Project Management Methodologies: Advantages and Disadvantages

This article discusses the advantages and disadvantages of different project management methodologies, including Waterfall and Agile. It explores how these methodologies can impact project planning and execution, and provides insights into their suitability for different types of projects.

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Table of Contents
INTRODUCTION.................................................................................................................... 3
Task 1.................................................................................................................................... 3
Task 2.................................................................................................................................... 5
Task 3.................................................................................................................................... 8
Task4..................................................................................................................................... 8
References........................................................................................................................... 11
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INTRODUCTION
Project management is identified with arranging just as sorting out assets of business firm to
move a particular errand, occasion just as obligation towards culmination. In addition, it
includes one-time venture or progressing action and furthermore oversees assets which
include account, innovation, staff individuals, protected innovation and some more. The
critical path is longest path in which particular business finish a project or it is the
maximum time duration taken by project manager to complete particular project. As
there are some risks called slack attached with every project, which increases the
total duration of project.
Task 1
Project Management Methodologies: Project management tools are specialized for
application of methodologies. It shows different ways by which project can be
estimated; the common point with all methodologies are duration, list of activities or
task and cost associated with each business activities.
Some of the main Project Management Methodologies with their advantages and
disadvantages are discussed below:
1. Waterfall: It is the oldest tool using sequential methodology and only
focused on requirements. The waterfall methodology is categorised into
discrete stages; start with gathering and evaluating desired data and than
creating solution and finally implementing this solution to fix issues. It
moreover looks like ladder, where each step takes towards destination,
Same with this model; each level takes towards solution of problem. Best fit
for short, simple and clear projects having fixed requirements (Hopkin,
2018).
Advantages:
 Simple model: It is simpler structural method which can be understood
by non project management background easily.
 Structure: The transparent relation between stages gives advantage to
this model to organize and divide work easily. Every stage need to be
perfected because going back option is not available.
 Documentation: The requirements make it compulsory to full focus
and gather appropriate data and documentation. It supports in
movement of new resources within organization.
Disadvantages:
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 Highly expose to risk: The inflexibility feature of this methodology
make it risky model because any identification of error in mid can waste
all planning efforts and required to start from first step.
 Heavy front: Whole project depends on what requirements are
chosen; any mistake or error at this prior stage could fail entire project
and strategies.
2. Agile: This approach is alternate to waterfall approach and following same
concept of ladder. As like its name, it focuses more on methodologies which
could be adopted quickly. No In depth information is required by such model
Or maybe, the basic difference from waterfall model is; it is more responsive
towards change and can do amendment in plan once formed (Glendon,
Clarke and McKenna, 2016).
Advantages:
 Easily adoptable and efficient: There are no rigid step in this method
so it gives applicants sources more opportunity to be identified and
properly utilized for further examination. This makes it especially
appropriate for inventive tasks.
 Lower hazard: With this method, company gets ideal input from its
associates and make necessary alteration in favourable
consideration. This initially decreases the risk of undertaking falling
performance since the partners are included at each progression.
Disadvantages:
 No fixed arrangement: The main disadvantage with this method is; it
faces certain issues in implementation of strategy because there is no
fixed arrangement of resources available with project manager to
replace existing problems.
 Coordinated effort substantial: The non attendance of a decided plan;
it suggests each and every included office - including accomplices
and supporters - should work close pass on results. The analysis
jogged approach moreover suggests that accomplices must be willing
(and open) to offer information quickly.
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Task 2
The time required for finishing the basic exercises can be diminished through
dividing the tasks into shorter path or avoiding non-required tasks or by applying a
few creativity in resembles or even by adding the movement shower by including
extra assets (Rampini, Viswanathan and Vuillemey, 2019).
For Bucks student festival project managing, the critical path which shows minimum
time taken by project manager in finishing project. All critical activities for this project
has been determined as: 1. Budget Approval. 2- Hire Publicity Director. 4-
Hire Place for Auditions. 5 - Advertising To Hire Crew and Cast. 9 –
Auditions to Hire Cast.
10 – Cast Rehearsal. 21- Dress Rehearsal. 22- Performance.
On the basis of network diagram and analyses of critical path, it was found that the
shortest time to finish the project will be 119 days
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Network Diagram: It will show all the necessary tasks start time and finish time;
calculation of early finish time, late finish time, early start time and late start time will
show proper breaking of events and will also help in preparing work breakdown
structure (Kerzner, 2017).
Calculations of EST, LST-EFT, and LFT will describe the critical path of the project
and will highlight the critical activities which can affect project to be completed on
time. Also define which tasks take much time and which one take less and also
supports in analysing any alternative to finish particular task on time.
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The expected total project time is 119 days; as this project will get finished within
expected total time. Expected total project time is also known as critical path; which
is maximum time taken by project to get finished. Critical path for above project are 1
– 2 – 4, 5 – 9 – 10 – 21 – 22. Total time is divided as follows: 1+14+7+2+84+1+10 =
119days. Calculation of EST, LST, EFT and LFT is done below:
N
r
Main Activities with
Predecessors Earliest Time Latest Time
Name of the Task
Star
t
Finis
h
Star
t
Finis
h
1 Budget Approval 0 1 0 1
2 Hire Publicity Director 1 15 1 15
3 Hire Set Designer 1 15 1 15
4 Hire Place For Auditions 7 22 15 22
5 Advertising To Hire Crew and Cast 7 22 15 22
6 Hire Production & Publicity Crew 22 50 22 50
7 Set Designed and Built 15 92 50 92
8 Train Production Crew 15 17 50 62
9 Auditions To Hire Cast 22 24 22 24
1
0 Cast Rehearsal 24 108 24 108
1
1 Hire Orchestra 1 8 1 8
1
2 Music 8 15 8 85
1
3
Photograph Cast And Crew &
Collect Biographies 8 43 8 86
1
4 Enter Information Into Computer 43 44 85 93
1
5 Printing 51 51 86 57
1
6 Develop an Advertising Plan 50 57 50 78
1
7 Advertising Media 57 78 57 78
1
8 Orchestra rehearsal 15 19 15 19
7

