Classifying projects can help improve the likelihood of project success, assuming you're doing more than just classifying projects. Look at your projects - are chances of success lesser or greater based on choosing a specific framework or methodology? How do you know which will be the most effective approach? In some scenarios, it can be pretty obvious. For example, Scrum is not the first thing that comes to mind for major construction projects. But it's not always that simple. Understanding the following can be helpful if you're in a position that you need to consider the best approach for the work to be done:
-...the nature of the work to be done
-...the company risk profile
-...time and urgency constraints, and other non-negotiables
-...team capabilities and ways of working
-...organizational context
-...the stakeholder landscape
-...the delivery & release environment
-...the value realization model
-...organizational cultural alignment
These are all variables that can shape the effectiveness of a chosen framework or methodology, to varying degrees, most of which cannot be easily changed by a project manager. If you can understand these variables and whether/how they impact your projects, and are in a position to choose the particular flavor of agile, predictive, or hybrid your team will use for the project, you can increase the likelihood of success. I'll elaborate on these, and why they matter, in a separate post.
One thing you can control, as a project manager, is your understanding of the various ways of working so that, when you need to run a project in a way that is new to your employer, you can. You don't need to go get certified in every framework and methodology, but understanding when and how to apply them will help you be a more effective project manager.