Project Management Methodologies: Agile, Scrum, Kanban, Lean, Waterfall, Six Sigma, PMBOK

Project
Management
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Introduction
Project Management is a process or a group of
processes that is used to deliver a particular end
goal or objective for any organisation or entity.
Generally, a project brings about significant
amount of changes for the organisation or an
individual and if there is slight deviation from the
actual plan, it can have disastrous consequences
for the organisation or the individual.
As a result, proper and specific planning is
required before the project is executed to reach
the final end goal (Kerzner & Kerzner, 2017).

Overview
In this entire phase of planning for a change and
reaching the goal process, project management plays a
significant role to develop a plan, prepare resources and
execute the project to fulfill the requirements and
milestones.
While main objective of project management is to
execute and control the project as per the requirements,
there are different approaches and methodologies
towards managing the project that depend on the nature
and requirement of the project.
For instance, if the project is a construction project,
waterfall can be utilized whereas for a software project,
agile method can be used.

Methodologies of Project
Management
Project management is basically control and
management of a project through a specific
path that is determined during the planning
phase.
Now, different projects follow different
natures of paths and essentially, projects are
executed in different methods depending on
the nature, domain and requirement of the
project.
Some of the most common project
management methodologies that are used are
described in the following sections.

Agile
Agile methodology refers to an iterative
method in which the project has to be
conducted in a number of iterations before
delivering the final goal.
In this method, the project is broken down
into a number of different phases and the
project starts with the first phase.
In this phase, an iteration is performed and
the project progresses into the next phase
only if the iteration generations the right
outcome (Špundak, 2014).

Agile (Contd.)
If right outcome is not generated, another
iteration is performed on the phase.
In this way, iterations are continued on the
same phase until the right outcome is
generated and the project is ready to move to
the next phase.
Hence, it is known that agile is a time
consuming method but also focuses on the
accuracy of the project and thus the chances
of errors in the final outcome is very less.