What Is A Project Management Framework? (Must Read)
28 September 2020
A Project Management Framework (PM) is a plan to ensure project completion. All projects have a specific goal with a completion date.
This structured plan enables all involved to keep on track with the project. It also explains everyone’s responsibility to ensure the success of the project. A designated project manager manages the project from start to finish.
Project Management Framework includes three major parts: lifecycle, control cycle, and tools. These are necessary for implementing and completing a project.
Project Management Framework
What is the framework? It enables the use of more effective strategies. It establishes a common language to be used so that all can understand one another.
Framework also allows for more flexibility. As a project progresses, the possibility of an earlier completion may arise. Working with a variety of professionals allows the key personnel to better manage the project.
There are a variety of frameworks. Each has its defined methodology. This article created by our team at TMS, will discuss a few of those available. The analysis will help project managers to choose the framework that is best for their project.
Seven Effective Project Management Frameworks
The project management framework chosen depends on the size of the organization, type of work, budget, industry, and timeframe. Listed below are seven different types of frameworks.
Prince2 is a project management framework program and methodology. It divides the project into controllable steps. The training module is available in a variety of languages.
This framework was originally developed as a UK government standard for IT project management. Its phases consist of business case analysis, organization, quality, plan, risks, change, and progress.
The methodology focuses on people, resources, and physical spacing. The Critical Chain Project Management program is noted for helping to complete projects faster. This is due to the rigid scheduling of tasks.
As a result, CCPM cuts back on project costs which is beneficial for those working within a strict budget.
The lean project management framework focuses on delivering quality service by using resources efficiently. Its methodology is derived from the Toyota Production System (TPS). TPS focuses on creating less waste and providing quality products to the consumer.
The agile project management framework aims to provide maximum value to clients within the desired timeframe and budget. It allows for flexibility. There is no need for extensive planning before the project starts.
The project manager collaborates with the Stakeholders throughout the project. This allows them to make adjustments along the way.
The waterfall is a more traditional framework with tasks carried out in phases. One phase must be completed before starting the next one. Waterfall outlines a defined planning framework with all phases taking place in exact order.
Scrum project management framework is good for small projects. There is no complex planning needed before the project starts. The team meets daily to discuss tasks and any roadblocks to overcome. Tasks are accomplished in short succession.
Managing complex projects in complex environments is known as Extreme Project Management (XPM). XPM is perfect for those who expect unstable circumstances during the project.
Before starting the project, the project manager invites Stakeholders to a meeting. The object of this is to discuss the project plans, as well as any unexpected situations that could arise.
Major Components of a Project Management Framework
The three major components of PM are lifecycle, control cycle, and tools.
The lifecycle consists of five processes. These are: Initiation process, planning process, execution process, monitoring process, and project closing process.
- The initiation process is the starting point. Discussion of the project goal begins. The viability of the business case is determined when the Project Manager meets with the Stakeholders.
- In the planning process, the project goals are defined. There are two types of goals: Smart goals and Clear goals. Smart goals are specific, measurable, attainable, realistic, and timely. Clear goals are collaborative, limited, emotional, obvious, and refinable. This stage also involves the discussion of roles and responsibilities.
- During the execution process responsibilities are officially Updates and project status reports are developed.
- The monitoring process requires the Project Manager to assess the project. An update is issued to the Stakeholders regarding the project status. Adjustments to schedules and resources can occur at this point.
- Project closing indicates the project is reaching the completion stage. Contractors complete their workload.The project manager informs the Stakeholders of the project accomplishments. The remaining team members are assisted to complete any loose ends.
The control cycle entails monitoring results and making adjustments as needed. The use of software aids in this aspect of Project Management. Stakeholders are informed about the progress of the project. Through good communication, the Project Manager may discover that adjustments should be made to keep the project on track.
The tools component of PM includes software that allows you to track the progress of the project.
What’s the difference between Framework and Methodology?
The framework is a basic structure for understanding project management. It deals with the processes to accomplish a project, but also allows for other practices and tools to be used. It also includes phases that may not be mentioned in the methodology. For example, complex onboarding processes and assessments may be undertaken.
This allows the structure to develop and become more effective. Prince2 and Waterfall are examples of frameworks.
Methodology sets defined rules that help direct the project. They govern how people will interact and communicate with one another.
The methodology also gives organizations a standard to work by. With each completed project organizations discover which rules work and which rules do not. This allows them to develop more efficient standards to govern future projects. As a result, methodology contributes to an increase in successful projects.
Two examples of the methodology are Lean and Waterfall. The Lean methodology focuses on reducing waste of both resources and time. The Waterfall methodology involves planning the whole project and executing it in phases.
Ending thoughts on the project management framework
The framework is crucial to the success of Project Management. It gives structure to a project, allowing others to see how they can achieve the project goal.
Project managers have a variety of frameworks to choose from. The right framework makes it possible to achieve the goals of the stakeholders.
It can also help an organization see how they can improve their processes. This contributes to completing the project on time, and to more efficient use of resources.
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