Project Management Methodologies : PDF
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Added on 2021-04-21
Project Management Methodologies : PDF
Added on 2021-04-21
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Running head: PROJECT MANAGEMENT METHODOLOGIES Project Management Methodologies Name of the student:Name of the university:
1PROJECT MANAGEMENT METHODOLOGIES1. Defining Project Management MethodologyProject Management Methodology (PMM) is referred to as a tool that provides supportand guidelines to the project managers to execute project successfully. It can be said that, projectcomplexities and size both can be managed accordingly with project management methodology.According to Machado, Pinheiro and Tamanini (2015), project methodology ensures the successof project and also estimates the budget, time and schedule. Two different components such ascomplexity and change are currently increasing frequently in the business organizations whichare needed to be managed properly. In order to survive in the evolving workplace, any project isrequired to be competitive, productive, consumers eccentric and cost effective as well. Gold andVassell (2015) stated that, project management helps to obtain success and consistencythroughout the project life cycle. PMM provides an overall roadmap that must be followed by theproject developers during the development of any project (Hornstein, 2015). This frameworkacts as a tool that leads to execute a project considering its strategic vision, mission, goal andobjectives. Role of project management methodology for managing projects For managing any project, PMM plays important roles and the benefits generate from itare as follows:Better efficiency for delivering service: With the help of PMM, the project developerwill be able to obtain project roadmaps that have to be followed for successfully executing anyproject (Chofreh et al., 2015). The work efficiency will automatically increase after the projectmanager will get to know about the obstacles properly.
2PROJECT MANAGEMENT METHODOLOGIESChallenges can be resolved: The project level challenges can be resolved easily as limitsthe project within limited and useful resources only. It helps to generate project risk register toidentify the probable issues.Reduced risks: PMM reduces the rate of risks and tends a project towards massivesuccess (Spundak, 2014). It also helps to take effective decision making for the successfulcompletion of the project.Increase team support: It increases the support level of the project team and buildsstrong relationship between the suppliers and the consumers. It helps to deliver the project withinestimated time regardless of the location of the consumer. Ensure continuous improvement: PMM make sure that the project is maintaining all thecomponents for continuous development and success. 2. Compare and contrast between Agile scrum and Project management bodyof knowledge (PMBOK)According to Kerzner and Kerzner (2017), agile PMM is much effective and beneficial toimplement than the Project management body of knowledge (PMBOK). PMBOK is rigid innature and thus it is very less flexible. Thus, for today’s business environment PMBOK is not atall beneficial and suitable. The quality and speed of a project are dependent upon performance ofthe project team members, their direct interaction with the managers. In current business organizations most of the projects are developed using the agile scrumPMM. Agile SCRUM is referred to as a framework within which developers can easily addresseach complex adaptive issue while the productivity and creativity delivers products of highest
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