Project management methodologies on the other hand are set up in a way that provides a clear process to follow, so that new service or product deliveries are adhered to, and completed. This makes sure no task or process falls through the cracks, as it were. As a business owner or a manager, knowing how to implement a project management strategy benefits your team by increasing productivity. Two of the most popular project management methodologies are Agile and Prince2. Have you heard of Kan-ban or Six-sigma? Lean, Six-Sigma and Kan-ban are examples of workflow management methodologies that have since been ‘adopted’ into Agile project management.
What is Agile?
Originally developed in the software development industry, the Agile methodology is now used by millions of businesses throughout a variety of sectors. When applied to project management, the Agile methodology focuses on consistent improvement, on-going collaboration, and short iterations or “sprints”. As short work cycles are prioritised, a small business using Agile principles can deliver projects rapidly and achieve optimal results via frequent revisions.
Since it was first introduced, various approaches to the Agile methodology have developed and existing approaches incorporated, such as Kanban, Scrum, extreme programming (XP), Lean and test-driven development (TDD). Finding the right approach for your business will enable you to implement the Agile methodology in a way that’s best suited to your working style and business goals.
What is Prince2?
Short for ‘Projects IN Controlled Environments’, Prince2 is a process-based project management methodology. When using Prince2, you’ll divide projects into small stages and rely on seven distinct principles throughout the project lifecycle. These are:
- Continued Business Justification
- Learn from Experience
- Roles and Responsibilities are Defined
- Manage by Stages
- Manage by Exception
- Focus on Products
- Tailor to Suit Project Environment
Agile vs Prince2
Although Agile and Prince2 are both project management methodologies, they are applied in different ways. Prince2 is a plan-based methodology, for example, whereas Agile allows for more flexibility as it eschews a master plan in favour of short-term objectives.
Choosing which project management methodology to use for your small business is an important decision and it’s vital to consider your overriding objectives and the nature of the projects you’ll be working on. Agile can be best suited to projects that are likely to be subject to unexpected changes or to provide flexibility for adaptation for example, whereas Prince2 can work well when companies want to achieve long-term commercial goals.