Project Management Methodologies

Running head: PROJECT MANAGEMENT METHODOLOGIES
Project Management Methodologies
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1PROJECT MANAGEMENT METHODOLOGIES
A project management methodology is said to be a model, which are implied by the
project manager for designing, planning, implementing as well as to achievethe assigned
project objectives (Kerzner&Kerzner, 2017). The role that methodologies play in a project
management is that they define how the project should work following a set of guided
principles as well as communicate with the various levels in a project management (Muller,
2017).
PRINCE 2
Projects in controlled environments or PRINCE2 is defined as a structured method of
a project management (Alvarez-Dionisi, Turner&Mittra, 2016). The basic working principle
of this methodology is that it divides the projects into small parts so that the whole project
could be manageable as well as all the stages could be quite controllable.This methodology
has been adopted in many countries including UK as well as Australia. There are seven
principles on which the PRINCE2 is based on. These are stated below:
1. The proper justification of continued business mentioned in a document.
2. Learning from experience.
3. The roles and responsibilities are to be defined in a specific manner.
4. The whole project should be managed by different stages.
5. The different exceptions should be handled on a real time basis.
6. The delivery of the products should be focused.
7. The project environment should be tailored in such a manner that the size, importance,
complexity as well as time capability are suited correctly.