Understanding Project Methodologies

This assignment delves into the world of project methodologies. It defines what a methodology is, its crucial role in project management, and outlines different types like PMBOK and PRINCE2. The document further examines how these methodologies are applied throughout various stages of the project lifecycle.

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Project Methodologies
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Project methodologies
Contents
Definition:.............................................................................................................................................2
Role of project methodology:................................................................................................................2
Types of methodologies:.......................................................................................................................2
Project life cycle and chosen methodologies:........................................................................................4
Conclusion:............................................................................................................................................5
References:............................................................................................................................................6
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Project methodologies
Definition:
A project methodology is the collection of practices, procedures, techniques, and rules used
by the experts while working on the discipline. “Project manager uses methodologies for
providing structure and the framework to the delivered projects by using principles,
framework, themes, standards, and processes” (Obrutsky, 2016).
Role of project methodology:
The objective of the project methodology is to design a development process which is
reasonable, flexible, comprehensive, and accessible. “The project management methodology
works as an asset for the project manager for evaluating the project goal and deliverables”
(Karaman & Kurt, 2015). The methodology is the medium which provides a common
platform for communication and initialization of the project. It helps in encouraging the
planning process for starting the work. The projects can be efficiently managed by using pre-
determined metrics and reporting tools. The hierarchical structure of project management is
shown in the figure below:
Types of methodologies:
Traditional approach: The project management process includes a series of steps which
includes initiation, planning, execution, controlling, testing and validation, and
implementation. It is also known as waterfall methodology.
PMBOK guide: “Project management body of knowledge serves as a methodological
approach for implementation of different steps included in the flow of process model such as
planning, execution, control, and termination of the project” (Fitsilis, 2014).
Prince2: Prince2 stands for project in controlled environment which is used for process
driven methods and the approaches applied in the private sector.
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Project methodologies
Agile methodology: It is the methodology which follows flexibility, building process, and
iterative design for managing the project. The pre-planning process is included form
managing the changing requirement of the client.
SDLC: The SDLC is the process methodology which works on improving the quality,
delivery of the product, and the requirements of the product. The project is managed by
requirements identification, balancing needs of the stakeholders, expectations, and the risks
associated with the stakeholders.
PMBOK and PRINCE2 are the preferred methodologies by project managers. The two
methodologies are similar to each other in respect of their identification of the requirement,
participation of the customers, development of team relationship, and integration of the
stakeholder. “The focus is given on the quality management and risk identification in both the
methodologies” (Ghosh, 2012).
The table shows the difference between the two methodologies in brief:
Particulars Prince2 PMBOK
Process Starting of the project
Initiating of the project
Direction given to the project
Controlling the phases
Management of the product
delivery
Management of the state
boundary
Closure of the project
Initiating
Planning
Initiating
Executing, controlling and
monitoring
Executing and planning
Planning and closing
Closing
Principles Principles followed No principles followed
Comprehensive or practical It is practical in nature It is comprehensive in nature
Focus on Focus given on business case Focus given on customers
Factors Partly integration with
environmental and
organizational factors
“Strongly integration with
environmental and
organizational factors”
(Vieira, 2014)
Case The business case should be Business case should be
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Project methodologies
reviewed periodically continuously focused
Organization Active participation of
stakeholder and human
resource
Financial, human resource,
quality, and other
management involves
Quality No involvement of quality
management
Involvement of quality
management
Plan Initiation of planning process Scope, cost, and time
management
Risk Identification of the risks Management of the risks
Management of integration Partially focused Strongly focused
Communication Partly focused Strongly focused
Procurement Partly focused Strongly focused
Stakeholder Partly participation Active participation
Project life cycle and chosen methodologies:
There are seven processes involved in the prince2 methodology for completing the project
life cycle. The project stat up involves the assemblage of the project team for planning of
project initiation. The initiating of the project involves focusing on the business case and the
risks associated with it. The series of authorization involves in the directing the closure of the
project. The stages are controlled by managing issues. The delivery and maintenance of the
product focuses on the execution of the working package.
The PMBOK works on five processes for completing the project life cycle which are named
as initiating, planning, executing, monitoring, and controlling and closing. The knowledge
areas which are included in project life cycle by using PMBOK are integration, scope,
quality, time, cost, human resource, risks, procurement, and stakeholder. The following figure
shows the relationship of PRINCE2 and PMBOK with Project life cycle.
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Project methodologies
Conclusion:
The PMBOK is strongly preferred by the project manager for managing the project. The
PMBOK serve as a guide for planning, organizing, staffing, and other functional areas of
project management.
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Project methodologies
References:
Fitsilis, P. (2014). Comparing PMBOK and agile project management software development
process. Retrieved from
http://www.academia.edu/2953419/Comparing_PMBOK_and_Agile_Project_Manage
ment_software_development_processes
Ghosh, S. (2012). Enhance PMBOK by comparing it with PRINCE2 and P2M standards.
Retrieved from http://pmkb.com.br/uploads/2013/08/95598999-Comparison-of-PM-
Frameworks.pdf
Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: Prince
2 versus PMBOK for its project. International journal of applied science and
engineering research. Retrieved from
http://www.ijaser.com/articles/vol4issue42015/vol4issue4/JASER4059.pdf
Obrutsky, S. (2016). Comparison and contrast of project management methodologies.
Retrieved from
https://www.researchgate.net/publication/305969672_Comparison_and_contrast_of_p
roject_management_methodologies_PMBOK_and_SCRUM
Vieira, D. (2014). Integrating PMBOK standards, lean and agile methods in project
management activities. Retrieved from
http://research.ijcaonline.org/volume88/number4/pxc3893680.pdf
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