What is Traditional Project Management Approach

The traditional methods for managing projects, i.e., the methods based on the Waterfall model, consider a project as successful if the initial commitments are respected at the end of the project. This means that the value provided to the stakeholders is evaluated according to the fulfilment of a contract originally signed. In this chapter, the author discusses the notion of value and value co-creation in the scope of the project management with a focus on the computing industry. Indeed, a promising theory for managing software implementation projects, called the Agile theory, seems to comply with some principles of the value co-creation. The Agile theory is first compared to the traditional project management frameworks and, then, to the principles of the value co-creation. Lastly, a review of the most used agile methods is proposed. This helps the reader to choose an agile method which is the most compliant with the value co-creation principles.