Project Management Methodologies: A Comparative Analysis of Waterfall and PMBOK

Running Head: Project Management Methodologies
Project Management Methodologies
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Running Head: Project Management Methodologies
Table of Contents
1. Define what a project methodology is giving few definitions from various authors and the
role it serves in project management..........................................................................................3
2. Choose 1 methodology from this list to compare and contrast with methodology outlined
by Project Management Body of Knowledge (PMBOK), analyzing the similarities and
differences between them both...................................................................................................4
Similarities:................................................................................................................................5
Differences:................................................................................................................................5
3. Finally, identify how your chosen methodology and processes relate to the project life
cycle (PLC):...............................................................................................................................6
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Running Head: Project Management Methodologies
1. Define what a project methodology is giving few definitions from various authors and
the role it serves in project management.
Project management methodology can be defined as the process of making the overall
business process in a simplified ways to gain the ultimate profit from an investment. This
term has been used from the earlier 1960 by the renowned business organization in search for
effective ways that can minimize the business risks and to improve the strategic planning’s.
The main criteria that was created form this agenda is the communication and collaboration
in business to establish the ultimate production among the different sectors of an
organization.
The main motto of using the project methodology is to identify the best possible decision and
solution making strategies for an organizational culture (Aydanet al. 2017). This comprises
the specific strategies, innovative ideas and the approaches taken by a particular organization
to overcome the issues faced and to precede the business further. In broader sense, research
methodology provides a skeleton of the business strategies and the processes taken step by
step in depth. Therefore, by implementing the research methodologies, the project manager
gets an idea about the processes going to be happen and to find out the possible solutions of
the probable risks that may appear during any circumstances.
Figure 1: Project Management Framework
(Source: Patwardhan et al. 2016)
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