Knowing which methodology to adopt for which project is necessary for proper aggregate project planning. Here's how project managers can choose between trusted waterfall method and the trendy agility
Speed in execution is key, and agile methodology with lightweight managers is pursued, similar to scrum masters for rapid time boxed execution
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Agile appears to be the way to go, as project manager after project manager and company after company seem to swear by it. The IT and software industry was amongst the firsts to adopt this approach as often the end objectives (what their customer wants) keep changing and the flexibility afforded by the agile methodology is welcomed. With the successes achieved in various projects, eulogies have been overflowing for the agile method. With almost every industry evolving fast, gross uncertainties, and if the product under development is late to the market, the calls to adopt agile grow. It is impossible, on any given day, to not come across some article that attempts to show how agile can be adopted in yet another industry. The traditional approach adopted by most industries has been the waterfall method where the objective of the project is known in advance and the project progresses through identified stage gates. Then what is it that agile can do that waterfall cannot? Can agile really replace waterfall? Or is it noise without substance?
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Why do companies do projects? There is a plethora of reasons: new products, new processes, change in businesses, and so on. The decision on whether to proceed with a waterfall or agile method is more seen in product development projects where a company plans to enter a market with a product but may need to change track midway if market needs and expectations change. These product development projects can be broadly divided into research and development projects. In research projects, companies seek answers and solutions to supplement knowledge and capabilities, akin to breakthrough projects. Development projects, on the other hand, have a definite goal in mind and the waterfall method has been traditionally adopted across most industries.
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[This article has been published with permission from IIM Bangalore. www.iimb.ac.in Views expressed are personal.]