8.3 Other methodologies

In this lecture we have shown only some of the currently available methodologies and techniques yet, but there are a lot of others. We have not enough space and time to show all of them but in this section we mention some other methodologies.


Traditional approaches                                 

  • There are several different form of traditional approaches: the common factor is that there is a sequence of steps to be performed and completed
  • For example the Waterfall approach in software development has the following consecutive steps: Requirements, Design, Implementation, Verification, Maintenance


Critical Path Method

  • Algorithm for scheduling a set of project activities
  • Construct a model of the project that includes all activities, their duration and dependencies, and milestones
  • A critical path: the longest overall duration
  • A project can have several, parallel, near critical paths
  • CPM analysis detects such critical paths


Earned Value Management (PMI)

  • Measuring project performance and progress
  • Measure scope, schedule and costs simultaneously
  • Three basic elements of EVM:
    • Planned Value (PV): what value should be reached at a given moment
    • Actual Cost (AC): what cost has been spent at a given moment
    • Earned Value (EV): what value has been reached at a given moment
  • Monitor and review continuouslyAgile EVM (burnup and burndown charts with PV, AC, EV, …)
    • Schedule Variance (SV) = EV – PV (SV > 0 is good)
    • Schedule Performance Index (SPI) = EV/PV (SPI > 1 is good)
    • Cost Variance (CV) = EV-AC   (CV > 0 is good)
    • Cost Performance Index (CPI): CPI = EV/AC 
      • CPI < 1 is bad
      • CPI = 1 is good
      • CPI > 1 can be either good or bad
    • Agile EVM (burnup and burndown charts with PV, AC, EV, …)


Extreme project management

  • Extreme project management developed for very complex and very uncertain projects
  • Open, elastic and undeterministic approach
  • Main focus is on human factors, i.e. the stakeholders


Further readings

  • Critical chain project management
  • ISO 21500: 2012 - Guidance on project management
  • The International Association of Project and Program Management
  • Association for Project Management