Today’s project management revolves around using the right tools and techniques. You can more easily and successfully manage your projects if you have these two items in order. Numerous studies have shown that utilizing the appropriate project management tool and practices can improve your general performance, productivity, as well as your levels of pleasure at work.

A project’s structure, work distribution, resource use, and occasionally even its outcome are all determined by project management strategies. A project manager and their team might adhere to several project management strategies. To help you understand what these are all about and how exactly you may go ahead and execute them, we have gathered the best of the best for you today.

• Critical Chain Approach

The Critical Chain Methodology was first mentioned in 1997 by Eliyahu M. Goldratt in his book Critical Chain, where he defined it as a project planning and management approach that aims to maintain level resource allocation. It differs from other approaches in that it ensures that the project plan is realistic and timely by placing more emphasis on resources than on the methodology itself.

• Waterfall

Since the Waterfall methodology is sequential, each task must be finished before moving on to the next in the pipeline. Here, every requirement needs to be established upfront for the project plan to be organized and planned properly.

• Work Breakdown Structure

Every project consists of a variety of little and large activities that, at first glance, can be overwhelming for both project managers and team members. Through the use of smaller, more manageable portions, this project management strategy organizes larger, more complex activities. WBS is a crucial project deliverable that establishes a comprehensive cost or time estimate to provide management with a clear knowledge of how much your estimate will cost or how long it will take to complete.

• Extreme Project Management (XPM)

When there is a lot of uncertainty involved in a project, this project management strategy is applied. It emphasizes less formality in the workplace atmosphere and adopts a more laid-back and upbeat planning style. The opportunity for adaptable planning and unconventional strategies is responsible for the extraordinary title.

• PRINCE2

Projects In Controlled Environments 2 is referred to as PRINCE2. It is a system for managing projects that are composed of both principles and procedures. Prince2 is a clearly described methodology that was developed in the UK and divides a project into several levels and stages, each with its own set of instructions to be followed.

• Project Management Based on Process

Process-based project management is a methodical and strategic approach that identifies the project’s objective and harmonizes it with the company’s purpose, vision, and core values. This methodology places a strong emphasis on enhancing communication between diverse corporate divisions to accomplish shared objectives.

Choosing the best project management software and methods for your company can be overwhelming, especially when there are so many options on the market. We hope the approaches on this list will assist you in coming to a wise decision that benefits both your team and your company.