How do you define a project as successful?

When all the project tasks are performed efficiently such that they meet the business requirements, are completed on time and within budget, a project is called successful.

There are a number of factors that are important for managing projects well.

• Comprehensive and detailed planning
• Realistic estimation and scheduling
• Clarity about roles and responsibilities
• Effective collaboration between team mates
• Sound communication channels for seamless communication
• Spotting of project loopholes at the right time
• Monitoring the project progress through reports

While all these points are the deciding factors to ensure the success of a project, project management methodologies play a crucial role in implementing these requirements.
Project management methodologies are the set of governing principles and processes to manage a project. The ways of your work and communication while handling a project are decided by the methodology you choose.
The type of methodology you choose depends on:

• Your team type
• Your team size
• Your budget
• Project scope etc.

Being a project manager, choosing the right project management methodology is the first decision you have to make. Different methodologies have a different focus, while some are directed towards speeding up the processes, others might bring comprehensiveness in processes.
This infographic brings some brief yet impactful insight into the core properties of various project management methodologies. These are definitely the most popular project management methodologies being followed around the world.
We hope that it will help you get clarity on which solution you should choose for your projects.