A project manager is assessing the project needs and complexity to recommend the most suitable project methodology. The project has well-defined requirements, a fixed budget, and a tight deadline. The deliverables are not expected to change significantly throughout the project. Which project methodology is BEST suited for this project?
The predictive (or waterfall) methodology is the best approach for this project because it is characterized by well-defined requirements, a fixed budget, and a tight deadline. In predictive projects, the scope, schedule, and cost are determined in the early phases and are not expected to change significantly. This methodology follows a sequential process, with each phase being completed before moving on to the next. Agile methodologies, on the other hand, are more suitable for projects with evolving requirements and a higher degree of uncertainty. Hybrid approaches combine elements of both predictive and agile methodologies, making them suitable for projects that have a mix of well-defined and evolving requirements.
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