What are the top 5 project management methodologies?

With all the project management methodologies out there, how do you pick the right one? As a project manager, you know that selecting the correct methodology is an essential part of getting the project done correctly and on time.

1. Agile

Agile project management values individual interactions over impersonal processes and tools, so one of its core strengths is its ability to adapt to changing situations and ongoing feedback results. It uses iterative and incremental work sequences that are referred to as "sprints". 

Best suited for: Projects that involve a certain amount of uncertainty and complexity, such as software development.

2. Kanban

Kanban is a visual process that paints a picture of the project workflow system so that bottlenecks and similar problems can be detected during the early stages of product development, comprises of Kanban Board, Kanban Card & Kanban Swimlanes.

Best suited for: Software development and any other project that emphasizes continuous improvements in the development process.

3. Lean

The lean methodology aims to maximize customer value by using fewer resources, which minimized waste. Like Agile, it is a concept that evolved from the Japanese manufacturing industry, which emphasizes the elimination of waste as a method of improving quality and reducing both costs and production time.

Best suited for: Companies that want to change the way that they do business. As a methodology, it addresses more operational than project processes.

4. Waterfall

One of the best-known and more traditional project management methodologies, Waterfall takes a sequential and linear design approach in which progress ‘flows’ downwards, in a single fluid direction, like a waterfall. The premise of the waterfall methodology is that the team can only move to the next stage in the project timeline after the present phase has been successfully completed. 

Best suited for: Bigger projects, such as public infrastructure, that require the team to maintain strict deadlines and move from one stage only after the previous one has been completed.

5. Six Sigma

Six Sigma strives to improve project quality and success by identifying what is not working and removing it from the process. Its main resources are quality management tools that rely on statistical and empirical data as well as expert input, to reduce the number of errors.

Best suited for: Bigger organizations and companies that want to use data to improve their operating efficiency and output quality.

Which methodology is best suited for your organisation?