Project Management Report: Methodologies, Life Cycle and SDLC Analysis

This report provides a comprehensive overview of project management, focusing on the role of methodologies in achieving project objectives. It explores various methodologies, including Agile and Waterfall, comparing their similarities and differences, and highlighting their relationship to the project life cycle (PLC). The report emphasizes the importance of strategic plans in managing and controlling tasks, offering guidelines for achieving objectives and adapting to changing environments. It also discusses the System Development Life Cycle (SDLC) and its integration with PLC, particularly in the context of IT projects. The report concludes by summarizing the key aspects of project management, methodologies, and their impact on project success, emphasizing the importance of systematic management and adaptability in dynamic environments.

PROJECT
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1.1 Role of methodology in project management..................................................................1
1.2 Various methodologies and similarities- difference between them.................................2
1.3 Methodology relating to project life cycle.......................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Project is basically an operation which consists of tasks like designing a unique product
or service. These functions are done by managers who have the duty to bring new and innovative
products in market. Project management can contain procedures, skills, methods and knowledge
to achieve objectives. This report will include methodologies and its role and will also show their
relation to project life cycle.
MAIN BODY
1.1 Role of methodology in project management
Project methodology can be defined as strategic plans which are used for managing and
controlling task. These are the game plans which are used for implications of objectives and
product life cycle. They also act as guidelines or references which are used for managing or
achieving objectives (Fleming and Koppelman, 2016). Methodologies also suggest phases, tool
and techniques for supporting IT projects. These methods are flexible and should be easily
adaptable.
Project methodologies has a keen role in managing tasks easily and effectively. They help
company in managing the work systematically and enable them to face risk which can occur in
an uncertain and dynamic environment. These also provides confidence and motivation to
consumers, business partners, suppliers, and helps company in delivering them a large amount of
profit. Organisation with the support of these models can also deliver products at right place and
time which increases their operational efficiency, helps them in attracting, retaining customers.
Project management also helps in defining risk and issues which can be served in business and
support company in managing communication with stakeholders, investors and funders (Mir and
Pinnington, 2014). They also help in managing the project budget and delivering quality and
unique products to consumer.
1.2 Various methodologies and similarities- difference between them
Project management body of knowledge is intended to be guidelines which helps
company in achieving task with the help of various knowledge areas like integration,
communication, procurement, quality cost and scope management. This methodology includes
five process groups like initiating, planning, executing, monitoring and closing. Project in
controlled environment (Prince2) is a widely utilised method which are used by different
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industries in managing project. This process focuses on quality of product and helps in adapting
changes, also provides support while managing risk.
System development life cycle (SDLC) involves various stages like planning, analysis,
designing, implementation, maintenance and support which helps organisation in achieving
success. There are number of ways to implement SDLC like waterfall and agile. The waterfall
method is easy to understand and helps organisation in dividing work a responsibility and also
helps in utilising resources effectively. Agile method helps organisation in characterising project
by maintaining speed, facing uncertainties, managing risks and adapting changing requirements.
Agile method lays keen emphasis on four themes which may include customer, product,
project team and performance (Too and Weaver, 2014). This model helps in analysis of
emerging trends, shaping of future market, making appropriate decisions and search for
opportunities and risk. This method also consists of scrum which have three important roles like
master, product owner and development team. It also provides regular feedback and contains
lower risk. However, waterfall method does not follow all these themes and are less effective
than agile model(Svejvig and Andersen, 2015). This method do not provide response from
consumers or suppliers and contains higher amount of risk. Also, this practice is not flexible to
adapt.
1.3 Methodology relating to project life cycle
Project life cycle (PLC) are the collection of logical stages or phases that maps life of a
task from its beginning to end which helps in defining, building and delivering product. It helps
in defining, planning, executing, closing, evaluating project (Explain the phases of Project Life
Cycle. Compare it with SDLC, 2017). PLC lays emphasis on processes, tools, knowledge and
skills while SDLC focuses on developing and producing products. It also has a role in project life
cycle as many of the activities for producing goods occur during execution stage. The integration
of these two models is one of most useful reason for distinguishing IT projects from other tasks.
They help in achieving the objectives and goals related to task by managing project
systematically. SDLC is also easy to understand and flexible to adapt, helps in predicting
changes in environment.
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CONCLUSION
Report basically summarises about project management which helps in developing and
designing unique products. Further it includes role of methodologies which are used as a
guidance for managing and achieving objectives. Report also consists of various methods like
agile and waterfall which helps company in adapting and facing challenges. It also shows
relation of SDLC to PLC which makes IT projects different from other tasks.
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REFERENCES
Books and journals
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking
project management performance and project success. International journal of project
management.32(2). pp.202-217.
Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual
framework for project governance. International Journal of Project Management.32(8).
pp.1382-1394.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management.33(2). pp.278-290.
Online
Explain the phases of Project Life Cycle. Compare it with SDLC. 2017. [ONLINE] Available
through: <http://www.ques10.com/p/4299/describe-project-life-cycle-and-its-relation-
with-/>
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