![]() Now that’s important! Waterfall requires the exact requirements and specifications of the finished product to be documented from an early stage. During the project initiation stage (see below), a consensus on the correct balance should be established, then finalized in the planning stage. The balance of these three factors will greatly influence how the project’s deliverables finally look. The process of deciding on a project’s to-dos depends on the three factors: time, cost and scope, the corners of the so-called project management triangle. The Waterfall Methodology is a relatively simple philosophy: define what needs to be done, then do it. It is thus important to understand the strengths and drawbacks of each approach to ensure that the approach you choose helps you execute your project efficiently. ![]() The choice between classic and agile methodologies defines the way in which project managers approach their projects, which in turn has a significant impact on results. Selecting an appropriate project management strategy, twinned with effective communication at all levels of the organization, can help companies achieve their goals. It is important for business leaders to have a solid grasp of development processes, while it is equally necessary for non-customer-facing teams to understand the requirements of corporate stakeholders and know what they need to do to meet them. The project management methodology you choose connects a wider business strategy to the people who turn its ideas into realities, providing the framework necessary to make things happen.įor this reason, choosing the most suitable methodology requires a clear understanding on both sides of the business about the needs of a company, which is essential to achieving positive outcomes through focused project work.
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