Many startups fail due to the lack of appropriate project management methodology. Inability to manage scaled operations in faced-paced businesses is a direct outcome of inadequate planning and administration, and poor management of work and operations. Agile Project management is known for creating a process that is responsive to change and produces products in systematic iterations. By applying agile methodology for project management, startups can scale their operations while making use of collaborative methods and flexibility.
Agile Management is a methodology of using sprints i.e. short development cycles that allow continuous improvement in the development process. Agile project management encompasses approaches such as adaptive planning, self-organization, and cross-collaboration with functional iterations and short sprints.
Benefits of Agile Project Management for Fast-paced Startups
Businesses can’t survive without quickly adapting to changes and startups are inherently placed for it. The igile approach is ideal for businesses where requirements are uncertain or may change during the course of the project. Startups can scale their operations and manage projects efficiently through an agile approach to project management. The process is known to be beneficial for startups in a number of ways.
1. Product Launch
Agile method shortens the development phase while focusing on improvement. It helps in developing functional software as early as possible and increases the level of improvement by focusing on each iteration to be reviewed critically. It facilitated rapid product release and helps startups to release their MVP (minimum viable product) out on the market. Lessons learned while launching a preliminary product can later be applied for improved iterations.
2. Product Improvement
Agile project management allows you to build the perfect first product by providing you with an empirical way to add value to it by continuously improving it and the time it will take to make those improvements. It also helps in identifying the need to build next-level products and factoring costs against potential benefits. The short cycles or sprints of agile project management allow you to test new ideas and determine the best course for your new product.
3. Quick Delivery
Startups require more effort in their smaller projects than the efforts by big businesses for their larger projects. In agile project management teams divide their work into sprints that each member can quickly work on. The resultantly reduced development time helps in gathering continuous and quick feedback from the clients leading to timely delivery of the improved product.
4. Informed Business Decisions
Startups need to make a number of important business decisions without any prior knowledge of how their decisions might turn out. Startups don’t usually have the resources to spend ample time evaluating those decisions before acting on them. Short production cycles of agile project management allow ideas to be tested and implemented swiftly. Data resulting from ideas testing and implementation along with the gathered feedback helps in making further informed decisions.
5. Communication and Collaboration
Communication is one of the core benefits of agile project management. It facilitates meetings for a specific purpose and reduces the need for extra meetings. It improves working relations and makes team members feel empowered and valued for their skills. Agile technology brings the entire team together as in this methodology operations are not performed in isolation. As sprint required contribution from all team members, resulting teamwork builds trust and reliability in the team. As a result, each member of the team has complete information on the status of the project and feels motivated. Agile teams are self-organized and take full responsibility for their results. Agile project management also has some tools in place that inspire teams to look for ways of improvement.
6. Competitive Edge
Adopting agile methodology enables startups businesses to provide their customers with a competitive edge. Any improvements or new features from the competitors can be evaluated and included in every sprint. Continuous improvements and updates will result in unmatchable products with a huge competitive advantage and better offering.
7. Saves Resources
Agile methodology helps minimize the odds of wasteful practices making the development process short and releasing the product in a shorter time. It saves time and money spends on making futile product enhancements by putting emphasis on customers’ feedback and building the product in sprints or small iterations.
Startups consider agile project management as a foolproof plan rather than considering it a remedy to cure their resource limitation Although Agile Technology is known for efficiently managing projects, it is not a wholesome solution for all kinds of problems. Inability to regularly administer agile project management can turn out to be a challenge for startups which necessitates the need to take professional help to properly use the methodology.
If you’re planning to develop a product or manage projects by using the Agile Project Management approach, get in touch with our professionals at www.khired.com