Project management methodology is a strictly defined combination of logically related principles, procedures, and processes strategically used to manage and accomplish projects. Project management practices help project managers to lead team associates and manage work while facilitating team collaboration successfully and productively.
There are different project management methodologies, and they all have some merits and demerits. Some of them work better on specific businesses or projects, so you’ll have to dig a little deep to learn about project management methodologies to determine the best one for you.
Project Management Methodologies in Brief:
So let’s go through some of the most used project management methodologies, which are pragmatic in many segments such as software, hardware development, and research & development:
1. Agile Methodology: This is an adaptable method for product development. It is a reiteration model with several expansion cycles known as a sprint, which brings together the people’s mindset for product development.
2. Waterfall Methodology: This model is a chronological model that divides the software development process into several stages, in which each stage has a defined set of tasks and goals.
3. Lean Methodology: It originated from (TPS) Toyota Production System between 1948 and 1975, which focused on reducing waste, mending the process, and inspiring innovation. Its two main pillars are a) Continuous improvement. b) Respect for people.
4. Scrum Methodology: This is an outline for delivering, developing, and supporting products in a complex environment. It was initially used for software development, but due to its growing popularity in project management, it’s been used in sales, research, marketing, and new technologies.
Project Management Professional Certification (PMP Certification Training, PMP Exam) worth it?
A leading Economic Group published an article stating, “Approximately 1.2 million new project manager positions will need to be filled each year until 2021, but in most cases, companies won’t consider applicants without PMP credentials”.
Some of the benefits for PMP Certifications are as follows but not limited to:
- Improved career opportunities leading to a higher salary package.
- Global recognition as PMP is a globally recognized certification.
- A professional skill set.
- Motivation, leading to goal orientation.
According to the business scenarios and current trends, Project Management Professional Certification (PMP) is a must-do certification. Earning PMP certification has enormous importance for project managers and their respective companies. If you’re considering getting your academic degree in project management, you should also look for a program that prepares you to take the PMP Certification Training Exam.