Here are examples of project management tools and techniques that a leader should know to improve project management.
Project Management Tools and Techniques
1. PERT Chart or Gantt Chart
This chart type is used to plan the time required for the completion of tasks in a project. These chart types can be useful to schedule the project from start to finish. It is also a production control chart that shows the time taken to complete a task.
2. Critical Path Method
This chart type is used to calculate the critical path of a project showing how long it will take for completion. It can also be useful to predict the time of completion of a project.
3. Work Breakdown Structure (WBS)
This chart type can be useful for breaking down a project into smaller parts for better understanding.
4. Critical Chain Project Management (CCPM)
This approach combines PERT and CPM methods, where task time buffers are added to critical paths. Also, this approach helps in resolving resource conflicts by assigning critical tasks to critical chains.
5. Cost-benefit analysis
This approach is also known as benefit-cost analysis. It is used to determine whether the benefits of an investment are greater than its cost or vice versa.
SWOT stands for strengths, weaknesses, opportunities, and threats. In addition, SWOT analysis helps in identifying business strengths and weaknesses, threats, and business opportunities.
PESTLE is an abbreviation for political, economic, socio-cultural, technological, legal, and environmental factors. This also helps analyze the external environment. Thus, these factors can also affect the success of a project.
8. Cause and Effect Diagram (CE)
A cause-effect diagram is useful in showing the cause-effect relationships among various factors. It clearly shows how one factor leads to another factor.
9. Scatter Diagram
A Scatter diagram is also known as a scatter chart. This chart type is useful to analyze the relationship between two variables or factors.
10. Line Graph
This graph type is useful to represent data in a time series format, showing trends in the data over time.
This graph type is useful in showing the frequency distribution of data. It is useful in analyzing the data.
12. Pie Chart
This chart type is useful in representing data in a circular diagram with numerical divisions. Also in showing the percentages of the whole.
13. Pareto Chart or 80-20 Rule
This chart type is useful in showing how a small number of causes are responsible for most problems or defects. Thereby saving time and resources. The Pareto chart also shows how the majority of the effects come from a minority of possible causes.
14. Control Charts
This chart type is useful in monitoring the performance of a process over time and detect abnormalities. This chart type is useful to determine whether the process is in control or out of control.
This graph type is useful in showing the frequency distribution of data. Thus, it is useful in analyzing the data.