SCENARIO.docx

Running Head: Milestone one 1

2
Milestone one

Milestone one

Scenario selection- Valpak

Valpak’s ability to use technology in the improvement of business operations is very crucial. The company transformed the entire project management process of the organization to an agile scrum methodology that has 2-week sprints. The IT of the company supports technology for various stakeholders within the business. The corporate, franchisees, merchants, and the corporate. The business instead of confining itself to the use of only one approach uses a mix of two approaches; agile scrum and the kanban process. The organization needs to shift to more organized teams.

Traditional project management (TPM)

This refers to the framework in project management where projects follow a defined sequence. The projects go through the initiation, planning, execution, and closure the project. This framework has well-defined goals and objectives; before the onset of a project the team knows what they need to achieve, the budget, and the timeline (Abdullah & Al Hashimi, 2019). The time and the budget for the projects under this framework are variable; can change over the lifecycle of the project. The framework emphasizes more on a linear process and documentation.

Adaptive project management

This is a framework that allows the users to learn from the previous stages and base decisions on what happens in previous stages. The principles of the framework include an iterative process. Also, the framework uses quantitative methods to measure the performance and the progress that has been made by projects. Another principle of the framework is the regular adaptation to circumstances and situations. The framework is flexible; the requirements, scope, and deliverables of the project can change during the lifecycle of the project.

Triple Constraint

The three constraints of project management include the scope, time, and budget of the project. In traditional project management, the scope of the project is defined and constant since the change in the scope could lead to additional costs. to make sure that the scope of a project does not change over time the scope is monitored and the trade-offs are discussed before the project can start. The time constraint is created using the well-known scope, under TPM the scope is used to come up with a schedule that will help ensure the project ends within a given period (Peszko, 2020). the budget of the project is created using estimates that are made using forecasting methods.

Types of project management approaches

There are very many types of project management approaches. The waterfall method is the traditional project management method where projects follow a sequence and the project is broken down into milestones. The agile project management approach refers to the framework which applies the principles of software development in the management of different projects (Parajes et al., 2017). The framework embraces efficient communication among the team members and values collaboration. The stakeholders involved work together and their output is considered very important.
The scrum approach involves the use of a small team which is usually led by a scrum master. The main role of the scrum master in the process is to ensure that all the obstacles in the project management process are removed. The main focus of this approach is the satisfaction of customers through early and continuous delivery. The approach is more transparent compared to most approaches. The kanban framework is aimed at producing only the quantity which is needed and also ensuring that the quality of the output is guaranteed.

References
Abdulla, H., & Al-Hashimi, M. (2019). The Impact of Project Management Methodologies on
Project Success: A Case Study of the Oil and Gas Industry. Journal of Engineering, Project & Production Management, 9(2).
Pajares, J., Poza, D., Villafañez, F., & López-Paredes, A. (2017). Project Management Methodologies in the Fourth Technological Revolution. In Advances in Management Engineering (pp. 121-144). Springer, Cham.
Peszko, A. (2020). PROJECT TEAM IN PROJECT MANAGEMENT METHODOLOGIES. Decision Making in Manufacturing and Services, 14(2).