This assignment provides a detailed comparison of project management methodologies, focusing on PRINCE2 and PMBOK. It explores the pros and cons of each methodology, including the limitations of PMBOK in decision-making for project managers and the benefits of PRINCE2 in providing a single standard for project management. The assignment also delves into the seven processes of PRINCE2, explaining how they relate to the project life cycle. References from various academic sources are provided to support the analysis.