Role of Project Management Methodologies for Project Success

This literature review discusses the importance of project management methodologies in achieving project success. It covers the different knowledge areas of project management, including project scope, time management, human resource management, and risk management. The review also compares and contrasts different project management methodologies, such as PMBoK, Waterfall Model, PRINCE2, and Agile Methodology. The article includes insights from various scholars and experts in the field of project management.

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Role of Project Management Methodologies for Project Success
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Table of Contents
2. LITERATURE REVIEW............................................................................................................3
2.1. Introduction...........................................................................................................................3
2.2. Knowledge Areas of Project Management...........................................................................3
2.3. Kinds of Project Management Methodologies.....................................................................5
a) Project Management Body of Knowledge (PMBoK)..........................................................5
b) Waterfall Model..................................................................................................................9
c) Project in Controlled Environment (PRINCE2)................................................................11
d) Agile Methodology............................................................................................................12
2.4. Comparison and Contrast...................................................................................................15
2.5. Conclusion..........................................................................................................................17
References......................................................................................................................................19

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2. LITERATURE REVIEW
2.1. Introduction
Project management can be regarded as a discipline comprising of wide ranges of various fields
of knowledge. Important areas of project management comprise of quality schedule,
communication, stakeholders, project risks, project scope, resources etc. In accordance to the
opinion of Turner (2014), project management methodologies assist in augmenting efficiency of
a project manager in order to successfully managing a project. In this regard, it can be stated that
project methodologies are considered to be heterogeneous in its configuration and portions of a
methodology playing a role in supporting of a project in its lifecycle so as to attain the stated
objectives of a project. According to the opinion of Burkey (2013), project methodologies have
been developed to address low success rates of project.
2.2. Knowledge Areas of Project Management
According to Pollack (2007), project management can be defined as a management philosophy
that is regarded to include functionalities of business processes. It is considered as an emerging
discipline and included in different professions such as consulting, construction,
pharmaceuticals, government agencies, information systems, and others. Prominent areas of
applicability of project management are considered to be integral in project scopes and risks
accessibility, quality and schedule of budgets etc. (Balaji and Murugaiyan, 2012). The
knowledge areas of project management offer to define project scope to be integral in project
management activities involving risk management. Contrary to the above-mentioned definition,
Pant and Baroudi (2008) states that knowledge areas of project management are developed
through practicing of relationship skills that complements effectiveness in technical and soft or
communication skills. In this regard, the scholars have further stated with instance taken from
university educators pertinent to develop the soft and hard skills among the students of project
management.
According to Blomquist, e al. (2010), tactic knowledge in project management is considered to
be a domain of experiential, cognitive and subjective learning. On the other hand, explicit
knowledge is considered to be a domain enhancing the well-documented and accessible technical
knowledge. As per the opinion of Pant and Baroudi (2008), often companies overlook assets
existent within it housed under tactic knowledge. Tactic knowledge under project management

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are intangible assets such as hunches, intuition, insights, images, analogies, values etc. Ika
(2009) stated project scope management can be regarded as a knowledge area involving in
documenting and determining list of project tasks, deliverables, functions, features, costs etc.
Thus, it can be considered as project management objectives to be achieved and deliver the
projects in a timely manner. The other knowledge area of project management is considered to
be project time management that achieves to control, and monitor spent within a project (Balaji
and Murugaiyan, 2012). Thus, this area of knowledge in project management aims to record
times in a project, resolve any issues etc.
Project time management comprises of planning schedule, define activities and subsequently
sequence them, estimate activity resources, duration and development of schedules. According to
the opinion of K. Kerzner and H.R. Kerzner (2017), project integration management can be
considered as a branch of knowledge that includes a collection procedure required to ensure
varied elements in the project to be properly coordinated (Kerzner and Kerzner, 2017). Such a
knowledge area in project management requires involvement of trade-offs among available
alternatives, objectives so as to exceed or meet stakeholders’ expectations and needs.
Meredithand Mantel (2011) have also stated that project human resource management is
inclusive of organization, leading managing a team of project managers (Meredith and Mantel Jr,
2011). Project team comprises of people with assigned responsibilities and roles for completion
of a project. Project team member possess various skill sets, having full-time and part-time
access to project management. The knowledge area of project management in the sphere of
project management includes plan human resource management. According to K. Kerzner and
H.R. Kerzner (2017), the process is inclusive of documentation and identification of roles and
responsibilities, reporting relationships, required skills and creation of a plan for staff
management.
In accordance to the opinion of De Bakker, Boonstra and Wortmann (2010), project risk
management is another area of project management that initiates with identification of risks with
the help of team brainstorming, examination and systematic methodologies (De Bakker,
Boonstra and Wortmann, 2010). Identified risks includes technical, programmatic, corporate etc.
in nature. The second stage of risk management processes in project management is considered
to evaluation of identified risks into quantitative and qualitative ones and subsequently

