Water-Scrum-Fall approach for finance institutions with Zoho Projects Plus

Finance is a highly regulated sector with strict rules and compliance requirements. Handling sensitive client data and complex transactions like multi-currency deals requires elaborate workflows and precise management. Implementing project management software to plan, regulate, and oversee the overall functioning of finance projects is crucial to maintain integrity and security. Modern finance institutions are on the lookout for easy-to-adapt and workable project management models like the ‘Water-Scrum-Fall’ approach. Let’s explore more about it in this article.

 

Business Scenario

 

Zylker, a finance institution, assists multiple clients with accounting, tax filing, capital raising, and maximizing profitability. Every new project they take up is managed with measured steps, detailed documentation, and predefined processes with strict deadlines. They are currently using Zoho Projects’ waterfall project management methods to plan, execute, and manage their projects.

 

The company is developing a finance software to digitize and automate their recurring processes. To achieve optimal results, the team is looking to employ agile project management methods for iterative development and expedited delivery. The team needs to list down the requirements as backlogs, release workable software in sprints, easily visualize to-do tasks in Kanban boards, collaborate effectively, and keep everyone informed on the updates.

 

Since Zylker is looking to use both waterfall and agile project management methods in specific phases, the ‘Water-Scrum-Fall’ approach suits best for them.

 

What’s the ‘Water-Scrum-Fall’ approach

 

Water-Scrum-Fall is a hybrid project management approach that combines the expertise of waterfall and agile project management methods in specific phases of the project. In this approach, the project starts with the waterfall approach supporting detailed planning and organization, followed by the scrum approach for faster and iterative development, and finishes with the waterfall approach for the deployment and maintenance phase.

Organizations looking to adapt agile right within the waterfall framework are recommended to use the ‘Water-Scrum-Fall’ approach.

 

 

Water-Scrum-Fall in Zoho Projects Plus

 

Zoho Projects Plus is a hybrid project management software solution that helps organizations embrace diverse project management techniques within a unified platform. It hosts:

• Projects, a comprehensive project management platform, that can easily carry out waterfall projects
  
• Sprints, an agile project management software, to plan and release projects in timeboxed sprints
  
• Analytics, a self-service business intelligence software, that helps gain detailed insights of the ongoing projects, irrespective of their management style
  
• WorkDrive, a centralized document repository, to store, access, and collaborate on project documents
  

 

With Zoho Projects Plus, Zylker can continue using Projects for their existing projects and ensure business continuity, while trying out Sprints to adapt agile work cycles. For instance, the new finance software can be entirely developed and managed using Sprints, while the initial planning, documentation, and standardization can be set using Projects. Teams can alternate between both tools, using the Water-Scrum-Fall approach to manage their work, and managers can get a combined analysis of the projects with hybrid dashboards in Analytics.

 

Ready to streamline your finance projects with our hybrid project management? Sign up for Zoho Projects Plus and try it out today! You can also visit our KB for detailed insights. If you have any questions or would like a walk-through, please email us at support@zohoprojectsplus.com

 

• Topic Participants

• Saranya Baskaran Lakshmi

  

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