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Project management - methods, trends, and advantages
Project management is an important factor in the success of companies and organizations. But which project management method is best for a particular project? The answer is not so simple because different approaches have advantages and disadvantages depending on the situation. In this blog post, we give an overview of some of the most popular project management methods and highlight current trends.
What are the different types of project management?
Traditional project management
This method follows a linear approach to planning and implementing projects. It usually consists of the phases of planning, development, testing, implementation, and maintenance. Each phase requires its actions and decisions. Examples of traditional methods include the Waterfall Method, PRINCE2 or the Critical Path Method (CPM). They all have in common that projects are divided into sequential phases, each of which must be completed before the next one begins. Traditional methods are easy to implement, but require a high degree of planning certainty and flexibility.
Agile project management
This type of project management, on the other hand, uses continuous iterations to develop a product step by step, which allows for faster adaptation. Agile project management is suitable for teams that move in dynamic environments or need to make quick adjustments. Basically, agile methods are enormously flexible and customer-oriented, but require a lot of communication and discipline.
Examples of agile methods are Scrum or Kanban. So-called sprints are often used, which lead to functional products in two to four weeks. Or the team works according to the pull principle, which means that it only works on as many tasks as it can handle (work in progress limit). This method helps to identify and eliminate bottlenecks, but also requires a high degree of transparency and self-control.
Hybrid project management
This hybrid form combines elements from the classical and agile approaches to use the advantages of both worlds. There is no fixed scheme, but different possibilities of integration. This can mean, for example, that projects run sequentially, but teams coordinate at regular meetings during the project and adapt the processes based on the results.
What trends are emerging in project management?
An important trend in modern project management is digitalization which also includes the use of AI. More and more companies are using digital project management tools to optimize and automate processes. The collaboration of virtual teams is also a trend that has had an increased impact on project management, especially since the Corona pandemic. This is because companies also benefit from being able to use remote work effectively and promote communication and collaboration in virtual teams due to the lack of personnel.
What type of project management is currently gaining acceptance?
Recently, there has been a clear trend towards agile methods. Agile project management offers teams more flexibility and control over the process than traditional approaches. For example, it enables teams to develop products more efficiently and adapt more flexibly to market requirements. In addition, agile methods simplify communication within the team, as all members are involved in every single intermediate step.
What are the advantages of modern project management?
- Increased efficiency
By using modern project management methods, projects can be carried out faster and more efficiently. - Better collaboration
Modern project management tools facilitate cooperation between team members and promote the exchange of information. - Flexibility
Agile methods enable teams to react quickly to changes and adapt their work accordingly.
What should companies consider when using modern project management methods?
Modern project management methods can be very complex and often require extensive training for team members. This can sometimes require more planning upfront. The use of modern technologies and tools can also involve additional costs, which should be included in the calculation.
Basically, companies should make sure to choose the right method for their specific project. Not every method is suitable for every application. If you would like to know which approach is the right one for you, please contact us.