Project Management Methodology

Running head: PROJECT MANAGEMENT METHODOLOGY
PROJECT MANAGEMENT METHODOLOGY
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PROJECT MANAGEMENT METHODOLOGY
Table of Contents
Definition of the methodology:..................................................................................................2
Role of the methodology for the compilation of the project:.....................................................2
Comparative study between two selected project management methodologies:.......................2
Comparison between PRINCE2 and Waterfall model:..............................................................3
Similarities between PRINCE2 and Waterfall model:...............................................................4
Identification of the PRINCE2 methodology in the project life cycle:......................................4
Identification of the waterfall model in the project life cycle:...................................................5
References..................................................................................................................................6

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PROJECT MANAGEMENT METHODOLOGY
Definition of the methodology:
For the compilation of project in a proper technique selection of the right management
methodology is important. Project management methodology defines the series of processes
needed for the project to deliver the proper outcome (Model, 2015). The processes of the
project management methodology has certain steps those are followed by PMBOK.
Role of the methodology for the compilation of the project:
Methodology helps project to identify requirements needed for execution of the
project. Selection of management methodology is dependent on type and role of the project
(Krysiński & Miller, 2016). Apart from that the proper selection of project management
methodology is helpful managing resources of project in a proper way.
Comparative study between two selected methodologies:
Selected management methodologies in this paper are- PRINCE2 and Waterfall
method.
Waterfall:
Waterfall methodology is considered as the oldest methodology. At the initial stage
the main objective of the waterfall methodology was to manage the increasing complexity of
the project. The main advantage of the waterfall model is its simple approach. The whole
methodology is divided into discreet stages. At the initial stage the gathering of the
requirement is needed to be done. After the gathering of the requirement analysis on those
requirements is done. The designing is the blueprint for the execution which is based on the
gathered requirement. The implementation is done on the basis of the design (Scheingross et
al.,2017). After the execution the testing and maintenance is done. Each of the steps is needed