Project Management Methodologies: Selecting Between PMBOK and PRINCE2

This report provides a comparative analysis of the PMBOK (Project Management Body of Knowledge) and PRINCE2 project management methodologies. It delves into the history of both methodologies, highlighting their origins and evolution. The report outlines key differences between PMBOK and PRINCE2, focusing on their prescriptive nature, orientation (process vs. knowledge), the role of the project manager, and the importance of the business case or project plan. It also identifies similarities, such as their applicability with varying levels of project management experience and their consideration of project deliverables. The report concludes by advocating for the PMBOK methodology due to its extensive range of techniques and tools and its comprehensive treatment of knowledge areas, including procurement management, which is not covered in PRINCE2. This analysis helps in understanding the nuances of both methodologies and aids in selecting the most suitable approach for project management.

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

Table of Contents
1. History:...................................................................................................................................2
2. PMBOK and PRINCE 2 differences:.....................................................................................2
3. Similarities:............................................................................................................................3
4. Methodology Chosen:............................................................................................................4
5. References:.............................................................................................................................5

1. History:
The origin of the PRINCE2 was in the year of 1975 and it was formalised by the
United Kingdom Government. This process of the project management was inspired by a
private sector framework. The PRINCE2 was actually derived from the PROMPT and this
was developed Simpact Systems Ltd (Matos and Lopes 2013). This PRINCE2 was officially
published in the year 1996 with about 150 European organizations. First major division of the
PMBOK was performed in 2009 following that second major revision was done in 2017.
In early versions the PMBOK guide was identified as the American National
Standards Institute or ANSI. The evolution of the PMBOK reflected in editions of the Guide.
Project management institute or the PMI first published this guide in 1996. Major changes in
the PMBOK was done in the third edition which was published in 2004 following that forth
edition published in 2008 and fifth edition published in 2013.
2. PMBOK and PRINCE 2 differences:
Some of the differences between the two methodologies are described in this context in
details:
PRINCE 2 PMBOK
PRINCE2 is best described as a
methodology framework
PMBOK is best described as a body of
knowledge with best practices for the
project management
PRINCE2 is more prescriptive than the
PMBOK
PMBOK is less prescriptive than the
PRINCE2
PRINCE2 is considered as process-oriented PMBOK is considered as knowledge-

oriented
With PRINCE2, the project manager lacks
power, it offers more of a coordination role
and the real power is presented to the
executives
With PMBOK, the project manager has
more important role and it places the project
manager in a central position and compared
to the PRINCE2, it provides more decision
power to the project manager
With PRINCE2, the business case has the
capability in driving the project in a more
efficient way
With PMBOK, the plan designed for the
project is an important element as it drives
the project
3. Similarities:
Although there are various differences between the two project methodologies,
PMBOK and PRINCE2, there are some important similarities between these two popular
project management methods (Hinde 2018). These similarities have been described in this
context in details:
PRINCE 2 PMBOK
It is less difficult to apply in the project,
even if there is less knowledge and
experience of project management
PMBOK is not difficult either and it is
appropriate for learning project management
skills because it is presented in an organized
fashion as knowledge areas
PRINCE2 emphasizes products and
considers them as deliverables
PMBOK also considers project artefacts and
those are also considered as deliverables for
the project as well

4. Methodology Chosen:
In personal point of view PMBOK will be chosen in between PMBOK and PRINCE2
for the project management. The main strength of the PMBOK over the PRINCE2 is that it
provides wide range of various convenient techniques and tools (Skogmar 2015). Combining
there are total 132 techniques and tools within the PMBOK guide. Thus it provides various
ways of executing a project which is the main advantage of the PMBOK and for that it has
been chosen. With that the PMBOK also provides comprehensive treatment of various
knowledge areas (PMBoK 2013). Comparing with the PRINCE2 the PMBOK covers all the
topic that is covered by the PRINCE2 but also it covers procurement management which is
not covered in PRINCE2.

5. References:
Hinde, D., 2018. PRINCE2 Study Guide: 2017 Update. John Wiley & Sons.
Matos, S. and Lopes, E., 2013. Prince2 or PMBOK–a question of choice. Procedia
Technology, 9, pp.787-794.
PMBoK, A., 2013. A guide to the project management body of knowledge (PMBOK
guide). Project Management Institute, Inc.
Skogmar, K., 2015. PRINCE2, the PMBOK guide and ISO 21500: 2012. London: Axelos.