Course Title
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