Project Management Standards: A Comparative Analysis Report

This report provides a comparative analysis of various project management standards, including PMBOK, PRINCE2, APM, ICB, and Scrum, and their impact on global projects. The report begins with an introduction to project management standards, defining them as consensus-based documents that provide guidelines for achieving project objectives. It then delves into a detailed comparison of the standards, highlighting their key characteristics, strengths, and weaknesses. The analysis covers the impact of each standard on global projects, discussing their applicability and effectiveness in different contexts. For instance, the report notes the increasing use of PMBOK in global outsourcing projects. The conclusion emphasizes the importance of these standards in strategic planning and successful project execution. The report uses references to support its findings, providing a comprehensive overview of the subject.

Running head: PROJECT MANAGEMENT
Project Management
Name of the Student
Name of the University
Author Note

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PROJECT MANAGEMENT
Table of Contents
Introduction..........................................................................................................................2
Project management Standards and their Impact on global Projects...................................2
Conclusion...........................................................................................................................4
References............................................................................................................................5

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PROJECT MANAGEMENT
Introduction
A standard can be established as a document that is established consensus and is
approved by a recognized body (Crawford, Pollack and England 2007). The standard provides
rules and guidelines to achieve an aimed objective. The different standards of project
management that are used in different projects across the globe include PMBOK, P2M, ICB,
PRINCE2, APM, Scrum and so on (Ghosh et al. 2012). Out of these the most widely used
project management standards include PMBOK, PRINCE2 and scrum. A comparative analysis
of the different project management standards are discussed in the following section.
Project management Standards and their Impact on global Projects
PMBOK P2M ICB PRINCE2 APM Scrum
The PMBOK
is an widely
recognized
standard and is
widely used for
management of
global projects.
It can be
described as a
guide to project
management as
it provides a
detailed
knowledge
P2M can be
described as a
guidebook of
project and
program
management
associated with
Enterprise
innovation
(Starkweather
and Stevenson
2011).
It is a guide
that drives the
ICB is a
project
management
standard that is
used for
management of
the global
projects.
ICB provides a
conceptual
framework for
successful
execution of
PRINCE2 is a
process of
management of
the projects in
a controlled
environment.
PRINCE2 is a
widely
recognized
standard across
the globe
(Matos and
Lopes 2013).
APM is a
chartered body
for project
profession.
The APM is a
progressive
structure of
project
management
that helps in
advanced
project
management.
Scrum is a
project
management
methodology
or standard that
is used
managing the
software
delivery of the
project
(Mahalakshmi
and
Sundararajan

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PROJECT MANAGEMENT
about the tools
and techniques
of successful
project
delivery.
PMBOK deals
with 5 process
groups and 10
knowledge
areas that
improve the
process of
project
execution.
The
implementatio
n process of
the project
through
PMBOK
approach is
quite complex
and for that,
prior
experience is
required.
project towards
success.
P2M is
developed by
the
Engineering
Advancement
committee for
innovating the
process of
project
management.
Similar to
PMBOK, it is a
guidebook that
ensures
successful
delivery of the
project.
Impact: Like
PMBOK, P2M
is also applied
in global
projects
associated with
Japan
the project.
Impact: ICB is
a standard that
is used in
global project
and therefore
has positive
impact
Impact:
PRINCE2 has
lesser impact
on global
projects but is
widely used in
UK
Impact: APM
has a very less
impact on
global projects
2013).
It makes use of
iterative and
incremental
practice for
delivering a
working
software.
Impact: Scrum
has no such
impact on
global projects
but is used for
software
development
projects across
the globe.

4
PROJECT MANAGEMENT
Impact: With
the increase in
global
outsourcing of
the project, the
use of PMBOK
in global
projects has
increased as
well. Thus it
can be said that
PMBOK has
positive impact
on global
project
Conclusion
The report discusses the different project management standards and compares their
characteristics. The different project management standards advise the managers in on strategic
planning of the project thus ensuring the successful execution of a project. The standards are
mainly based on the consensus protocol and are developed to meet the demands of the project.
The impacts of identified project management standards are discussed in the report.

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PROJECT MANAGEMENT
References
Crawford, L., Pollack, J. and England, D., 2007. How standard are standards: an examination of
language emphasis in project management standards. Project Management Journal, 38(3), pp.6-
21.
Ghosh, S., Forrest, D., DiNetta, T., Wolfe, B. and Lambert, D.C., 2012. Enhance PMBOK® by
comparing it with P2M, ICB, PRINCE2, APM and Scrum project management standards. PM
World Today, 14(1), pp.1-77.
Mahalakshmi, M. and Sundararajan, M., 2013. Traditional SDLC Vs Scrum Methodology–A
Comparative Study. International Journal of Emerging Technology and Advanced
Engineering, 3(6), pp.192-196.
Matos, S. and Lopes, E., 2013. Prince2 or PMBOK–a question of choice. Procedia
Technology, 9, pp.787-794.
Starkweather, J.A. and Stevenson, D.H., 2011. PMP® certification as a core competency:
Necessary but not sufficient. Project Management Journal, 42(1), pp.31-41.