Project Management BM522 Project Management Student name ID: 3 Key methodologies and their key benefits

BM522
Project Management
Student name
ID:
Table of Contents

Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
Key methodologies and their key benefits...................................................................................3
Project methodologies:.............................................................................................................3
Scrum methodology:................................................................................................................3
Critical Chain Project Management.........................................................................................4
Waterfall methodology.............................................................................................................5
Task 2...............................................................................................................................................6
The Network Diagram:................................................................................................................6
Completion date.......................................................................................................................7
EST EFT LST LFT...................................................................................................................7
Activities of Critical Path.........................................................................................................8
GANTT chart.........................................................................................................................10
Task 3............................................................................................................................................11
Stakeholder Analysis..................................................................................................................11
Work Breakdown Structure....................................................................................................12
Task 4.............................................................................................................................................13
Analysis of risk:.........................................................................................................................13
Conclusion.....................................................................................................................................14
Reference.......................................................................................................................................15

Introduction
The goal of this research is to assess and explain the most influential aspects, as well as project
management performance criteria. These project management skills will be used for the module's
assigned project to assess this assignment. Scrum is a method of project management for agile
projects. The critical chain project management framework is similar to the critical route
strategy, but it goes further, making it one of the most complete solutions [ CITATION Wel19 \l
1033 ]. A network diagram indicates a graphical statement of a project that form with a series
of connected arrows and boxes that exhibit how the project's operations are interconnected. To
celebrate achievements, the plan calls for a new music festival to be held this fall at the local
Town Hall. The success of project management was assessed using key methods, a network
diagram, and a work breakdown structure, as well as risk analysis and project quality evaluation
[ CITATION LeS18 \l 1033 ].

Task 1
Key methodologies and their key benefits
Project methodologies: According to [ CITATION May18 \l 1033 ] the project
management technique provides a detailed project roadmap that details all of the steps required
to successfully finish a project. These project approaches or strategies define the governance
structure, process standards, test activities, processes, and deliverables. A methodology is a
collection of rules that project teams must follow when they begin and manage projects.
Scrum methodology: It's more of a plan for project management than a full-fledged project
management approach. Scrum divides work into short "sprints" that can last anywhere from one
to two weeks.
Figure: Scrum methodology [ CITATION May18 \l 1033 ]
Advantages:
1. Scrum help a team to finish a project deliverables more swiftly and effectively.
2. Scrum assure more effective use of time frame and resources.
3. The Projects are separated into smaller sprints.
4. It's perfect for tasks that need urgent attention.