Hybrid Project Management (HPM) and Extreme Project Management (xPM) represent distinct approaches to project management with varying implications for project cancellation.

Hybrid Project Management (HPM)

HPM combines elements of traditional and agile methodologies.

It offers flexibility and adaptability while maintaining a structured approach. If a project is canceled under HPM, the potential for waste is mitigated by:

• Phased delivery: HPM often involves breaking down the project into phases, allowing for earlier delivery of value and reducing potential losses if the project is terminated.
• Risk management: HPM emphasizes risk identification and mitigation, which can help identify potential issues early and reduce wasted effort.

Extreme Project Management (xPM)

xPM is highly iterative and adaptive, focusing on rapid delivery of minimum viable products. While this approach can be efficient, it might also lead to greater waste in case of project cancellation:

• Rapid iterations: The fast-paced nature of xPM can result in significant investments in short-term deliverables that might not be recoverable if the project is halted.
• Reduced documentation: xPM often prioritizes speed over documentation, which could make it challenging to assess the value of completed work if the project is canceled.

Conclusion:

While both HPM and xPM have their merits, HPM is generally more likely to minimize waste in case of project cancellation. Its phased approach and emphasis on risk management align better with the need to protect investments and recover value when projects are prematurely terminated.

However, the optimal approach depends on the specific project characteristics, organizational culture, and risk tolerance. A careful evaluation of these factors is essential to select the most suitable methodology