A lot of companies are searching for the magic solution or methodologies or the frameworks that provide the organization with tremendous profitability by increasing the market share for their products or services. There is no one magic solution; however, the solution is the combination of the latest frameworks available in the project management sphere.
This gives the projects with the latest developments in the project management fields to control and manage the projects optimally. You need to choose from the available project management framework that fits the organization. The benefits are faster time to market, less lead time, less number of iterations, high performance, fewer overheads, and high-quality products.
Overview of Project management framework
The project management framework is a combination of tools, strategies, principles, processes, and methods from various frameworks such as PMBOK, Prince2, etc. It is the project managers who are certified in these areas and learn other concepts to deliver successful projects.
The constraints which are to be controlled are cost, scope, and time, etc. For example – Consider a project for a global multi-national, developing an application in the US with hiring in India, with customers in Europe and part of development taking place in Israel, etc.
The question is, “can you acquire skills with project manager certification?”
The answer is, “Yes, it is possible,” all you need to do is to identify the right training and go through a detailed session in Prince2, or CAPM to apply your skills in this area for the global project.
7 project management frameworks
The 7 project management frameworks are as follows,
- Agile Project Management
- Critical Chain Project Management (CCPM)
- Kanban Methodology
- Lean Project Management
- PRINCE2 Methodology
- Scrum Methodology
- Waterfall Methodology
1. Agile Project Management – It is an iterative approach throughout its life cycle for delivering products or services.
2. Critical Chain Project Management (CCPM) – The critical chain method is a technique that includes the time duration buffer into the account for limited resources in such a way to focus on the planned activity durations.
3. Kanban Methodology – This is a work tracking tool used to visualize the flow of work from “to-do” to “work-in-progress” to “work done” status.
4. Lean Project Management – Lean principles are used to maximize the value in the projects by minimizing the waste.
5. Prince2 Methodology – There are 7 project management principles in Prince2 for controlling and managing the projects for being successful.
6. Scrum Methodology – It consists of a series of iterations called sprints. These iterations at the end of every cycle produce a potentially valuable deliverable product increment.
7. Waterfall Methodology – This model is a non-iterative process in such a way that every phase is completed to go to the next phase of development.
The below-mentioned diagram provides an overview of the 7 frameworks,
Guidelines in choosing the project management framework
The guidelines are listed below,
- If you have a fast-changing environment such as products, technology or industry then a more adaptable framework like XPM or Scrum is chosen
- If the products or services that are intangible such as software are not well defined then sprint approach is chosen
- For prince2 or waterfall methods, the projects must be stable and well defined and planned out in its entirety decreases risks
- If the organization has not chosen one of the project models such as XPM before then choosing that would be risky.
- If waste is the critical concern then choose the lean framework
- It is even possible that you may be picking the ideas and principles from more than one framework in a particular project, and that should be fine.
How to create a project management framework
This is not easy as you can imagine the project management varies from organization to organization and from project to project.
First, it is not a one-time activity and it takes time and many revisions.
Second, you need to keep modifying and trying out the different frameworks as you gather more information about the projects, organizations the type of projects, etc
Third, You need to remember that the framework changes from one to another, however, the fundamental principles remain the same.
There are 4 main strategies for creating a project management framework they are as follows,
1. Project Path - It may be that you are assigned an internal project or the external project for the clients. There are key parameters such as approval process, reporting, services standards, execution, delivery and KPI's, etc.
2. Take from the Project Management Methodologies - You need not reinvent the wheel when it comes to methodologies, they are already there and you need to pick from one what is suited to your project.
3. Creation of Modular Project management framework - Divide the projects into parent and child relationships. Let it be broken down into smaller modules.
4. Rules for your Project framework - The project management framework’s primary work is to make the project work uniform and consistent throughout the organization. So the first thing is to form rules for every project.
Benefits of Project management framework
The project framework helps you in making the projects consistent, repetitive, and uniform to deliver the value each project is started for.
Some of the benefits of the project framework are as follows,
- Improvement in coordination, collaboration, and communication across all teams in the organization.
- It increases productivity by allowing the projects to be repetitive and consistent.
- Knowledge sharing is enhanced across the organization by creating repositories and knowledge base.
- It streamlines the processes and the management across the organization
- By the creation of plans and templates, it enhances the accessibility and efficiency.
- It provides the competitive edge to the organization adopting the framework by curtailing the shortages to the parameters such as time, scope and cost
Best practices of Global Project management framework
The best practices of the project management framework are divided into 5 categories as shown in the diagram below and are also listed below,
1. Global team management - This takes in to account the different cultures, time zones, and locations.
2. Global organizations - You need to make use of global locations across the border for the project work
3. Global communication - You need to open the channels of communication between the various collaborators.
4. Collaborative tools - To open the communication and project work across the geographies, you need to use collaborative tools.
5. Collaborative techniques - This is based on the tools that you use to collaborate with global teams.
A brief intro for a global Project management framework
|Brief History of Global Project management framework|
|Serial #||Year||Developments in Global Project management framework|
|1||1917||Gantt Chart was developed|
|1957||Creation of Critical Path Method (CPM)|
|3||1957||Creation of Program Evaluation Review Technique (PERT)|
|4||1965||Formation of the International Project Management Association|
|5||1969||Formation of the Project Management Institute (PMI)|
|6||1975||PROMPT II method originated|
|7||1984||Theory of Constraints|
|9||1989||PROMPT II method was later adopted with modifications as Prince2|
|10||2001||Manifesto for Agile software development framework was developed|
Which project management framework you will choose
We have discussed here various Project management framework how they impact the projects and what are the benefits and implementation plans.
StarAgile is a training institute which provides online-based training for all the certifications such as PMP Training from from PMI.
StarAgile is an authorized training center for PMI certifications. To enquire click on the links provided which will take you to the various certifications page for registrations and for providing more details.
Happy managing your project and team!!!