Key Features of Hybrid Project Management Methodologies:

1) Combination of Predictive and Adaptive Approaches:

• Traditional (Waterfall) focuses on a structured, sequential approach with clearly defined stages like initiation, planning, execution, monitoring, and closing.
• Agile focuses on flexibility, iterative development, and continuous feedback.
• Hybrid methodologies combine both, using Waterfall’s structured planning for certain parts of the project, and Agile’s iterative cycles for others.

2) Flexibility and Customization:

• Teams can decide which phases or components benefit from a traditional or Agile approach. For example, planning and documentation may follow Waterfall, while development phases may use Agile's iterative processes.

3) Phased Deliverables:

• Like in Waterfall, key project milestones or deliverables are established, but iterative Agile methods are applied to achieve these deliverables.

4) Stakeholder Collaboration:

• Agile’s focus on stakeholder engagement and continuous feedback is integrated into the process, ensuring the end product is aligned with changing stakeholder needs.

5) Balancing Control and Adaptability:

• The project may follow a clear roadmap, but Agile techniques allow teams to adjust the plan as they gather feedback, adapt to market changes, or address project uncertainties.

When to Use Hybrid Methodologies:

Hybrid methodologies are particularly useful in situations where:

• The project involves multiple phases with varying levels of complexity and uncertainty.
• Some components of the project benefit from detailed, upfront planning (traditional), while others require flexibility and regular adjustments (Agile).
• The organization needs the rigor of traditional project management but also values the iterative, customer-focused approach of Agile.

It’s a middle-ground solution that balances planning and flexibility to optimize project outcomes.