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prioritizing them in accordance to its significant implications on the project (Cobb, 2011). The
third step of project management is plan risk response process and subsequently monitors the
risks in a systematic regime and schedules. According to Dybå, Dingsøyr and Moe (2014), one
of the integral steps of project risk management is communication with stakeholders on the risks
associated with the project and the associated quality or costs as well as exposures response
plans in details.
2.3. Kinds of Project Management Methodologies
In accordance to the opinion of Burke (2013), project management methodologies assist in
enhancing ability of project managers to successful manage a project. There exist varied project
management methodologies defining adaptive as well as predictive methodologies existent in
varied manners. Reflective PMMS can successfully contribute towards a project’s success.
Adaptive methodology, on the other hand, consists of ad-hoe modified in accordance to changed
project situations. As per adaptive and predictive methodologies, the scholar has further stated
that predictive project management set is inclusive of a pre-defined range of protocols, methods,
procedures along with including definite step (Castro-Lacouture, et al., 2009). In this concern, it
can be additionally stated that some of the project management methodologies are Project
Management Body of Knowledge (PMBoK), Waterfall Model, PRINCE2 and Agile
Methodology for Project Management.
a) Project Management Body of Knowledge (PMBoK)
According to the opinion of Rose (2013), PMBoK (Project Management Body of Knowledge)
stands or a standard set of knowledge where terminology for guidelines are given for project
management (Rose, 2013). In this regard, it can be further stated that skills and competencies of
project managers such as instructional design professionals and others initiate methodology in
the project execution as documented in PMBOK. The set of knowledge as depicted under
PMBOK sets guide for project management inclusive of initiation, planning, controlling,
monitoring, and executing. This kind of project management methodology denotes an entire
theory of quantity encompassing learning and practices in project management inclusive of
formal written structures of practice (Wysocki, 2012). This methodology further offers path to
project management success by denoting guides such as WBS or work breakdown structure and
determination of critical path.

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The other management disciples defining the path of PMBOK in attaining success in project
management can be considered to be budgeting, planning methods, financial forecasting,
management science and organizational behavior. With regard to the opinion of Bryde,
Broquetas, and Volm (2013), it can be stated that building information modelling or BIM in case
of construction of a building can be considered be an integral part of building’s performance.
From this instance, the scholar wanted to convey that in implementation process of BIM time
savings influence overall project duration and also has positive impacts on the schedule’s critical
path, increasing the time in the way. In this context, it can be stated that proper determination of
critical path under a project management can help in successful attaining of modelling time to
convert drawing in the paper into reality. Castro-Lacouture et al. (2009) in this context have
expressed their opinion on CPM or critical path method can be considered a technique which is
used in project management in construction industry. Project managers often use software for
commercial projects such as Microsoft Project, Primavera Project Planner (P3) etc. to outline
the critical path for a project. Thus, it can be stated that the role of critical path outline in the
success of project management is far-fetched.
Castro-Lacouture et al. (2009) have further stated that labour productivity has increased in
exponential manner when resources were properly allocated and managed as per CPM under
PMBOK methodology11. In this regard, the scholars have additionally stated that
conceptualization of projects fails to stimulate reality if proper incorporation of data in the
project management software is not done accordingly. The scholars have further added that the
significance of CPM in success of undertaken project is considered to be doubtful due to various
complications in the process such as delays with regard to project completion, material
shortages, early initiation time, crash costs, and increment in normal costs. O’Connor and
Laporte (2012) have stated that WBS and its associated components delivers concrete and
precise deliverables so that the project manager is well aware of what it is required to be attained.
The scholars have additionally stated that WBS cannot be utilized to replace a project’s schedule
or plan as it is a simple breakdown of deliverables. Furthermore, change control is utmost
necessity in case of WBS control and to understand its scope of success in project management.
In tunes of the above-mentioned opinion, Marchewka (2014) have stated that work breakdown
structure enables managers to work effectively and attain success in project management. As a

