In order to increase their success rate in project management, many organizations are using a very systematic approach to project management. The emergence of the Information Technology (IT) industry has led to some new developments in project management. The IT industry is highly project-oriented.
Good project managers are always in great demand in this industry.
IT companies train their project managers in some common, systematic approaches to project management like PMBOK, PRINCE 2, Critical Chain, Agile et al.
The PMBOK is the acronym for Project Management Body of Knowledge. It is issued by the Project Management Institute (PMI) and contains the project management practices recommended by PMI. The PMBOK contains a process-based approach to project management. This approach is widely used across different industries and sectors. It usually divides a project into five stages: initiation, planning, execution, monitoring & control and closing.
The PRINCE2 approach is acronym for Projects in Controlled Environment. This approach is about much involvement of the senior management in the management of the project. Things are not left only to the project manager and the participation of senior management is called for. Like PMBOK, it too is a process-oriented approach. It is widely used in projects that are large and complicated in nature.
The critical chain project management approach (CCPM) focuses heavily on the resources required for the project. The underlying belief of this approach is that if the resources required for the project are available, adequately and timely, the project can be completed successfully. The approach focuses on identifying resource constraints and removing them.
Agile approach to project management is very popular in technology industries like IT. The focus is on iteration (repetition until the thing is done right) and incremental developments and improvements. This approach requires capable team members who are experts in their respective areas. These team members interact and collaborate to work on a software development project or other such project. The Agile approach also relies on continuous interaction and collaboration with customers and suppliers. The iteration leads to creation of delivery cycles. The project is delivered in stages in a number of delivery cycles.
The approaches mentioned above are some of the common approaches to project management that are being widely used these days. A good project manager should be aware of the developments that are taking place in the area of project management. He or she should be aware of the popular approaches to project management. Project management is a dynamic field that keeps evolving incrementally.