Small businesses face many unique challenges, one of which is keeping track of all the moving parts involved in managing projects. Companies constantly have to deal with high expectations and short timelines, so project management is becoming even more essential.
Many project management methodologies can help businesses achieve their objectives efficiently and effectively. Choosing the right one depends on the nature of your business and its needs, budget, team size and style, and timelines. Here are some standard and practical methodologies for small businesses and the type they may fit well.
- Waterfall
A waterfall methodology is a traditional style that consists of breaking projects down into phases to be completed in a linear, sequential manner. Typically, phases are linear, meaning that progress flows in one direction. The phases are independent, and each phase relies on completing a previous phase. The phases are requirements, analysis, design, construction, testing, deployment, and maintenance.
This is a suitable method for small businesses that can clearly define these phases with clear lines of distinction and that don’t experience too many changes throughout the project development process. If the project is unlikely to change, is under strict regulations that require extensive tracking, and may have new people joining in at a later stage, then it is better suited for waterfall methodology.
Due to its linearity and reliance on documentation, the waterfall method ensures continuity no matter who picks it up at whatever stage. It is ideal for projects that can clearly define restrictions, timelines, team roles, and resources from start to finish. The relationship with the customer will only be at the beginning to start the project and at the delivery of the project. The waterfall methodology is suited for projects like construction.
- Agile
The agile methodology breaks projects down into short phases. A team works through one aspect of the project, typically within two weeks, then meets to adapt their process before moving onto future phases.
This collaborative and flexible method works well for projects that need constant feedback from customers or users to reach a final solution. It enables the team to work in frequent testing, reassessment, and adaptation phases throughout the project. It is an iterative process that is great for teams looking to work closely together and boost communication.
It works for projects that don’t have a clear outcome and require speedy progress rather than perfect results, such as app development. It is also suitable for small businesses with nimble teams that experience many changes throughout the project process and need to maintain agility. Many sub-categories of the agile methodology have been created, such as scrum, kanban, and lean.
- Critical Path
The critical path methodology, also known as critical path analysis, identifies and schedules all the critical elements (and dependencies) of a project and maps them out. The methodology requires you to list all the essential tasks necessary for project completion, an estimation of the timelines for the crucial tasks, and collate all the information to create the quickest critical path towards your goal. There are many ways to map out scheduling, such as Gantt charts and flow graphs.
Critical path methodology is excellent for projects with many moving parts and delicately interconnected scheduling. It helps you manage your timelines, improves resource allocation to essential tasks, and manages large-scale projects. It is helpful for small businesses that need to adjust to their process as delays happen or if certain elements have drastic changes.
- Extreme Programming (XP)
Extreme Programming is a methodology created for software developers that build collaboration and agility around five rules: simplicity, communication (face to face is preferred), feedback, respect, and courage. It uses the principles of agile project management. Additionally, it emphasizes teamwork and collaboration across managers, customers, and developers, using self-organizing teams.
This is good for small businesses with teams in multiple locations that must stay on the same page. It also works for teams that need to keep all parties on the same page with the same focus areas in mind.
- PRINCE2
PRINCE2 (PRojects IN Controlled Environments) methodology is also a certification that addresses eight critical areas of a business: business case, organization, plans, controls, risk management, quality in a project environment, configuration management, and change control.
If these eight components are adequately addressed, project processes should run smoothly. These are great for complex projects and small businesses looking to set up processes they can grow and expand with over time.
- Six Sigma
This method focuses on understanding customers and eliminating waste so that the business can reduce costs and lead time while increasing quality. It requires the business to focus on the customer’s expectations to minimize defects and ultimately waste.
This is a suitable method for manufacturing or product development environments looking to follow fluctuations in their customer base and put them in a competitive position in their market. It works for small businesses looking to improve their process and delivery.
Choose What Works
A project methodology is a framework that helps you manage a project in the best way possible. You don’t have to stick to one methodology since no two projects are the same. Choose one according to your team size, budget, timeline, customer input, or flexibility.
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