Comparison of PMBoK and Agile Framework for Project Management

PROJECT MANAGEMENT

EXECUTIVE SUMMARY
Each project has specific scope and stakeholders have different expectation from project. There
are various methods to complete any project successfully and addressing the requirements.
Present study compares PMBoK and Agile framework of project management. PMbBok is
internationally accepted method for completing any kind of project. It is considered as process
oriented method because it follows set process and do not review the progress in between the
task. Agile project method takes support of story point system for unit of measurement. It sets
initial baseline and set various parameters in order to estimate cost. Study explains practical
applicability of these methods in order to complete any project successfully.

Table of Contents
INTRODUCTION...........................................................................................................................1
ANALYSIS......................................................................................................................................1
Project methods...........................................................................................................................1
Comparison of project methods...................................................................................................2
Practical applicability of project methods...................................................................................6
CONCLUSION................................................................................................................................7

INTRODUCTION
Project management can be defined as tools and techniques that are used to complete the
project and meeting with the actual requirements. It includes initiation, planning, execution,
monitoring and closing phases. Present study will explain the methods of managing project
successful. Furthermore, it will compare approaches PMBoK and Agile.
ANALYSIS
Project methods
PMBoK method
PMBoK is considered as body of knowledge that always concentrates on applying such
process that can help in getting best results (Kerzner and Kerzner, 2017). PMBoK includes five
major phases in order to accomplish the project successfully. These stages are: initiating,
planning, execution, monitoring and closing. This technique mainly focuses on process that is
applied by project manager (PM) in order to complete the proposal within specified period of
time and quality. The major benefit of applying PMBoK approach is that it allows business to
implement standardise practices and maintain standards. This helps in minimising risk and
managing sudden constrains significantly.
 In the initiation phase, manager has to define aim and objective of particular project.
Individual has to start new task by obtaining authorization for this task (Rodriguez and
et.al., 2017).
 In planning phase, PM has to establish scope and has to refine the actual objectives.
Individual has to schedule all activities so that project can be completed on time and with
quality.
 Executing: It is the next stage in which all the planning that has been done of PM is being
executed in order to satisfy specification of project.
 Monitoring and controlling: It is the phase in which manager has to monitor activities and
have to control over it. They have to identify necessary areas that require changes or
improvement so that issues can be minimised and project can be accomplished with
quality (Landry and McDaniel, 2015).
 Closing is the last stage in which all the tasks are being finalised and it is formal way to
close the project.
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