SECTOR Z VENTURS

Types of Project Management

Many types of project management have been developed to meet the specific needs of certain industries or types of projects. They include the following: 

Waterfall Project Management 

This is similar to traditional project management but includes the caveat that each task needs to be completed before the next one starts. Steps are linear and progress flows in one direction—like a waterfall. Because of this, attention to task sequences and timelines are very important in this type of project management. Often, the size of the team working on the project will grow as smaller tasks are completed and larger tasks begin. 

Agile Project Management 

The computer software industry was one of the first to use this methodology. With the basis originating in the 12 core principles of the Agile Manifesto, agile project management is an iterative process focused on the continuous monitoring and improvement of deliverables. At its core, high-quality deliverables are a result of providing customer value, team interactions, and adapting to current business circumstances. 

Agile project management does not follow a sequential stage-by-stage approach. Instead, phases of the project are completed in parallel to each other by various team members in an organization. This approach can find and rectify errors without having to restart the entire procedure. 

Lean Project Management 

This methodology is all about avoiding waste, both of time and of resources. The principles of this methodology were gleaned from Japanese manufacturing practices. The main idea behind them is to create more value for customers with fewer resources. 

There are many more methodologies and types of project management than listed here, but these are some of the most common. The type used depends on the preference of the project manager or the company whose project is being managed. 

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