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project is considered to be adorned by time-limited activities, hence WBS offers to consistently
execute the projects. The fundamental purpose of WBS is the reduction of complicated activities
for a collection of tasks. The project management becomes important when oversees activities is
considered to be complex and thus WBS assist measuring specific costs related to such activities.
WBS is considered as a success measurement tool and track progress of the project schedule.
The scope of WBS as a project management methodology lies in tracking progress of a project
schedule having clearly defined limits (Wells, 2012).
Joslin and Müller (2015) have stated that PMM or Project Management Methodology denotes
enhancement of project effectiveness and increasing the prospects of success. Hence, PMMs can
be considered to be supporting project managers in attaining more predictable success rates in
projects. Impact of PMMs and its qualification standard depicts project success in project
management. Internationally recognized PMMs that has contributed fruitfully in defining the
success of project management are SDLC or System Development Life Cycle, PMI, PMBOK,
ERICKSON’S props and others (Wysocki, 2012). The scholar has further stated that PMMs can
be divided into customized and standardized PMMs. A combination of the above-mentioned
PMMs can also be implemented in a project that will enhance the prospect of attaining success in
a fruitful manner by the project manager. In this context, the scholar has further stated that
comprehensiveness of PMMs is also considered as a success factor. If PMMs of any organization
is not complete or is missing in its project management elements, then the success of the project
might be impacted due to lack of project effectiveness and quality.
The scholars have also forwarded the limitation of applicability of PMMs in the aspects of its
tools, techniques, processes and methods. PMMs vary in appropriateness and completeness from
one organization to another. All PMMs are not applicable in certain kinds of projects and hence
it is not feasible to look at a certain kind of practice under it. PMMs is considered to bring
standardization, quality and customization in the project management activities which ultimately
constitutes as a component of success in project management (Wysocki, 2012). As customization
under PMMs offer variations, thus, project managers often report that better results can be
obtained when the processes are tailored in accordance to the stated objectives. In this context,
the scholars have forwarded the fact that the organization or industry that are aligned with
context factors. The scholars have also stated that ‘owners’ of practices related to project

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management often perceive to achieve corporate objectives and thus follow the way of corporate
control and subsequent standardization (Lianying, Jing and Xinxing, 2012). PMOs or Project
management offices are focused on standardizing of organizational PMM per project.
Combination of both customization and standardization leads to decline in impact of different
components and consequently attain success in varied contexts.
According to Heagney (2016), the overall lifecycle of PMBoK comprises of four stages
initiating, planning, executing & controlling and closing. The first stage known as initiating
comprises of developing a charter for the project followed by identification of stakeholders so as
to ensure the successful accomplishment of the project objectives. Furthermore, the planning
process takes into consideration development of a suitable plan for the purpose of ensuring
effective management of the overall project activities within the scope of operation thereby
identified. Harrison and Lock (2017) stated that the planning process comprises of many sub
processes like WBS, scheduling, cost estimation, quality management, budgets as well as
identification of human resources required for the purpose of accomplishing the widespread
activities. It also takes into consideration identifying and analyzing risks followed by
identification of suitable resources for successfully overcoming the uncertainty situation. In the
execution, monitoring and controlling process, the process encompasses validation and
controlling each and every aspect associated with costs, quality, risks, stakeholder engagement as
well as communication all throughout the process (Harrison and Dennis Lock, 2017). Finally, in
the closing process, each and every activity associated with the individual project phases and
their respective procurements are closed down to declare final completion of the entire project
taken into consideration. The following figure provides a detailed illustration of the various
processes associated with PMBoK.
Figure 2.1: Operational Phases Depicted by PMBoK

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(Source: Kenneth, 2013)
b) Waterfall Model
The waterfall project management methodology comprises of a large number of stages,
successfully accomplishment of which step by step seems to provide high degree of operational
effectiveness (Alshamrani and Bahattab, 2015). According to Balaji and Sundararajan (2012),
the operational aspect of waterfall methodology seems to provide linear and rigid project
development phases, with no room for making any change or modification to the processes.
Waterfall model has been identified to be one of the notable aspects of software development
used in the modern environmental circumstances. However, the model fails considerably in
dealing with the changes in requirement that are likely to take place in relation to operational and
technological changes (Špundak, 2014). A complete and detailed description of the various steps
followed by waterfall model is as follows:
Figure 2.2: Waterfall Project Management Methodology

