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Project Management Methodologies - Types | Assignment

   

Added on  2019-11-25

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PROJECT MANAGEMENT METHODOLOGIESINTRODUCTIONProject management methodologies are the approaches that a business management unit may take to control, direct, organize and plan all the operations or activities of the organization. Theseapproaches help the management team to specify the best, most effective and efficient way to initiate, plan and execute certain specific organizational operations (Baptista et al, 2016). Project management process is entirely rules by three main interdependent factors which are: the scope of the project, the time period scheduled to successfully complete the project and lastly costs of the project which include the costs of all the resources to be involved (Papke-Shields et al, 2017).The methodologies help employees or team member to be more efficient and more collaborative.This is simply because every member will have an idea of what is to be done when, where and by who. Well, it has been proven that most team projects as well as business organizations have become very successful after the use of project management methodologies to track and organizetheir organizational activities (Too and Weaver, 2014). In that case, there is a good number of project management methodologies that have been devised by business analysts and researchers. The common of them all include the following: Agile, waterfall or traditional, Critical Perth, PERT method, Scrum, Six Sigma, Critical chain, Prince2 among others. These are commonly used and very popular among many business organizations. In addition to that, these methodologies have proved to be effective and efficient in ensuring business continuity and success. In this assignment I will discuss four of the best methodologies that I think are suitable for the three business organization. However, I will choose the most suitable, effective and efficient methodology for each business according to its needs.TYPES OF PROJECT MANAGEMENT METHODOLOGYWaterfall/Traditional MethodologyIt is the simplest of all methodologies. It handles the project’s activities sequentially. This means that an activity can be done only if the preceding one is completed, i.e. stage by stage. This method requires that before the start of any project, all the requirements are listed and defined. Also, it requires that no changes should be made to the project end result or execution process during this period of defining the requirements (Špundak, 2014). In this methodology, the project

team members are not allowed to go back to any management stage after the stage is completed. This means that in each stage, the members should ensure complete and thorough (100% successful) work is done before going to the next stage. In other words, the members should ensure that no room for error or change during the planning process which has to be followed to the letter.AdvantagesIt is simple and easy to understandEasy to manageNo activity overlapsExcellent record keeping for future useIt is able to show a clear picture of the final project resultDisadvantagesNo room for change once a stage is completeIt is a very risky and uncertain methodRelies heavily on the requirements made in the beginningProduct testing can be done only at the end of the processA lot of uncertainty especially for the project team membersWhen to use Waterfall MethodologyWhen the client is sure about what they want. Has clear and fixed specifications and characteristics of the end resultWhen the project is clearly simple and directEffective for smaller projects where requirements are well understood by everyone involved.Agile MethodologyThis method’s main objective is to inflict change in an organization whenever possible. Therefore, I focuses on producing good quality results and collaborating with the product users. It is offers completely different opportunities to the project member contrary to waterfall methodology. The project members are able to correct possible mistakes made in previous stages

of project process. Also, the client as the opportunity to make any changes desired at any time or stage of the project process (Kannan et al, 2014). The methodology requires that the tasks and activities to be executed and delivered as the project process demands. Therefore, this characteristics make it a flexible, frequented design and effectively building process that can deliver results in an efficient manner.AdvantagesPotential problems can be predicted before they happenAllows changes to be done in the middle of the process, i.e. even after the planning stageTesting is done after every stage (sprint) to ensure that the end result qualityEnd product can be launched at any stageDoes not stress on documentation which saves money and timeDisadvantagesNot suitable for large and complicated projectsOffers opportunities to make changes during the process which increases the project delays and possible problemsDoes not stress on documentation therefore can be misleading in the futureWhen to use Agile MethodologyWhen quality of the end product is not very importantWhen clients lack specifics of the end product and so can change the characteristicsWhen the client has no clear picture of what product they wantWhen the project members are skilled and adapted to changePRINCE2 MethodologyIt is called the Projects In Controlled Environment, Second Version methodology. It is the most widely adopted project management method. It is basically used by individuals and business organizations over a wide range of fields like in industries and other public and private sectors. This method is flexible which reflects its support for any kind of project regardless of the type or scale (Tomanek and Juricek, 2015). In this method, the project team members are given their

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