Exploring the Primary Benefits of Agile (PM) Project Management

The change in the business world is getting more intense day by day, leading to a demand for projects to be completed fast and within a strenuous budget. This is the reason organizations are moving towards AgilePM Project Management to help keep pace with the changing world and meet the new industry demands.  

Agile Project Management or AgilePM is a project management approach that promotes flexibility, collaboration, and continual development. Compounding Agile and project management ensures companies reduce waste while increasing transparency, simultaneously addressing customers' ever-changing requirements. According to a recent report, 1 out of 5 projects were successfully completed using some Agile approach combined with project management during the last year. 

What is Agile Project Management? 

AgilePM is a continual approach to working on projects. The repetitive nature of the process ensures that the project moves forward in short performance cycles and includes taking steps like planning, testing, development, and reviewing the outcomes. While an agile cycle progresses, a team collects stakeholder feedback to help plan a new iteration ahead.  

In traditional project management methodology, the project manager usually pulls all the weight and is responsible for the cost, scope, quality, risk, reporting, and adapting to the required changes. On the other hand, Agile Project Management is a collective approach where all responsibilities are divided into three primary roles, Product Owner, Scrum Master and Team Member. According to data, projects using Agile methodologies are 28% more successful, and almost 71% of businesses are embracing Agile with varying frequencies.  

Benefits of Agile PM 

Some of the significant benefits of AgilePM are: 

• Flexibility and Adaptability 

One of the top advantages of AgilePM is its nature of integral flexibility and adaptability. While traditional project management methodologies often struggle accommodating changes, AgilePM is easily adaptable to amendments and treats alterations as an opportunity to enhance the quality of the final product.  

AgilePM utilizes iterative development cycles, allowing project teams to continuously review and adapt their strategies based on evolving requirements, market conditions, and stakeholder feedback. This flexibility enables projects to quickly respond to changing priorities and deliver value to customers, that too in a most timely manner. 

• Enhanced Customer Satisfaction 

AgilePM emphasizes customer collaboration and involvement throughout the project lifecycle, thus ensuring customer satisfaction. Regular customer feedback and involvement help ensure the project aligns with their needs and expectations.  

By virtue of incremental outputs and soliciting regular customer feedback, AgilePM enables early identification and resolution of any potential issues. The customer's ability to watch tangible progress and provide real-time feedback results in an up-scaled final product while meeting their expectations.  

• Iterative and Incremental Development 

Another advantage of AgilePM is it follows an iterative and incremental development approach. Under this process, the complete project is divided into smaller and more manageable fragments called iterations. Each of the iterations uniquely focuses on delivering a specific set of functionalities. Therefore, this process enables an early and continuous delivery of value to its customers while reducing time to market.  

Moreover, AgilePM provides opportunities for ongoing learning and improvements as project teams mitigate problems. The iterative nature of AgilePM also ascertains better risk management, as all the potential issues can be identified and addressed earlier during the project lifecycle. 

• Effective Communication and Collaboration 

AgilePM also encourages frequent and open communication among project team members, stakeholders, and customers. Regular meetings, including daily stand-ups and sprint reviews, ensure that everyone remains informed about project progress, challenges, and about future steps. 

Collaboration is emphasized during the AgilePM process, with team members working together to solve problems, make decisions, and prioritize tasks. The focus on effective communication and collaboration enhances transparency, fosters a sense of shared ownership, and strengthens the project team dynamic. 

What is the Role of a Project Manager on an Agile Project? 

The role of an Agile project manager is entirely different from the traditional one. Below are some ways explaining how the Agile project manager role differs from the traditional project manager.  

• Authority: The traditional project manager works as per the hierarchal position, while the Scrum Master works as a facilitator. 
• Managing Expectations: During Agile Project Management, managing stakeholders' responsibilities is handled by the product owner.  
• Work Assignments: While a traditional project manager assigns and supervises their team, in an Agile setting, it is the duty of the team members.  
• Removing Obstacles: This role is usually transferred from the project manager to the Scrum Master in an Agile setting.  
• Leadership and Support: The scrum master is the main responsible person and supports the product owner with the help of the Agile team.  

Conclusion 

AgilePM Project Management offers several significant benefits that can contribute to the success of various projects irrespective of their size and type. Its flexibility, adaptability, customer-centric approach, iterative development, effective communication, and continuous improvement all work together to enhance project outcomes.  

If you want to adopt AgilePM principles and practices, call Knowlathon today. This course will help you lead project teams, and you will learn how to navigate the challenges of today's dynamic business environment, deliver value to customers, and achieve project success.