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(Source: Bassil, 2012)
The above diagram has provided a detailed overview of the processes that needs to be
accomplished in relation to developing software, in accordance with the project management
initiative of an organization. In the requirement stage, the organizations primarily focus on
analyzing in great detail the overall needs of the software development process followed by
documenting the processes that needs to be done (Heagney, 2016). According to Munassar and
Govardhan (2010), the design stage encompasses the processes associated with identifying the
technology to be implemented followed by developing a suitable work flowchart that needs to be
followed. The subsequent stages emphasize on developing suitable codes to solve the particular
problem of focus followed by testing it to identify any form of errors, bug or discrepancy. Bassil
(2012) stated that it also takes into consideration providing adequate degree of help and
assistance to largely accomplish by its objective of ensuring significant maintenance level.
As opined by Munassar and Govardhan (2010), One of the significant aspects associated with the
use of waterfall model in relation to project management is that project managers finds it to be
simplest and convenient method that can be employed in relation to developing a software.
Furthermore, Alshamrani and Bahattab (2015) stated that the high degree of rigidity offered by
the model seems to be highly significant in relation to ensuring successful accomplishment of the

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project objectives. It is mainly due to the assurance associated with successfully complying with
the specific deliverables in each of the stages and reviewing of the degree of effectiveness
accomplished (Špundak, 2014). However, the method seems to be highly difficult in case of
rectifying any mistake made in the previous stages. The rigid step by step process does not allow
project managers to go back to the previous stage once it has been successfully accomplished
(Ghosh, et al., 2012).
c) Project in Controlled Environment (PRINCE2)
Project in Controlled Environment (PRINCE2) is one of the leading project management
methodologies that tend to take into consideration a de factor process mode of operation (Ghosh,
et al., 2012). The method is of immense significance on focusing the overall justification
associated with the existence of an organization followed by development of a suitable structure
in relation to formulate an effective team. The PRINCE2 method largely takes into consideration
a product-based approach in relation to developing an effective plan to the process of project
management. According to Lianying, Jing and Xinxing (2012), the PRINCE2 methodology of
project management significantly takes into consideration segregating the overall project scope
into several stages. Each of the stages signifies the one that can be easily managed and controlled
in comparison to others. Furthermore, the method allows enforcing high degree of flexibility to
each and every stage that has been identified in relation to a project taken into consideration.
As per the research of Ghosh et al. (2012), he stated that PRINCE2 is known to have possessed
immense capability in relation to providing greater access and control to the resources that are
likely to be used in future as a part of developing a project. It also ensures high degree of
effectiveness in managing the overall aspect of business operations through the successful
management of risks and uncertainty. The project managers are identified to have greater access
to the operational scope underlying the project management operational activity of an
organization thereby considered. The following figure provides the overall working procedure of
a PRINCE2 method of project management:
Figure 2.3: PRINCE2 Methodology Framework

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(Source: Turley, 2018)
The above figure clearly indicates the aspects that an organization needs to consider for the
successful accomplishment of the project objectives. Each of the processes underlying PRINCE2
seems to strike an effective balance in relation to considering the overall business cope,
organizational competency, change adaptation, risk management and adherence to high quality
standards. According to Marchewka (2014), the method is largely capable of providing high
degree of consistency in relation to accomplishment of the project objectives right from the
initial stage to the final delivery of the product thus considered. Furthermore, the PRINCE2
method provides effective control to each of the three stages of product development, start,
midway and final completion. As opined by Špundak (2014), it also encompasses the process
associated with exhibiting adequate efforts on monitoring and reviewing the overall progress
made in relation to the project work thereby considered in accordance to the plan developed and
implemented initially. Wells (2012) stated that the most significant aspect of the process is that it
tends to provide high degree of assurance in terms of handling risks and quality management.
d) Agile Methodology
According to Bentley (2012), the agile project methodology is looked forward to as processes
that take into consideration a series of iterative processes for the purpose of successfully delivery
each and every requirement of a project. Each of the process in an agile methodology
experiences incremental throughput right from the initial planning stage to the successful

