Introduction
Any project has specific stages to be completed, which should bring excellent products or services. There are many project management methodologies used in the modern business world. However, they differ in their focuses, so it is more reasonable to analyze the needs and requirements of a project to find the most effective approach. Therefore, one must select an appropriate project management methodology that adequately reflects priorities and leads to success.
Waterfall Method
This methodology is considered traditional because it has clearly defined steps for project completion. One can also call the waterfall method predictive due to its sequential nature (Hamzane et al., 2020). It includes analysis of needs, planning, development, testing, and delivery (Hamzane et al., 2020). The key benefit is that the next project stage is possible when the previous one is validated. Thus, it is better to use the waterfall method when the needs and resources are clearly identified and will not change.
Six Sigma
The six sigma methodology has become especially popular in recent years. It aims at maximizing the success of a project or business due to acute attention to customer needs, using available data, and statistical analysis (Schwalbe, 2017). The key methodologies within six sigma are DMAIC (referring to ‘define, measure, analyze, improve, and control’) and DMADV (meaning ‘define, measure, analyze, design, and verify’) (Schwalbe, 2017). Utilizing statistics makes this method advantageous in reducing possible variations resulting in flawless products or services delivered (Ikumapayi et al., 2020). However, six sigma may not be suitable, depending on the project’s specifics.
Agile
Like six sigma, the agile methodology is also widely used today, especially in IT projects. Notably, this approach comprises extreme programming, lean software development, Scrum, and feature-driven development (Schwalbe, 2017). The crucial benefit of the agile method is its applicability to various industries and segments, such as manufacturing and education (Schwalbe, 2017). Despite the flexibility, one always needs to select a specific approach from the agile framework to achieve excellent results.
PRINCE2
This methodology is relatively young, as it appeared at the end of the twentieth century. The meaning of the abbreviation ‘PRINCE2’ refers to ‘PRojects IN Controlled Environments’ (Schwalbe, 2017). The approach has specific process groups related to actions with projects, namely starting, directing, initiating, controlling, and managing product delivery and a stage boundary, and closing (Islam & Evans, 2020). One can include the convenience and flexibility of this method as a considerable advantage because PRINCE2 is applicable to many fields and can be combined with the agile methodology.
Critical Chain Project Management
This project management methodology stems from the critical path method and broadens it. Critical chain project relies on multitasking, resource buffers, resource leveling, task dependency, and time tracking (Asana, 2022). Considering time requirements for a particular task represents a substantial benefit, especially in large multi-process projects with a set deadline (Asana, 2022). This feature significantly contributes to comprehensive planning and allows being one step further.
Using Project Management Standards and Technologies
The pet services project requires applying project management standards and methodologies. Although the waterfall method was previously identified as the most suitable, at the moment, I would opt for higher flexibility and choose PRINCE2 and agile. Despite the availability of determined requirements, none can warrant that something would not change. Given this, one needs to have ‘spare room’ for adjusting decisions. Thus, it is necessary to constantly review needs and resources and select the methodology that enables responding to unpredicted challenges at a specific time.
Conclusion
Finally, five project management methodologies have been discussed, including the waterfall method, six sigma, agile, PRINCE2, and critical chain project management. Although each of them is widely used in contemporary business operations, one should clearly identify the needs, resources, and purposes of a project before selecting a relevant methodology. Thus, the choice of flexible methodologies can allow for maneuverability in operational activities, though it is still needed to consider project requirements.
References
Asana. (2022). Project management methodologies: 12 popular frameworks. Web.
Hamzane, I., Belangour, A., Banane, M., & Erraissi, A. (2020). MDA Transformation Process from predictive project management methodologies to agile project management methodologies. International Journal of Emerging Trends in Engineering Research, 8(9), 5034-5042. Web.
Ikumapayi, O. M., Akinlabi, E. T., Mwema, F. M., & Ogbonna, O. S. (2020). Six sigma versus lean manufacturing — an overview. Materials Today: Proceedings, 26(2), 3275-3281. Web.
Islam, S., & Evans, N. (2020). Key success factors of PRINCE2 project management method in software development project. International Journal of Engineering Materials and Manufacture, 5(3), 76-84. Web.
Schwalbe, K. (2017). An introduction to project management, sixth edition. With a brief guide to Microsoft Project Professional 2016. Schwalbe Publishing.