Comparison of PRINCE2 and PMBOK Methodologies

The assignment requires a detailed comparison of the PRINCE2 and PMBOK methodologies, including their key processes, steps, and acceptance criteria. It also asks to identify equivalent steps between PRINCE2 and Project Life Cycle (PLC). The response should be based on the provided references and include relevant details from the references.

Running head: PROJECT METHODOLOGY
PROJECT METHODOLOGY
Name of the Student:
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Author Note:

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Project Methodology
Project methodology is defined as the way or process to be followed in order to execute a
project within the given timeline. The application of project methodology is not applicable to a
fixed area off study. It can be used by the managers to implement any kind of project (Snyder,
2014). There are various types of management methodologies. The application of the type of
project management methodology depends on the category of the project. The project
management methodology helps project managers to develop each stage of the project from
initiating to closure of the project (Moraes, 2016). It can be termed as a strategic practice which
includes the game plane for developing the project lifecycle. A good project management
methodology must be flexible and its steps should include practices, which are learned from the
previous experiences. The project management methodology can be of two types- Traditional
and Agile.
Discussion
A Comparative analysis between PMBOK and PRINCE2:
PMBOK:
Project Management Body of Knowledge is the guideline for the project management
professionals in order to implement a project (Jaferi, Parsa & Sajadi, 2016). PMBOK consists of
different guidelines and methods in order to execute a project properly along with meeting its
requirements.
The first two chapters of PMBOK provide the introductions of basic concepts of project
management. The standards regarding the project management is described in the chapter 3 of

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the book (Golini, Kalchschmidt & Landoni, 2015). The detailed guidelines and tools and
technique regarding the project management are described in chapter 4 to chapter 12.There are
10 project management knowledge areas are defined in the PMBOK guide. These are-
procurement management , human resource management , scope management, cost management,
quality management , risk management, time management, communications management,
integration management, stakeholder.
There are five PMBOK process management groups- Initialization of project, plan the
project, execution of project, control and monitor the project, and closing of the project.
Each process is interconnected to each other.
Advantages of PMBOK:
 PMBOK offers a well defined guideline for the project management.
 This defines the needs which are needed to be covered in the project management process
 It defines the components and stakeholders of the project.
PRINCE2:
PRINCE2 defines the methodology of project in controlled environment. PRINCE2 has
seven principals. These seven principals are based on the four elements- principals, process,
themes and tailoring. The principals of PRINCE2 are- Product Focus, Manage the Stage ,
Lessons Learned, Manage by Exception, Business Case Driven, Accountability, Adapt to the
Project.
In PRINCE2 methodology the role of everyone involving in the project are well define. This
methodology is perspective but it can be tailored (Baptista et al.,2016). The methodology is easy

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to follow in case of running projects. However, in case of PRINCE2 the justification of area of
knowledge is difficult.
Advantages of PRINCE2:
 PRINCE2 provide the advantage of change in control of the running project.
 PRINCE2 provides the clear stages of the ach project, which gives clearer view of the
status of project.
 This methodology defines the role of project manager.
 This methodology is flexible and easy to use. The methodology is worldwide recognized
and accepted.
Comparison between PRINCE2 and PMBOK:
Difference between PRINCE2 and PMBOK:
PRINCE2 PMBOK
Origin of PRINCE2 is in United Kingdom. Origin of PMBOK is in United States.
PRINCE2 is maintained by APMG. PMBOK is maintained by PMI.
In PRINCE2 the approach is process based. In PMBOK the approach is knowledge based.
PRINCE2 is perspective type. PMBOK is non-perspective .
Role of everyone involved in the project is well
defined in PRINCE2 methodology.
In PMBOK the role of project manager is
highlighted
PRINCE2 describes the importance of different
stages of project plan.
PMBOK only states the project plan.
In case of PRINCE2 the change of control in the
flow of project management is well defined.
In PMBOK the only the need of changing the
control of the project is stated.
In PRINCE2 there in no division of the type of risk. There are two types of description of risk in

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PMBOK-residual risk and secondary risk.
Similarities between PMBOK and PRINCE2:
Both PMBOK and PRINCE2 is used for developing the methodology of the project
management tasks. In both cases the mapping of the task of project management processes are
similar (Brioso, 2015). The main drawback for both the methodology is that no future action plan
can be inherited from the required changes (Kononenko & Kharazii, 2014). Both PRINCE2 and
PMBOK offers the same process of risk management and the definition of risk taker is same in
both the methodology.
Identification of PRINCE2 with project life cycle:
Project life cycle has five stages-
 Defining project goals
 Planning of the project
 Execution of project
 Closure of project
 Evaluation of the project.
These logical steps ensure the conduction of the project has happened properly.
In case of PRINCE2, the methodology consists of seven steps. In this case the project is
broadly divided which helps to evaluate the project plan. Theses seven steps are-
1. Start Project
2. Initiate Project

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3. Direct Project
4. Control Stage
5. Manage Product Delivery
6. Managing Stage Boundaries
7. Closing Project
Steps of PRINCE2 can be identified with the Project Life Cycle.
Steps which are equivalent with the steps of PLC in PRINCE2
PLC PRINCE2
Defining Project Goals Start of Project
Planning of Projects Initiation of Project
Execution of Projects Direct the project, control stage ,managing product
delivery, manage stage boundaries
Closure of Project Closing of project
Evaluation of Project -
Acceptance between PRINCE2 and PMBOK methodology:
The PRINCE2 methodology focuses on the management of delivery of the product ,
which helps the product to be delivered in time (Karaman & Kurt, 2015). PRINCE2
methodology is more acceptable than PMBOK as it defines the clear role of project manager and
it also defines the various perspective of the project by breaking the project plan into different
stages.

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References
Baptista, A., Santos, F., Páscoa, J., & Sändig, N. (2016). Project management methodologies as
main tool for current challenges in global economy driving historical changes. Journal of
Advanced Management Science, 4(2).
Brioso, X. (2015). Integrating ISO 21500 guidance on project management, lean construction
and PMBOK. Procedia Engineering, 123, 76-84.
Golini, R., Kalchschmidt, M., & Landoni, P. (2015). Adoption of project management practices:
The impact on international development projects of non-governmental
organizations. International Journal of Project Management, 33(3), 650-663.
Jaferi, F., Parsa, M., & Sajadi, S. M. (2016). A Study on How to Improve PMBOK (Project
Management Body of Knowledge) Guidelines Performance by Simulation. World
Academy of Science, Engineering and Technology, International Journal of Industrial
and Manufacturing Engineering, 3(1).
Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince 2
versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering
Research, 4(5), 657-664.
Kononenko, I., & Kharazii, A. (2014). The methods of selection of the project management
methodology.
Moraes, A. J. (2016, January). Customization of Project Management techniques for the
construction of IT-Information Technology Systems with the Development

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Methodologies known as Agile Processes (Customização das técnicas de Gerenciamento
de Projetos para a construção de Sistemas de TI-Tecnologia da Informação com as
Metodologias de Desenvolvimento conhecidas como Processos Ágeis). In WMSCI'16—
20a. Multi-Conferência Mundial em Sistemas, Cibernética e Informática), IIIS-
International Institute of Informatics and Systemics (Instituto Internacional de
Informática e Sistemas), Proceedings (Anais).
Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK (®)
guide. Project Management Institute: Newtown Square, PA, USA.