If you’ve ever taken a tour of a co-working or startup office space, you’ve probably heard the terms ‘Agile’, ‘Scrum’, and ‘Waterfall’ communicated between the offices.

While they may sound like terms more suited to a rugby game, or someone's weekend excursion, they are, in fact, project management ideologies—and there are plenty more where those came from.

What Is a Project Management Methodology?

A project management ideology or methodology is essentially just the name given to a system of practices and techniques used to assist a project manager with their project or task. Different methodologies promote different strategies, and each has its own set of rules to follow.

How Many Project Management Methodologies Are There?

There are thousands of different project management methodologies in existence, that’s right, thousands. With no two projects exactly alike, new project management methodologies are invented all the time, but almost all of them can be traced back in one way or another to just a handful.

While this list isn’t exhaustive, it should give you an idea of the seven most popular project management ideologies and who they’re best suited for. Let’s jump right in.

1. Agile

People working on a project

Agile is one of the most famous projects management ideologies. It was initially invented for software development and allowed for far more flexibility than other more linear and rigid methodologies.

Because of its adaptiveness, Agile is most popular with new startups and project managers who need to manage complex and continuously evolving projects because of its adaptiveness.

At its core, an Agile project management methodology promotes speed and collaboration and typically involves short phases of work and frequent testing and adaptation when necessary.

2. Waterfall

The Waterfall project management methodology is one of the oldest and most traditional project management methodologies out there. Unlike Agile, which promotes flexibility, Waterfall takes a sequential approach and is best suited for large and linear projects with strict deadlines.

The stages of a Waterfall project management methodology are very rigid, and project managers generally follow the following sequence:

  • Requirements
  • Analysis
  • Design
  • Construction/coding
  • Testing
  • Deployment, operation, and maintenance.

Teams must complete each stage of the sequence before the project can move to the next step, and workflow should only move in one direction, just like a waterfall.

3. Scrum

Scrum is a form of agile project management and is sometimes viewed more as a framework than a methodology in itself. Scum generally works best for small teams working collaboratively.

Small teams are led by a Scrum Master (not to be confused with the project manager). The Scrum Master is responsible for leading each work cycle, known as a ‘sprint’. As its name suggests, each ‘sprint’ is a short time frame of work, generally lasting between one and two weeks. At the end of each ‘sprint’, the Scrum Master is responsible for reviewing progress and making any necessary adjustments before starting the next ‘sprint’.

In addition to ‘sprints’, within the Scrum framework, teams will also often hold a Daily Scrum, a short 15-minute meeting held at the same time at the start of each day. During this meeting, achievements are shared, and any roadblocks are mentioned.

4. Lean

A Lean project management ideology is one that focuses on reducing waste and maximizing value. It is often best suited to manufacturing businesses but can be used by any team looking to improve their efficiency.

While traditional project management methodologies such as Waterfall tend to be structured in phases, Lean project management is designed to help teams increase efficiency by focusing on value from the customers’ perspective.

For Lean project management to work, organizations need to strive for continuous improvement. Slowly but surely, by optimizing each of their processes, the overall value provided by the business is improved, and waste can be reduced.

5. Kanban

Kanban Board in Office

Like Scrum, Kanban is also a form of Agile project management. It is extremely popular with teams and businesses who like an immediate visual overview of their project.

When using a Kanban Methodology, tasks move their way through columns on a Kanban board. Each column represents a stage of the process. Not only does this give a great visual overview of any given project, but it can also help to highlight bottlenecks in the process.

Asana is just one example of a creative project management tool that utilizes the power of a Kanban board.

6. Six Sigma

A Lean project management methodology aims to improve value by reducing waste; a Six Sigma project management methodology seeks to reduce errors. Generally speaking, Six Sigma is best suited to larger companies or businesses whose primary aim is to improve quality or efficiency.

The Six Sigma project management methodology emphasizes the use of quality management methods such as statistics or expert opinion to find and remove errors hindering the project goal. While Six Sigma is a project management method in itself, it can also be coupled with Lean, to become the combined Lean Six Sigma project management solution that focuses on the reduction of both waste and errors.

If you’re looking to improve your business processes, then you’ll use the Six Sigma DMAIC process: Define, Measure, Analyze, Improve, Control. Whereas if you’re trying to create new processes or products, you’ll use the Six Sigma DMADV process: Define, Measure, Analyze, Design, Verify.

7. PRINCE2

Lastly, we have PRINCE2, which stands for PRojects IN Controlled Environments. The PRINCE2 project management methodology has its own certification, which is also the standard project management qualification in the UK.

The PRINCE2 project management methodology is based on seven principles. These cannot be changed or tailored, making the PRINCE2 methodology perfect for businesses that like to work to protocol. The seven principles of the PRINCE2 methodology are:

  • Continued business justification
  • Learn from experience
  • Defined roles and responsibilities
  • Manage by stages
  • Manage by exception
  • Focus on products
  • Tailor to suit the project environment

Choosing the Right Project Management Methodology for You

When choosing the correct project management methodology for your business, there are three key things to consider. Firstly, you’ll need to assess your budget. Some of these methodologies cost more to implement than others.

Next, you'll want to consider the size of your team. Some methods, such as Scrum, are better suited to small teams, while others may suit larger groups better.

And lastly, you’ll need to assess how flexible you require your project management methods to be. If your project is very fluid, then a more agile methodology allows it to evolve.