Project Methodologies: Categories, Role, and Relation with PMBoK and Prince2

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Assignment on
Project Methodologies
8/11/2017

Project management methodologies
Contents
1. Introduction:..................................................................................................................................2
2. Role of Project methodology in project management:..................................................................2
3. Categories of Project methodologies:............................................................................................2
4. Relation between Project life cycle, Prince2, and PMBoK:............................................................4
5. Conclusion:....................................................................................................................................5
6. References:....................................................................................................................................5
1

Project management methodologies
1. Introduction:
A methodology is used for designing and planning for achieving the objectives of the project.
The project methodologies act as an adaptive framework for program execution. “The plans
are prepared for the accomplishment of goal by using the set of principles of project
methodology” (Matos, 2013). The activities of the project management can be made lighter
and easier by involving the concept of project methodologies.
2. Role of Project methodology in project management:
The project methodologies help the manager for managing plan, initialization, and
implementation of the project. The closure of the project can be estimated by the project
methodologies. The plans and objectives can be easily achieved by using the models of
methodologies. “The project activities can be managed within the project scope and
scheduled time” (Hewagamage, 2011).
3. Categories of Project methodologies:
Agile Methodology:
In this methodology, the active participation of customers and stakeholders involves which
helps in empowering the project team. The focus is given on team management, project
monitoring and controlled system, response given correspondent to the changes required by
the customers, and others.
Waterfall methodology:
This methodology is based on sequential approach which involves the completion of each
phase in serial order. The different phases which are involved in waterfall methodology are
requirement specification plan, design concept, development, integration, testing and
validation, installation and implementation, and maintenance and monitoring. The
requirement should be specified in the initial stage of the project.
Prince2:
“The facts and standards are the basis of prince2 methodologies. It follows the concept of
process based approach” (Ghosh, 2012).
SDLC:
2