Business Finance - Management QSO 435 Homeworks ( week 6)

Kimberly Hart

After researching various project management methodologies, it is clear that each approach has

its strengths and weaknesses. In the case of Valpak's transformation, it seems that an agile

approach was most suitable due to the company's need to respond quickly to changes in the

market and deliver new features and services more efficiently. However, incorporating elements

from other approaches could be beneficial. (Bergmann, & Karwowski,2019). For example,

incorporating the vital question principle from traditional project management at the beginning

of an agile project could ensure that the project team clearly understands the project's goals and

requirements. Additionally, incorporating the situation analysis and strategy development

principles from adaptive project management could ensure that the project team continually

reassesses the project's direction and adapts to any changes.

Regarding the triple constraint, the principle is heavily emphasized in traditional project

management, but it can also be applied to agile projects. By setting a clear budget, time, and

scope constraints at the beginning of an agile project, the project team can ensure that the project

stays on track and achieves its goals. The different project management approaches could also be

combined in various ways (Bergmann & Karwowski,2019). For example, the lean approach's

emphasis on efficiency could be incorporated into an agile project by continuously assessing and

improving the project team's processes. Alternatively, the scrum approach's small team structure

could be incorporated into a traditional project management approach to increase flexibility and

adaptability. However, there are also potential drawbacks to combining elements from different

project management approaches. For example, incorporating too many different principles could

lead to confusion and a lack of cohesion within the project team.

In conclusion, while an agile approach may be most suitable for Valpak's transformation,

incorporating elements from other project management approaches could enhance the project's

success. It is crucial to evaluate each approach's suitability and potential drawbacks before

incorporating its principles and to ensure that the project team is aligned and working cohesively

towards its goals.

Reference

Bergmann, T., & Karwowski, W. (2019). Agile Project Management and Project Success:

A literature review. Advances in Intelligent Systems and Computing, 405–414.

https://doi.org/10.1007/978-3-319-94709-9_39

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Antonio Martins

Hello Everyone,

The case study I selected for my project is Valpak. Valpak's project requirements are to develop and support technology for a diverse range of stakeholders and audiences, including consumers who want to save money by using coupons, Valpak franchisees who need systems to run their business and sales operations, retailers who want to track and maximize their returns on investment, and traditional internal corporate stakeholders who need to run core business

operations (Cobb, 2015). Based on these requirements for multiple franchises with several software specifications, in my opinion, Agile is the most suitable approach for this project. Within Agile, the Scrum, Kanban frameworks can successfully assist in achieving the end goal for the project.

The positive side of utilizing both approaches is adaptability. The Scrum and Kanban framework hybrid approach enables the organization to achieve complete customer satisfaction. Because they are both driven by change. Valpak may use these ways to be adaptable and plan continuously. Valpak may have continuous implementation of client input with short iterations, allowing them to focus on the value of the business. In Scrum a sprint has a fixed period, and the work is broken into manageable increments, with no one increment being so enormous that it cannot be completed in a single sprint. Sprints are typically 2-4 weeks long. This can allow Valpak to simultaneously work on several tasks. Kanban is also appropriate for tasks that demand frequent modifications; it is most effective in software development. “This approach is used by Agile teams to better visualize workflows and project progress while decreasing the likelihood of bottlenecks” (Project Management Methodologies, n.d.). Some of the cons or disadvantages of these approaches include that adapting these frameworks with big teams may be difficult. There is a vast difference between the Agile and traditional project management methodology. Adapting new ways of project management can be quite challenging. It also involves the presence of experienced team members.

References Cobb, C. G. (2015). The Project Manager's Guide to Mastering Agile: Principles and Practices for an Adaptive Approach. Wiley Professional Development (P&T). Retrieved April 2, 2023, from https://mbsdirect.vitalsource.com/books/9781118991763

Project Management Methodologies. Online Tutorials Library. (n.d.). Retrieved April 4, 2023, from