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accomplishment of the project objectives. Tore, Dingsøyr, and Moe (2014) stated that the core
operational objective of agile project management methodology largely focuses on exhibiting
high degree of trust, flexibility, communication, coordination, collaboration and empowerment.
The agile methodology is largely looked forward to as the process that tends to help
organizations successfully accomplish their strategic business objective associated with
incorporation and management of changes effectively within the organizational context
(Conforto, et al., 2014). Therefore, an organization looking forward to adopting an agile
methodology provides the very first instance of a widespread change management in the near
future. As per the study conducted by Cervone (2011), an agile methodology is known to
develop significant influence on the traditional culture of an organization and its overall
operational aspect in relation to successful accomplishment of a project. The introduction of an
entirely new process in accordance with the agile methodology often results in project managers
to experience adequate degree of agitation and resistance from the workforce and even the
stakeholders (Lee and Hwan-Seung Yong, 2010).
The agile methodology mainly comprises of two sub methods that are being enforced for the
purpose of accomplishing the objectives of a project work. According to Wysocki (2011), agile
method of project development provides project managers with the option to select from the two
methods, scrum and lean. The selection of the sub methods tends to take into consideration
detailed scope and objective of the product development project thus considered. Conforto et al.
(2014) stated that the project managers in relation to define the characteristic of an agile work
tend to highlight the capability associated with successful completion of works in shorter time
bursts followed by its successful delivery. Furthermore, the processes are repeated so as to
ensure high degree of refinement and thereby ensure complying to the desired level of quality as
demanded by the clients (Špundak, 2014). The following figure provides a diagrammatic
representation of the step by step process followed in relation to agile methodology:
Figure 2.4: Agile Methodology Framework

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(Source: Cobb 2011)
According to Lee and Young (2010), project managers in an organizational context looks
forward to considering an agile framework to possess immense capability associated with
developing high degree of empowerment, accountability and encouragement among the people
involved in the process. Furthermore, it takes into consideration developing a healthy and cordial
relationship in between the user engagement level and the organizational goals. This is mainly
due to the fact that the development takes place in successive iterations, thereby making it easy
to gain customer satisfaction or dissatisfaction in level (Špundak, 2014). The regular interaction
between the two parties is largely looked forward to as the most significant and crucial
advantage associated with agile project management methodology. However, one significant
drawback associated with the agile method that has been identified to be highly significant is the
incapability associated with assessing, identifying and determining the risks at each and every
aspect of project management, development and successful delivery. Furthermore, Turley (2018)
stated that agile method seems to be failing considerably in making effective use of the
organizational resources due to the uncertainty associated with the use among the people.
However, each of these disadvantages are largely overshadowed with the effectiveness of agile
framework in terms to flexible work operations and rapid adaptability to change management.

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This is mainly due to the widespread changes in the demand of the clients which are likely to
arouse due to the advancements taking place in the organizational context.
2.4. Comparison and Contrast
The primary objective underlying the operational scope of each and every project management
methodology is to ensure successful accomplishment of each and every need and demand of the
clients in relation to delivery of the final product (Balaji and Murugaiyan, 2012). Likewise,
PMBoK, PRINCE2, Waterfall and Agile methodology also helps managers to develop effective
planning in relation to a project. Meredith and Mantel Jr (2011) stated that the project
management methodologies primarily focus on documenting, reviewing and processing of the
overall aspect in which the project is likely to be developed and the resources thereby required
for the purpose. However, the detailed process followed by each of the four project management
methodologies thereby taken into consideration varies significantly and widely. The following
section thereby looks forward to providing a comparative analysis of each of the four methods. It
has primarily highlighted the areas and the operational aspects on which the methods differ
significantly.
Each of the stages associated with the project management initiative as highlighted by PMBoK,
initiation, planning, execution, control and closure forms the overall backbone of the entire
process. On the other hand, the PRINCE2 model operational activities rely on the use of seven
key themes that has identified in relation to accomplishing its operational activity (Pant and
Baroudi, 2008). Furthermore, the waterfall model provides a step by step approach to each of the
processes associated with requirement, design, implementation, verification and maintenance in
relation to managing project. However, the agile methodology seems to be completely different
since it does not take into consideration developing a step by steam approach. The agile
methodology thereby goes ahead with developing very small sprints of work process which has
largely been identified in relation to the present organizational demands in relation to product
development (Pant and Baroudi, 2008).
The PMBoK project management and development method tends to provide a substantial
framework in relation to effective management of the project scope and contract along with
several other factors (Balaji and Murugaiyan, 2012). However, each of the processes associated
with scope and contract management seems to be practically less robust and effective in relation

