Project Management

Running head: PROJECT AMANGEMENT
Project Management
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Project Management 1
Answer to Definition of Methodology and its role in Project Management:-
Methodology can be defined as the technique of organized, theoretical or conceptual
analysis of the principles and methods that are applied to a particular field of study. In general,
methodology is the research strategy that outlines the approach in which research is to be
undertaken as well as identifies the methods or practices to be used in it (Marchewka, 2014). It is
notable that methodology does not define specific methods, though emphasizes the nature as well
as kinds of processes that are to be followed to attain an objective. Hence, a methodology does
not provide solutions. Instead, it provides the groundwork for understanding the best practice or
method that can be applied to a particular case or situation.
A methodology in project management provides a way to explaining a system used to do
something such as a good project team, appropriate tools of project management tools that are
required during beginning of any project.
Answer to various project methodologies and processes:-
The different project methodologies and processes are as listed below.
1) Project Management Body of Knowledge (PMBOK):- PMBOK is referred to as overall
collection of activities, best methods or practices, terms and guidelines (which implies body of
knowledge that evolves over time) that are accepted as standards for project management (Drob
& Zichil, 2013).
2) PRINCE2:- It is an acronym for PRojects IN Controlled Environments and it is effectively a
process-based and structured method for project management. It focuses on business
justification, defines organization structure for the project management team and segments the
project into controllable and manageable stages (Špundak, 2014).