If you want to be efficient with project management, you have to use the right tools and techniques. While your ServiceNow portfolio management helps align your efforts with your strategy, it’s still recommended to pair this tool with proven project management techniques.
There is a wide range of project management methodologies to choose from. But the right technique depends on the complexity of the project, its specifics, the team involved, and other factors. Below we listed down some conventional methods used in project management.
This classic, straightforward approach involves simple steps to complete a project. It begins with an assessment of the future work and preparing a plan. Throughout the project, you are required to estimate the tasks to perform, allocate resources, get feedback from the team, assess the quality, and monitor completion.
Works best for: small groups where it isn’t necessary to implement a complicated process.
This method takes the simple traditional approach a notch higher. It is called ‘waterfall’ because it is based on the sequential performance of tasks. This means your team needs to complete one task before you can proceed to the next one. Collaboration is key to this technique as more team members often work on a larger task. Before you start a project, you need to define all the requirements for the tasks to make it more organized.
Works best for: complex projects that need rigid work structuring and detailed phasing.
Agile project management is one of the most widely used methods right now. In this technique, you break down a project into sprints or cycles. Team members need to move quickly and respond to changes swiftly, as the word ‘agile’ suggests.
Works best for: software development projects involving frequent iterations and consist of a few team members.
PRINCE stands for Projects in Controlled Environments. In this methodology, the core project is divided into smaller projects. These smaller projects follow their own set of steps to get the work done faster. You also clearly define the positions and descriptions of each position to avoid confusion in the process.
Works best for: any organization as this technique uses standard principles.
Critical Chain Methodology
The critical chain method revolves around resources and other constraints. While in conventional methods, the time estimate or “safety time” is larger than the actual time required to complete a project, it differs in critical chain technique. In this method, the required estimated time is cut in half. You then allot half of the time to core components, aka critical chain, to ensure you give ample time to vital tasks. The other half is allotted to other less important processes.
Works best for: complex projects where resources are limited.
While your ServiceNow portfolio management gives you full visibility into all of your resources, demand, and project portfolios, the right project management method gives you greater control to these crucial elements. Using the right combination of project management tool and technique will help you create decisions for your team to speed up and automate your entire workflow. This ensures successful project delivery that is compliant with your client’s deadline and requirements.