The assignment provides a comprehensive overview of project management methodology, comparing and contrasting Waterfall and PMBOK approaches. It discusses the roles of project management methodology in decision-making, time management, project scope control, and problem resolution. The assignment also explores the different phases of the Waterfall methodology, including feasibility study, requirements gathering and analysis, design and specification, coding and module testing, integration and system testing, and final delivery and maintenance. References to various studies and research papers are included.