Comparing PRINCE2 and Agile Project Management Methodologies

This assessment delves into the realm of project management methodologies, specifically exploring PRINCE2 and Agile. It provides a comprehensive comparison of these two widely adopted approaches, highlighting their key features, strengths, and weaknesses. The analysis examines how each methodology aligns with the project life cycle, emphasizing their respective advantages and disadvantages in different project contexts. By understanding the nuances of PRINCE2 and Agile, project managers can make informed decisions about which methodology best suits their specific project needs.

IT TASK

Table of Contents
Introduction................................................................................................................................3
Task............................................................................................................................................4
Conclusion..................................................................................................................................7
References..................................................................................................................................8

Introduction
In this assessment, the project management methodologies will be understood in brief and
different methodologies will be compared and their relation with the project life cycle will be
analysed.

Task
The methodology is the prototype, which manager of the project utilize for the outline,
planning, execution and accomplishment of the project goals. There are distinctive
methodologies of project management from which numerous projects get benefits. Keeping
in mind the end goal to accomplish objectives and arranged outcomes in an appropriate
budget and time, a project is utilized by the manager. Despite which trade or field, there are
combinations of techniques to help the project manager at each phase of the project from the
beginning to the execution of the deployment. Thus, there are distinctive methodologies for
project management that take into account the requirements of various projects traversed over
various business areas (Luxembourg, 2016).
The PMM empowers the conveyance association to handle these projects systematically,
extensively, efficiently, and in an incorporated way for risk acceptance. Among these, it gives
benefits at the operational, strategic and tactical levels.
PRINCE2
Prince2 is an accepted procedure based strategy for viable management of the project.
Utilized generally by the Government of UK, PRINCE2 additionally perceived and utilized
as a part of the private area widely in the UK and globally (Tomanek, & Juricek, 2015). The
PRINCE2 methodology is in the domain of public and proposes non-proprietorial greatest
practice for project management guidance.
Key highlights of PRINCE2:
 Chief Focus is on business avocation.
 Defined structure of organization for the team of project management.
 Focus on the project task division in more controllable and manageable levels.
 Product-based arranging methodology (Vaníčková, 2017).
 Flexibility which could be connected at the level suitable for the project.
Agile PMM
Agile PMM is an iterative methodology for software developing project management having
chief attention on continuous and constant release and incorporates feedback from client's at

different iteration’s and levels. Agile PMM can be classified into two structures: kanban and
Scrum (Kerzner, 2017).
Table 1 Prince2 Vs. Agile
PRINCE2 Agile
In this methodology the budget and time are
variable.
In agile methodology budget and time are
fixed.
Here in this methodology entire features and
characteristics are promised.
In this methodology, the features and
characteristics are prioritised.
Prince2 has control and command structure
(Buehring, 2018).
Agile methodology has collaborative
working structure.
The project manager is responsible for detail
planning and delegates the work.
Teams are self-directed and the barriers are
removed by the project manager.
Here the solution is well-defined earlier to
the project.
In agile methodology, the solution is
developed.
It is a useful methodology for the clients. It is a useful methodology for the suppliers
(Baker, 2017).
Predictive methodology Adaptive methodology
There are some similarities between the two methodologies of project management that
are;
 Agile PMM and Prince2 both treat the planning horizon similarly.
 Both agile PMM and Prince2 provide several templates and tools for project
management and eliminated the reinvention need.
 Both Prince2 and Agile PMM aim at handling several project issues that are;
 Change acceleration
 Unique and modern deliverables (Andreski, 2013).
 Outlined schedules.
 Budget and resource limitation

Project lifecycle based on Prince2
PLC in view of the PRINCE2 procedure empowers to streamline, design, create and execute
to run into the task quality necessities and due dates. The PRINCE2 PLC does not begin with
unique need, generating solutions these are reflected as contributions to the PLC, maybe as
independent tasks in their particular right (Maxwideman, 2017). For instance, PRINCE2
portrays a PLC in five stages: Initiation, Operation, Implementation, Feasibility, and
Termination in any case, of these, exclusive Implementation is secured by PRINCE2
methodology. PRINCE2 expect that the task is kept running inside the setting of an
agreement and does exclude this action inside the technique themselves. It profits the
business as;
 PRINCE2 is good with entire management of project confirmations as it gives the
specialized arrangement of the system for the project.
 PRINCE 2 is adaptable to utilize (ILX Marketing Team, 2016).
 PRINCE 2 is perceived broadly in this manner simple to execute.
Project lifecycle based on agile methodology
The common goal of agile methodology is to acquire the modification and also deploy the
complete software quickly that could practically be estimated. Every system has small
difference in a manner it describes the software improvement duration. Also, even with the
element that the goals are equivalent; each team technique may depend upon the specific task
or project (Smartsheet, 2017).
Agile project life cycle is as follows
 Concept- Plans for the project are organized and envisioned.
 Inception - individuals in team are recognized, subsidizing is fixed up, and
introductory conditions and requirements are examined
 Iteration - The advancement group endeavours to transfer operational programming
in light of prominence prerequisites and contribution
 Release - Quality testing, documentation advancement, external and internal training
and final deliverables of each iteration into the construction.
 Production – product on-going support.
 Closure – completion of the project.

Conclusion
In this assessment, I have understood what the methodology is and how it helps in project
management. Methodologies chosen are Agile and prince2 and a comparison is done among
these two methodologies. At last, their relation with the project life cycle is analysed and
identified.

References
Andreski, L. (2013). Agile, PRINCE2 and PMBOK. Retrieved from
https://andreskiprojectmanagement.wordpress.com/2012/05/17/agile-prince2-and-pmbok/
Baker, D. (2017). PRINCE2 versus Agile. Retrieved from
https://www.theknowledgeacademy.com/blog/prince2-vs-agile/
Buehring, S. (2018). Differences between PRINCE2 and agile. Retrieved from
https://www.knowledgetrain.co.uk/resources/qualifications/prince2-agile-comparison
ILX Marketing Team. (2016). 5 Benefits of PRINCE2. Retrieved from
https://www.prince2.com/blog/5-benefits-of-prince2/#main-menu
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Maxwideman. (2017). Expert Project Management - Comparing PRINCE2 with PMBoK.
Retrieved from http://www.maxwideman.com/papers/comparing/lifecycle.htm
Smartsheet. (2017). Understanding the Agile Software Development Lifecycle and Process
Workflow. Retrieved from https://www.smartsheet.com/understanding-agile-software-
development-lifecycle-and-process-workflow#main.
Tomanek, M., & Juricek, J. (2015). Project risk management model based on PRINCE2 and
SCRUM frameworks. arXiv preprint arXiv:1502.03595.
Vaníčková, R. (2017). Application of PRINCE2 Project Management Methodology. Studia
Commercialia Bratislavensia, 10(38), 227-238.