[Video 5] Project Methodologies. Predictive, Adaptive (Iterative, Incremental & Agile) and Hybrid - PMP Basics - Watershed Project Management PMPUL _SM WatershedPM

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00:00 Previous Video: Project Initiation and Agenda of this video
00:55 All Types of Project Methodologies
03:16 Predictive Project Management Methodology
05:56 Incremental Project Methodology
08:08 Iterative Project Methodology
10:23 Agile Project Management Methodology
13:23 Example of Hybrid Project Management Methodology
14:36 Next Video: Agile 101

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Hello:)
Welcome back to the "PMP underline" series in the previous video we had discussed everything about project initiation and all the different steps that you can cover as part of project initiation in your project and in today's session we will discuss all the different project methodologies and what are the differences between each of them all the different project methodologies that we'll discuss today are covered in lesson 2 topic A of the student manual and the idea of this bite size mini eclipse is that you watch a video with me and when you go back to your student manual you'll have some understanding of what you're looking for and as you read through the student manual it would become easier for you to understand and grasp all the fine details and the key differences between all the different methodologies so with that understanding let's get started for many projects the project methodology may be an obvious thing and this is something that would be clearly and widely understood between the team members and the different stakeholders in terms of what would be the most appropriate or the suitable methodology or the expected methodology that's going to be applied to the given project however for certain projects determining the methodology may not be so straightforward and easy.

To begin with on one side of the spectrum we have the plan driven or the predictive project methodology this is sometimes referred to as traditional project methodology because when project management got started in those days before the i.t revolution most of the projects were either from the construction industry or the mechanical engineering related projects or industrial related projects and one of the key characteristic of a plan driven project is that the scope of the project is widely understood and is clearly defined very very early in the project on the other side of the spectrum you have projects in which change is a constant these are all the projects that are grouped as adaptive projects and we'll discuss how change management can very easily get incorporated and embedded into the project in between these two methodologies predictive and plan driven on one side and adaptive and change driven on the other side we have what is called as the hybrid project methodology and in essence the hybrid methodology is a blend of predictive and adaptive and the idea is that some portions of the project or some aspects of the project would be done with the with the predictive approach while some other aspects of the project may be susceptible to change or change may be expected for those components those aspects of the project and hence in a hybrid methodology simply by combining predictive and adaptive methodologies you would be able to successfully deliver the project when it comes to adaptive project methodology it can further be broken down into three types one of them is iterative and you have incremental and also agile project management methodologies so we'll cover all of these different methodologies today and the idea of this bite size clip is to better understand each of this methodology and the differences between them let's get started ...