Project Management (PMP): Concept and Key Management Methodologies

When discussing Project Management, it can be viewed as a distinct professional discipline with its own principles, stages, working methods, and management approaches.

Project management also involves several important elements, including project resources, financial requirements, planning, execution, monitoring, and control.

All of these elements are closely connected to the project's final objectives, as those objectives help define project requirements and guide the work toward its intended outcomes. PMP® is a professional project management certification rather than a project management methodology.

What Is Project Management?

Project management involves applying knowledge, skills, tools, and techniques to organize and carry out project activities in line with project requirements and objectives.

It is closely related to planning and organizing project resources, including human and financial resources. The management role involves planning, communicating with team members, monitoring progress, and handling the project's key operational requirements.

Effective project management also focuses on clearly defined objectives and the methods used to achieve them, while ensuring that the project continues to move in the intended direction. It may also involve selecting team members, developing schedules, and using the team's skills effectively.

Types and Approaches to Project Management

There are several approaches and frameworks used in project management, and the most appropriate choice depends on the nature of the project, its requirements, and the amount of change expected during execution.

Waterfall Project Management

Waterfall is a traditional project management approach that follows a largely sequential process, with work moving from one project phase to the next according to a predefined plan.

It is generally more suitable when project requirements are clear and stable from the beginning, because making major changes during later phases can be more difficult and costly.

Agile Project Management

Agile uses an iterative and adaptive approach that allows teams to respond to changes during execution rather than relying entirely on a fixed plan throughout the project.

It focuses on delivering value in shorter cycles, collecting feedback regularly, and using that feedback to improve work and adjust priorities in subsequent stages.

Scrum

Scrum is a framework commonly used in agile environments. It organizes work into short, repeated periods and includes defined roles, responsibilities, and regular reviews of completed work.

It also emphasizes team collaboration and a degree of self-management in order to respond to requirements and develop results incrementally.

Kanban

Kanban focuses on visualizing and organizing workflow so that team members can clearly see what is being worked on, what has been completed, and what is waiting to be started.

It also emphasizes limiting work in progress and continuously improving workflow in order to manage work more efficiently.

Lean Project Management

Lean focuses on maximizing value for the customer while reducing waste in resources, time, and processes that do not add meaningful value to the project or final product.

It emphasizes continuous improvement, understanding customer needs, and using available resources more efficiently.