Comparison of PRINCE2 and PMBOK Methodologies

The assignment compares the PRINCE2 and PMBOK methodologies, two popular project management frameworks. It explores the seven processes in PRINCE2 and the ten knowledge areas in PMBOK, highlighting their differences and similarities. The document also discusses the application of these methods in project management, including the project life cycle and the role of the project manager.

Running head: ICT PROJECT MANAGEMENT
ICT project management
Name of the Student
Name of the University
Author Note

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Table of Contents
1. Project Methodology.......................................................................................................2
2. PMBOK VS PRINCE2....................................................................................................2
2.1. Similarities between PRINCE2 and PMBOK..........................................................4
2.2. Dissimilarities between PRINCE2 and PMBOK.....................................................5
3. PRINCE2 on PLC............................................................................................................6
References............................................................................................................................8

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1. Project Methodology
Project methodology is used for defining the different phase and processes associated
with a project from is initiation to completion. Leau et al. (2012), defined project methodology as
a strategic level plan that is used for controlling and managing a project. On the other hand,
Špundak, (2014), defined project management as a standard that defines the different process
procedure and techniques of project management. It is basically a plan for implementation of a
project or a product. According to Schwalbe, (2015), a project methodology deals with proper
application of knowledge and project management techniques so that the project can be
implemented according to the plan and can be delivered successfully. Furthermore, a proper
project methodology should be flexible enough to implement all the identified requirements in a
project. The project management methodology can be traditional such as waterfall or agile such
as XPM and SCRUM.
Project Methodology has a significant role in project management as it defines different
project process, which in turn helps the project managers in managing and controlling different
projects. Adoption of proper project methodology ensures faster completion of a project by
ensuring proper project control and eliminating the different risks associated with a project
(Kerzner & Kerzner, 2017).
2. PMBOK VS PRINCE2
Project Management Body of Knowledge (PMBOK) is a global standard that provides
guidelines for understanding the different characteristics of a project. PMBOK is very helpful for
understanding the nitty gritty techniques of project management and successful implementation

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of a project methodology for ensuring project success. There are 10 knowledge areas associated
with PMBOK.
Figure 1: Representing the different knowledge areas of PMBOK
(Source: Source: Matos & Lopes, 2013)
Proper understanding of these knowledge areas is essential for successful project
implementation. Apart from this, PMBOK is associated with five process groups such as,
initiating, planning, executing, controlling and closing.

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Figure 2: Representing the five processes of PMBOK
(Source: Matos & Lopes, 2013)
PRINCE2 on the other hand is a project management methodology that deals with
implementation of a project in a controlled environment. It is a widely used project management
methodology and is accepted worldwide. Even complex projects can be implemented with the
help of PRINCE2 methodology as it controls the project execution according to the project plan.
The project can be implemented in a controlled environment as the PRINCE2 methodology
divides the entire project into small manageable groups. The similarities and the differences
between PMBOK and PRINCE2 are discussed in the following section.
2.1. Similarities between PRINCE2 and PMBOK

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The similarities between PRINCE2 and PMBOK are as follows (Karaman & Kurt, 2015)-
1. PMBOK is a project management standard that ensures application of various project
management skills in successful implementation of a project. Similarly PRINCE2 methodology
deals with implementation of a project in a controlled environment. Therefore, it can be said that
both PMBOM and PRINCE2 are processes of ensuring project success.
2. The key knowledge areas associated with PMBOK helps in understanding and
identifying the different problems and challenges a project might face while implementation.
Therefore, PMBOK helps in proper risk management as well. PRINCE2 methodology
guarantees implementation of a particular project in a controlled environment, thus mitigating
the different risks associated with a project.
3. Both PMBOK and PRINCE2 can be applied to any type of project associated with any
industry. This is possible as these two methods are widely recognized and understood.
4. Both PMBOK and PRINCE2 ensure that effective communication tools are present in
the working environment of a project. Presence of an active communication channel ensures
proper information flow during the project execution. This is a significant need for successful
project implementation as proper information flow and effective communication ensure that the
project is being implemented according to the plan.
2.2. Dissimilarities between PRINCE2 and PMBOK
The differences between PRINCE2 and PMBOK are as follows-

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1. PRINCE2 is a project management methodology while PMBOK is a standard area of
knowledge that gives a clear idea of the different processes and techniques of project
management (Tomanek & Juricek, 2015).
2. PRINCE2 enables implementation of a project in a controlled environment quite
contrast to PMBOK where a project cannot be controlled while its execution.
3. PMBOK is comparatively complex to understand and implement, while PRINCE2 is
easier to understand and implement and is therefore adopted for a number of projects worldwide.
4. There are 10 knowledge areas in PMBOK while there are seven processes in PRINCE2
3. PRINCE2 on PLC
PLC or project management life cycle gives an overview of a project from its initiation
phase to completion. A project is broadly classified into four major phases in a project life cycle.
The phases are initiation, planning, execution and closure. PRINCE2 methodology divides the
entire project into seven major processes which are project starting, project initiation, project
direction, project control, managing project delivery, managing the stage boundaries and closing
the project. Project life cycle in PRINCE2 deals with successful implementation of all these
stages in a controlled environment. Proper project supervision is ensured while implementing the
project which is one of the major advantages of PRINCE2 approach. PRINCE2 methodology
therefore relates completely to the project life cycle in initiation, planning, managing, executing
and controlling a project. In PRINCE2 methodology, the project manager takes the responsibility
of organizing and closing a project (Saad et al., 2014). The project manager takes necessary
decisions related to a project in PRINCE2 project methodology. Therefore, it can be concluded

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that PRINCE2 is a methodology that can be easily implemented in order to ensure project
success.

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References
Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince 2
versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering
Research, 4(5), 657-664.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Leau, Y. B., Loo, W. K., Tham, W. Y., & Tan, S. F. (2012). Software development life cycle
AGILE vs traditional approaches. In International Conference on Information and
Network Technology (Vol. 37, No. 1, pp. 162-167).
Matos, S., & Lopes, E. (2013). Prince2 or PMBOK–a question of choice. Procedia
Technology, 9, 787-794.
Saad, S., Ibrahim, A., Asma, O., Khan, M. S., & Akhter, J. (2014). PRINCE2 MEthodology: AN
INNovAtIvE WAy foR IMPRovINg PERfoRMANCE of MAlAysIAN AutoMotIvE
INdustRy. The Journal of Technology Management and Technopreneurship
(JTMT), 1(1).
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Špundak, M. (2014). Mixed agile/traditional project management methodology–reality or
illusion?. Procedia-Social and Behavioral Sciences, 119, 939-948.
Tomanek, M., & Juricek, J. (2015). Project risk management model based on PRINCE2 and
SCRUM frameworks. arXiv preprint arXiv:1502.03595.