1
9 Order Costumes 24 31 24 31
2
0 Costume Parade And Alterations 31 36 92 97
2
1 Dress Rehearsal 19 20 108 109
2
2 Performance 20 30 109 119
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Task 3
WORK BREAKDOWN STRUCTURE:
Task4
RISK TYPE IMPACT ON PROJECT STRATEGY TO DEALING
WITH RISKS
Terrorist attack This can affect the entire
show; as it is normal
hazard at swarmed
capacities and
celebrations. The
estimation level of this
hazard or likelihood of
happening of this hazard
Celebration association
will take help of bomb
crews and nearby police;
military additionally
suggested whenever
required or estimation of
guests is more than 5000.
Appropriate checking and
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MUSIC FESTIVAL
STAGINGENTERTAI
NMENT
PROMOTIONFINANCEHUMAN
RESOURC
E
SITE
HANDOVER
CLEARING
NEIGHBOURS
ENVIRONMENT
COUNCIL
SELECTION
AUDIT
REPORT
BUDGET
TICKETS
ACCOUNTABLES
GRANTS
SPONSORSHIP
OTHER
CLUBS
INTERNET
TELEVISION
RADIO
PRINT

is 14% however sway is
100%; thus can't go on
without serious
consequences at this level
and if not handle can burst
the picture of entire
occasion sorting out group
and gathering. Because of
these hazard heaps of
guests life is in harm's
way. Thusly expects
centre to control at
beginning level.
fencing can limit the effect
and possibility of
happening of this
catastrophe (Meredith,
Mantel. and Shafer, 2017).
Loss of visitors
belongings
Guests from long
excursion where they are
situated at far spots will
accompany their effects
like baggage, camera,
child's utilities and
numerous different
adornments. Any
misfortune to these things
can hopeless them to join
any such show in future
(Heagney, 2016).
It very well may be limited at
introductory level by giving
putting away office to them.
This arrangement can build
the general expense of
undertaking because of
securing additional room to
them. The arrangement can
be successful in unravelling
this issue without expanding
generally cost of the task.
Occasion administrator can
report or educate guests at
the time regarding greeting
that there ought not be any
duty regarding their effects; if
conceivable they should put
all their costly things at inn
where they as of now
remaining. Alarming before
occurrence to be happen
may be better for both
occasion coordinators and
guests.
Overcrowding It is not sure that how
much public gathering will
be at festival. But ready in
advance for such situation
is good plan.
Overcrowding is good
from the point of view of
return on project but can
have negative impact on
whole project through
To control such
circumstance; occasion chief
can put elective places as an
alternative; the quantity of
guests could be assessed on
the bases of reactions and
remarks sees. Here
supervision and past pattern
investigation will help in
breaking down what is the
likelihood of additional
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generating violating
situation if not controlled
on time.
guests on show. It is
desirable over pick close
arena rather than open for
sorting out show; if likelihood
of open is less yet on the off
chance that congestion
circumstance is plausible
than open arena can be
acceptable decision to
oversee such circumstance.
Fire at venue Dance festival equipped
with lots of wiring, circuits,
fancy items and some
stunts with fire. Therefore
all this activity raises the
situation of fire at venue. It
can impact the whole
concert and can danger
the life of visitors as well
as participants and also
dancing crews.
Proper fire fighting
equipments and
appointing fire brigade can
handle such risk. Also
practice to prevent such
risk or adopting safety
before occurring of such
event will avoid any
interruption in concert and
also show good
management of whole
event organizing team.
No coordination Sometimes events not go
according plan; and
environment of blame
each other and not
following orders generate.
This situation can ruin
whole dance festival, for
instance in the absence of
coordination proper
playing of music and
increasing time gap
between contestants might
increase and make whole
concert boring even after
good effort of stars and
participants (Turner,
2016.).
To control such risks; it is
better to do practice and
understanding each roles
and responsibilities. Clear
break down structure is
able to solve this issue.
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References
Books and Journals
Glendon, A.I., Clarke, S. and McKenna, E., 2016. Human safety and risk management. Crc Press.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and implementing
effective risk management. Kogan Page Publishers.
Hubbard, D.W., 2020. The failure of risk management: Why it's broken and how to fix it. John Wiley &
Sons.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and controlling.
John Wiley & Sons.
Meredith, J.R., Mantel Jr, S.J. and Shafer, S.M., 2017. Project management: a managerial approach.
John Wiley & Sons.
Rampini, A.A., Viswanathan, S. and Vuillemey, G., 2019. Risk management in financial
institutions. The Journal of Finance.
Turner, R., 2016. Gower handbook of project management. Routledge.
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Appendixes
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