British management consultant George Rist is renowned for his expertise across a number of sectors, ranging from private equity to retail. Specifically, his area of interest lies within digital transformation and project management.
He is consistently ahead of the curve when it comes to project management with a deep understanding of evolving management methodologies.
Why are project methodologies so important?
The expert consultant says: “For obvious reasons, project management is the bedrock of every business and every team within that business. Only by selecting and properly utilising a judiciously chosen project methodology can business leaders achieve their goals.
“By ensuring the smoothest, most sustainable and technologically capable methodology, the team or business leader increases their changes of success. As a management consultant, I work closely with organisations across many different sectors. Each organisation and team needs a methodology that works for them – which is why thoroughly comparing those available is a useful exercise.”
An overview of traditional methodologies
The way in which team leaders choose to manage their project can mean the difference between success and failure in terms of their overall objectives.
There are lots of different project management methodologies to choose from, which means that it’s always possible to find the right fit. George Rist adds: “It’s a good idea to thoroughly research the different types of project management out there before launching your project. This will allow you to properly identify what will work for your specific project.”
A traditional project management methodology is the Waterfall method.
Waterfall methodology
This methodology allows business and project leaders to complete phases of the project in a linear, sequential way. In other words, each section is finished before the next is begun. This means that progress flows in a single direction, hence the ‘waterfall’.
The project manager maps out all the requirements and ultimate outcomes before the project is launched. When this planning stage is complete, the team members then go through each sequential task until every task is completed.
This means that the planning phase takes a long time and has to be completed before any work actually begins. The methodology also requires specific task delegation all the way through to completion but it also means that it’s possible to set up manageable tasks and plan them to a tight schedule.
The different types of project methodology
George Rist breaks down the most commonly used traditional methodologies:
Agile
Agile project management was developed for software development projects, as traditional project management methodologies were no longer working. Methodologies such as Waterfall, with its step by step approach, weren’t fast enough or flexible enough for the fast-changing business needs of IT and software companies.
In the mid 2000s, some software developers took matters into their own hands and devised the ‘Agile Manifesto’. The document contains the 12 principles of Agile project management along with its core values – this document is the basis of today’s Agile methodology.
Agile project management allows super fast responses to change requests while simultaneously continuing to push the workflow on. It allows teams to adapt to changes much more quickly than older methodologies and quickly pivot if necessary. Rather than waiting for long term milestones to be reached, the dynamic approach allows the teams to adapt as they go in order to deliver the final product to the client as quickly as possible.
While Agile did start its life specifically within software development, it is now used across many industry sectors including (but not limited to) consulting, healthcare and financial services.
How Agile works:
The project leader splits the overarching project into small segments with the aim of completing each one in turn. Time is set aside within each segment to properly assess quality and make any necessary changes before marking it complete. This is how flexibility and agility is built in.
Agile methodologies are flexible and adaptable, versatile and useful for all kinds of different types of project and simple to put together.
Kanban
Kanban uses visualisation methods to work out the optimal outlook for the project and therefore making it more efficient. The project manager uses a kanban board to visually represent the progression of the project measured against specific metrics.
Using various visual signs and symbols, each matched to a specific status, the project’s progression can be quickly understood and altered if necessary. For example, the symbols could represent the terms ‘to start’, ‘underway’ and ‘finished’.
Flexibility is the watchword for the kanban methodology as it allows team members to make adjustments and changes along the way depending on the progress. This method helps to boost productivity as team members are required to check in frequently to show their progress towards completion. This allows the project manager to quickly see where everything stands and identify any potential improvements.
This accurate project tracking methodology is ideal for involving every team member at every stage of the project. It is not a top down one way flow of information in the way that the Waterfall method is, for example.
Lean
This methodology focuses on efficiency and efficacy. It’s designed to deliver maximum value as quickly and as efficiently as possible. Think of it as ‘do more while using less’, which refers to how much energy, budget and resources used.
By ditching waste, the lean methodology saves costs and time while improving productivity. The methodology works via the ‘3Ms’. These are ‘Muda’ (the elimination of waste through getting rid of processes that add no value), ‘Mura’ (the elimination of any excess variables in order to ensure a balanced workload) and ‘Muri’ (the elimination of excess workloads to make sure that team members do not burn out).
Scrum
Scrum is a popular methodology for project managers who want a dynamic and fast moving workflow. The project is divided into chunks of tasks, with each one named a ‘sprint’. The sprints make the whole project far more manageable as it allows team members to focus on each sprint rather than trying to achieve the whole project in one go.
As the project moves on, managers and other stakeholders constantly analyse the work going on and utilise gathered data to improve the next sprint. The main principles of scrum is to break up the project into bite size chunks (called sprints) and properly managing and modifying each task before the next begins. This allows the project to be delivered as quickly and efficiently as possible.
Six Sigma
Six Sigma focuses on ensuring the project outcome is of the highest quality by getting rid of all errors and waste as and when it arises throughout the process. This means that it’s underpinned by data analysis resulting in properly verifiable evidence to help the project manager reach the right conclusion.
By utilising a specific framework, the project is kept consistent. The constant analysis and removal of resultant errors and waste ensures the project is always as efficient as possible and also mean that stakeholders are as confident as possible in the outcome of the project.
The two main frameworks used in Six Sigma are DMAIC (Define, Measure, Analyse, Improve, Control) and DMADV (Define, Measure, Analyse, Design, Verify).
PRINCE2
PRINCE2 (PRojects IN Controlled Environments) is another commonly used project management methodology. This one concentrates on the project’s process specifically. It’s all about structure and delegation. The project manager will design each section of the project and delegate it appropriately. This means the creation of clear guidelines with deadlines and explanations of the purpose of each section.
All of this is planned before the project starts to ensure cohesion and consistency. The main values within PRINCE2 are: processes, tailoring, principles and themes.
The future of project management – what about AI?
Artificial intelligence and automation are ubiquitous right now and, of course, can be incorporated into project management methodologies.
George Rist believes this kind of tech can be used to automate processes, set reminders, collect data and create reports, for example. And while using AI and automation could speed up tasks and increase efficiency, there are still challenges to consider.
For example, integrating AI and automation with current or legacy systems can be tricky and can also be expensive. It’s vital to understand how it will impact other tools in the current system before implementation.
Automation can also be inconsistent when it comes to data consistency and quality. It’s important to ensure also that automation will reliably transfer any data accurately. Team adoption can also be challenging – it can take people time to get to grips with automated workflows, so training and oversight is essential.
Most importantly, never underestimate the importance of human oversight of any project management methodology – leaving everything to AI is not a good idea right now, although who knows how it will develop in the future.