All businesses have many choices from the project management methodologies there is to follow. In some cases, the industry that the business specializes in is the deciding factor while for others it might be the business model that is the deciding ingredient. No matter what is the decision maker in a company, once a methodology is adopted, it has to be maintained.
The different project management methodologies out there are waterfall, cyclic, agile, scrum and lean to name the most popular. In most cases, there is a particular set of software programs that fall into each of these categories to help assist a company follow their decision.
When deciding on one of the project management methodologies to use, history and your competition may help. In the manufacturing sector, it would not make economical sense to pick any other methodology other than the lean methodology. The reason is clear that since most other profitable manufacturers use it, you need to also. This will allow your profit margin to be acceptable so you can stay in business and keep the stakeholders happy with a revenue stream.
The choice of the project management methodologies is more than just a path on how to create and run projects. In most cases, it is how a business attitude for a company is thought of by its employees. The Agile methodology is a great example of independence among the workers that exposes the greatest level of creativity. This methodology works beautifully in the software industry. Since it is all computer generated, the location of the worker is immaterial. What is important is that the employee has the discipline to complete the assigned tasks on time.
When deciding on which of the project management methodologies to utilize, a person needs to consider many variables. The discipline of their workforce to work independently, the industry they are in, along with the desired profit margin all play an important factor on which is the right methodology to utilize for the best possible results.