methodology is most commonly used in software development, or even construction. It works best for the following project types:
- Short, simple projects
- Projects with clear and fixed requirements
- Projects with changing resources that depend on in-depth documentation
Agile Project Management
Agile project management is made up of a number of methodologies: scrum, Kanban, lean etc. and can be described as a framework or approach to project management. Agile is a common approach used in software development, and it relies heavily on teamwork, collaboration, time boxing tasks, and the flexibility to respond to change as quickly as possible - very different to the Waterfall approach above.
Advantages
- Flexibility and freedom: The key words here are experimentation and incremental changes - you would not be able to have this freedom if you followed the Waterfall approach as there are no fixed stages with Agile.
- Lower risk: You get regular feedback from stakeholders and clients and make changes accordingly. This constant feedback reduces the risk of project failure since the stakeholders are involved at every step.
Disadvantages
- Resource management and scheduling: OYu will constantly have to respond as changes occur, and this will make resource management and scheduling harder. You will constantly have to juggle resources, bringing them on/off on an ad-hoc basis.
- Collaboration-heavy: The feedback-focused approach of Agile means that project teams (including client) will have to be willing (and available) to work closely together and offer feedback quickly.
Best for:
The flexibility of the Agile approach means that you can adapt it to different types of projects. That said, this methodology works best for:
- When you don't have a fixed end in mind but have a general idea of a product.
- When the project needs to accommodate quick changes.
- If collaboration and communication are your key strengths (and planning isn't)
Hybrid Project Management
While Agile is great for flexibility, you still want the precision and reliability of Waterfall. So, why not blend the two and get the best of both worlds while ironing out the weaknesses of each approach? Well, that’s exactly what Hybrid Project Management is all about: it’s a custom approach. Last year, PMI conducted a study of companies that are highly competent in Agile project management and they found that 60% of these companies use hybrid project management all or most of the time. Remember that every project is different with its own needs and with this approach, you can change your project management approach.
Advantages
- More flexibility: Past the initial planning stage, this approach gives you more flexibility when compared to the Waterfall method. Granted the project requirements don’t change all that much, you can still make changes along the way.
- More structure: By using the initial planning phase from Waterfall, the Hybrid method still gives you the structure and planning which Agile doesn’t.
Disadvantages
- Compromise: Because you’re blending two very different approaches, you will need to compromise on requirements and flexibility. Any changes you make will have to comply with the budgeting and scheduling constraints set up front.
Best for
- Projects that have requirements for both flexibility as well as structure.
- Medium-sized projects that have some high complexity elements but also fixed budgets. You know what the final product should be, but you’re not entirely sure how to get there - so this involves experimentation, and close collaboration especially past the initial planning phase.
Conclusion
There are soo many project management methodologies out there, but what it essentially comes down to, is what your specific project needs are and how you plan on achieving them. Consider the following aspects when making your decision: project requirements and goals, team structure and experience, organization, stakeholders and tools. At the end of the day, it’s all about picking an approach which aligns to your strengths and weaknesses as a whole.