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to a project looking forward to considering PRINCE2. Furthermore, Balaji and Murugaiyan
(2012) stated that how the waterfall model provides a step by step approach along with detailed
specification of the requirement set for accomplishing a project. On the other hand, the agile
methodology is found to be completely different and distinct from all other methods. According
to Wysocki (2011), agile methodology is found to be much more flexible than all other methods
along with immense capability to produce highly satisfactory deliverables without making as
such important changes or subsequent reworks. The high degree of flexibility and adaptability
offered by the agile model seems to be highly significant in this regard.
The waterfall model of project management emphasizes on developing an effective and detailed
plan in relation to go ahead with the project work (De Bakker, Boonstra and Wortmann, 2010). It
also takes into consideration identification as well as determination of the requirements for each
and every step thus identified for developing the product right in the initial stage followed by
adhering to it word by word without any failure. However, agile methodology encompasses a
completely different outlook and perspective in relation to go ahead with the project work. As
per the opinion of Cervone (2011), agile methodology results in project managers to develop a
rough estimation of the activities and work to be done along with the requirements that are likely
to be needed. Furthermore, it largely takes into consideration developing at least a very small
portion of the project thus undertaken within the very first few days or weeks of initiation (De
Bakker, Boonstra and Wortmann, 2010). In doing so, the agile methodology thereby results in
the project managers thereby clarify the overall project management scope and the direction
considered towards product development, by taking into consideration the negligible amount of
work successfully accomplished. The agile methodology of developing project is a strict
contradiction to the PMBoK method too. The PMBoK method like waterfall model too goes
ahead with the process of developing an effective plan in relation to ensuring successful
accomplishment of the project thus considered. The project planning process under PMBoK
thereby takes into consideration initiation, planning, controlling, monitoring, and executing.
Each of these processes are further exaggerated and modified in accordance to the theoretical
concepts and processes underlying the project development scope of an organization. The
operational aspect under this method primarily encompasses the development of a suitable WBS
followed by identification of critical paths, so as to enjoy high degree of effectiveness.

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According to Wells (2012), the waterfall and agile methods of project development differs
significantly in relation to the factors associated with dealing with customers, interaction, change
adaptation and response as well as prototyping. The waterfall model is known to consider the
scope identified in relation to a project as a primary driver used for the purpose of calculating the
consequential cost required for accomplishing the project objectives. On the other hand, Špundak
(2014) stated that an agile method takes into consideration committing set resources over a
certain period of time with the primary aim of ensuring successful delivery of the products that
have been developed in successive time period. Furthermore, the waterfall model is found to be
highly beneficial when the project managers have a detailed knowhow on the requirements that
needs to be accomplished for successfully delivering the product thereby taken into consideration
(Munassar, Ali, and Govardhan, 2010). However, Cobb (2011) highlighted that agile
methodology is suitable for projects that do not have stringent requirement specifications and
there exists adequate scope for unexpected changes to take place within the project life cycle.
Therefore, it can be largely said that an agile methodology of project development seems to be
highly significant for projects that are exposed to high degree of change susceptibility over
traditional waterfall method.
2.5. Conclusion
From the above literature review it can be stated that proper selection of project management
methodology, the project manager or sponsor should detect the significant factors to enhance
chances of attaining among those success criteria. Thus, this literature review provided a critical
evaluation on the project management knowledge areas leading to attainment of project success,
types of project management methodologies and compare as well contrast them accordingly. The
four processes comprising of PMBoK, PRINCE2, Waterfall Model and Agile Model largely help
project managers to have a completely overview of which one to be selected. The primary
objective of each of the methodologies is to ease the overall process associated with successfully
accomplishing the project through the development of an effective plan as well as the steps that
needs to be accomplished throughout the period. Each of the four methods seems to be highly
significant in their own individual ways of dealing with project development followed by
successful accomplishment in the long run. The agile method has been identified to be slightly
different to that of other three methods. However, one significant drawback associated with the
agile method that has been identified to be highly significant is the incapability associated with

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assessing, identifying and determining the risks at each and every aspect of project management,
development and successful delivery. It is highly flexible and well adapted to the present
changing environment, thereby helping the process of accomplishing the overall aspect of project
management with high degree of effectiveness.

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