Is the Hybrid Project Management (HPM) Framework or the Extreme Project Management Framework (xPM) more likely to waste less of the clients money and the teams time if the project were cancelled prior to completion?
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:
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:
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