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PMBOK and PRINCE2 Methodologies

   

Added on  2020-03-04

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The application of various types of skills and technologies that are involved for theproject activities and also would help in meeting the requirement that are set at the start of theproject (Kerzner, 2013). The methods that are involved in the management of the project andaides in the procedures are known as the project management methodologies (Joslin & Muller,2015). It is the systematic, theoretical and the logical methods that are applied in the field ofstudy for the analysis of the methods that are applied for the knowledge on the project and also itis used for the guidance to the procedures of the project. The project management methodologies play a very vital role for the assistance in theproject management techniques. There are various types of project methodologies that are usedfor the project management techniques implemented by the project managers. Themethodologies are applied according to the requirement of the project and also they vary inaccordance with the situation. The various types of methodologies that are applied for the projectmanagement techniques are:PMBOKPRINCE 2SDLCWaterfallAgileThe methodologies selected for the discussion in this paper are PMBOK and the PRINCE2 methodologies. The PMBOK is the Project Management Book of Knowledge. This is a termwhich is exclusive and describes the knowledge that is present within the profession of project
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management. This method involves the use of the traditional procedures that are proven for theproject management. They make use of all type of sources that involves both the published andthe unpublished materials. In addition to this the PRINCE 2 methodology is also described in thispaper. PRINCE 2 is the project in the controlled environment. It is a structured projectmanagement technique that is used for the certification and the accreditation of the differentorganization that are set to perform the project management techniques. The method involves thedivision of the project into a number of sub projects and this sub procedure puts the mainemphasis on the controllable steps for the projects.The PMBOK and the PRINCE 2 methodologies have various types of advantages anddisadvantages associated with them (Snyder, 2014). For the comparison of both the systems atable is provided below.PMBOKPRINCE 2AdvantagesThe method is very useful for the goalrelated projects. This methodologyprovides the assistance for defining thegoal for the project (Deshpandhe,Beecham & Richardson, 2013).This method also helps in the faulttolerance of the project. The faulttolerance is a very important part forthe project.This method also helps in the heavyprojects. They help in dividing theprojects into further sub divisions.Standardization is the biggest benefit ofthe method. The method also saves a huge amountof money for the project.The method is also for designing theRoad Map of the project (Jamali &Oveisi, 2016).The methodology also helps in thechange control procedures for theprojects.The method also helps in the projectbased planning methods.They help in defining the roles and theresponsibilities of the personnelinvolved in the project.DisadvantagesThe methodologies are not suitable forthe projects that are smaller in size.This method is not accepted by variousproject managers due the inefficiencyin the method and the method is veryThese methodologies cannot be used inthe smaller projects and also are not theaccepted readily by the projectmanagers of the smaller projects.The methodologies also use the
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