PMBOK Versus PRINCE2 or Agile in Contemporary Projects

PMBOK VERSUS PRINCE2
in contemporary projects
1

Table of Contents
INTRODUCTION...........................................................................................................................3
SIMILARITIES BETWEEN PMBoK AND PRINCE2..................................................................3
DIFFERENCES BETWEEN PMBoK AND PRINCE2..................................................................4
METHOD TO CONTROL PROJECT RISK..................................................................................4
PROJECT CONTEXT.....................................................................................................................5
LIFECYCLE IMPLICATION.........................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7
2

INTRODUCTION
Project management refers to the process of leading the work of team which helps in achieving
the project goals within the given time constraint. The organisation should use the process of
describing the project documentation which helps in creating the beginning of development
process within the organisation. This includes the one-time project and constant set of activities
which is done by the project manager to manage the resources. Project management body of
knowledge (PMBoK) refers to the entire collection of best practices, processes, guidelines and
terminologies which are further accepted as standard within the project management industry.
PRINCE2 refers to the technique structure of project management technique and practitioner
certification program (Vivanco León, 2020). This method is emphasized on the dividing the
projects with manageable and controllable stages within the organisation. This report is based on
two project management methodology which are PMBoK and PRINCE2. It covers the
similarities and differences between these project management techniques, further the risk
associated with these techniques are also discussed. Further the types of projects in which these
methodologies can be used are discussed along with application.
SIMILARITIES BETWEEN PMBoK AND PRINCE2
There are a range of similarities between these two approaches, these similarities are further
discussed on technical aspect:
 Both of these identify the organisational culture and the context of portfolio within the
context of project.
 Both of these methodologies are considered to the human resources and the availabilities
which are included within the different stages and processes.
 Both of them identify a range of processes that exist within the organisations assets which
are further used by the project manager.
 Both PMBoK and PRINCE2 must be used by the product manager for inducing all the
practices that that are organised in a common step which achieves the process of project
management.
 Both of these methodologies that are PMBoK and PRINCE2 must undertake the practices
and broad range of techniques which helps in managing and completing the project in a
specified set of time period.
3