Top Project Management Methods for Businesses

Companies and businesses need a variety of things to go right in order to achieve success. With millions and millions of small businesses in the USA alone, there is a lot of competition, no matter what industry you’re in. So how do you get the upper hand on your competition?

Well, of course, you want to offer a superior product or service, have better marketing, and offer better customer service than anyone else. However, one important thing not to forget about when it comes to achieving success is project management. How your company executes their projects can have a huge impact on when new features release, new updates go out, and new products get developed.

If your project management is lacking, it can cost you a lot of time and money. Thankfully, there are a variety of project management methods that companies use to stay on task and ensure their projects get planned and completed in an appropriate amount of time.

With that in mind, this blog post is going to look at three of the best and most popular project management methods.

Kanban

The first project management method we’re going to look at is one that is skyrocketing in popularity recently – kanban. Kanban (which translates to billboard) is a much more visual approach to managing projects. This method was first introduced back in Japan at Toyota over half a century ago and was used in manufacturing. Since then, it has found its way across the world.

In kanban, a board is used to visualize what needs to get done, what is currently being done, and what is already done. It is a great way to manage projects and ensure you not only stay on time but also keep the budget in mind. They can help you continuously improve and review projects and processes very quickly and effectively.

The Waterfall Method

If simplicity is something you are fond of, the waterfall method might be for you. It is one of the most common and traditional project management methods out there. It is commonly used in fields like construction and manufacturing but has benefits in other arenas as well. Like a waterfall, tasks flow down in a list, and one must be done before you can move on to another.

It is incredibly simple, which makes it easy for anyone to follow and implement. All you need to do is write down all the tasks that are required to complete the project in order and then do them. Simple as that! While this might not be the most robust method, not every team or project requires and in-depth or detailed project management method. Also, because these are simple to follow and utilize, they can often save a lot of time and money.

Prince2

Prince2 (which stands for Projects in Controlled Environments) has been around since the 1990s but has gone through several updates over time. While it originated in the U.K. and is used by the government and many companies over there, it also has a lot of value for businesses all over the world. It is an incredibly flexible method and features a very clear allocation of responsibility.

Roles are predetermined and everyone knows exactly what they are responsible for doing. There will also be periodic reviews to justify every task being done throughout the project. Add that to benefits like better control of resources and better risk management, and you have a quality method worth considering.

In conclusion, we hope that this article has been helpful in teaching you about some of the best and most useful project management methods. The one you ultimately decide to implement will depend on your needs, your team, and a variety of other factors.