ICT Project Management: PRINCE2 Methodology

This assignment delves into the realm of ICT Project Management, focusing on the PRINCE2 methodology. It defines project management and its role, outlines the characteristics and processes of PRINCE2, and compares it to the PMBOK standard, highlighting similarities and differences. Furthermore, the assignment elucidates the relationship between the PRINCE2 methodology and various stages of the project life cycle (initiation, planning, executing, monitoring, and closing).

Running head: PROJECT MANAGEMENT
Topic- ICT Project Management
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
1. Definition of project management and the role served by it in project
management
According to Kerzner (2013), project methodology is mainly defined as a combination of
various logically related methods, practices as well as procedures that are quite helpful in
determining how to plan, develop as well as deliver the activities of the project throughout the
implementation process until successful completion of the project is achieved. On the other hand,
it is stated by Larson and Gray (2013) that project methodology are defined as a set of processes
that are very much advantageous in introducing reliability, flexibility as well as competence of
the entire project work so that the various work procedures of the project can be easily improved.
Additionally project management methodology is intended for promoting the delivery of various
products for meeting the results as well as needs of the customer so that the entire work can be
completed within the assumed time as well as budget.
The project methodology helps in controlling the various management procedures with
the help of effective problem solving as well as decision making technique by ensuring the
success related to specific approaches, procedures, methods as well as techniques. It is identified
that project methodology assists in enabling the delivery companies to tackle different projects
systematically, comprehensively as well as in an integrated manner for different acceptable risks
(Walker, 2015). The project methodology is very much important for providing proper level of
confidence to the senior management, customers as well as partners so that the organization can
easily manage the project successfully. It is stated by Schwalbe (2015) that project
methodologies are considered as one of the key with the help of which the organization can
easily empowers the project team and it is found that it is quite essential for the organization as

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with the help of project methodology, the organization can be able to deliver schedule
compressed as well as cost-effective solutions.
2. Selected methodology: PRINCE2
PRINCE2 is one of the process based methodology that is mainly utilized for managing
the project effectively. It is considered as one of the most popular, respected as well as successful
project methodology which is mainly utilized for improving the success rate of the projects (Mir
& Pinnington, 2014). With the help of PRINCE2 methodology, time is mainly dedicated for
ensuring that the project is properly planned and all the requirements of the project are properly
understood and the various project risks are effectively considered. It is opined by Verzuh (2015)
that PRINCE2 methodology can be tailored to meet the various requirements of the business as
well as project. Moreover, it identified that this methodology helps in addressing change which
can be easily ensured with the help of regular reviews of the project that is mainly undertaken for
reviewing the continued viability of the project quite easily which ensures that a robust change
management procedure mainly exists.
2.1 Similarities between PRINCE2 and PMBOK
The similarities between PRINCE2 and PMBOK include:
1. PMBOK is considered as one of the project management standard whereas PRINCE2
is one of the project management methodologies that are used for completing different types of
project (Turner, 2016). Thus, it is analyzed that the PMBOK processes as well as PRINCE2
methodology are utilized in managing projects.

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2. The PMBOK processes and PRINCE2 methodology of project management plays an
important role in guiding each phases of the project successfully.
3. It is identified that PMBOK processes and PRINCE2 methodology are very much
useful in managing the activities of the project successfully by planning, monitoring, initiating as
well as executing the project successfully (Kerzner, 2017).
2.2 Differences between PRINCE2 and PMBOK
Differences between PRINCE2 and PMBOK are provided below:
Features PMBOK PRINCE2
Characteristics PMBOK guide is quite
descriptive comprehension for
project management tools,
techniques as well as
processes (Schwalbe, 2015).
PINCE2 is one of the
prescriptive approach that is
utilized for the roles as well as
responsibilities of project
stakeholders.
PM standards It is a mainly intended for
encapsulating all the
knowledge associated with
project management
PRINCE2 methodology is
one of the procedures that are
utilized for managing the
project in any private as well
as public sector (Walker,
2015).
Process and activities It mainly comprises of 5
procedures along with
additional 47 processes
It mainly comprises of 7
processes along with 35
activities.

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(Turner, 2016).
3. Relation of PRINCE2 Methodology with project life cycle (PLC)
It is identified that PRINCE 2 project management methodology and PMBOK are mainly
associated with project management life cycle. The project management methodologies are
helpful in giving proper overview about the project strategies which are mainly planned (Mir &
Pinnington, 2014). It is found that planning is one of the most important steps in project life
cycle as it mainly introduces the method of project management. The PLC life cycle mainly
includes number of steps that are elaborated below:
Initiation: In the initiation phase, the project makes proper agreement with the vision of
the organization and proper experienced project manager is hired for managing the work
activities of the project (Kerzner, 2017).
Planning: Appropriate information about the project scope is gathered and all the other
project indicators are generally reviewed for accessing the rises before it creates negative impact
on the project.
Executing: In this phase, proper security plan is developed so that proper quality based
output will be delivered to the customers (Schwalbe, 2015).
Monitoring: The entire project activities are properly controlled as well as monitored so
that the performance of the project can be easily measured.
Closing: All the project related costs as well as deliverables are generally summarized in
this phase of the project life cycle.

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References
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring
and monitoring project performance. John Wiley & Sons.
Larson, E. W., & Gray, C. (2013). Project Management: The Managerial Process with MS
Project. McGraw-Hill.
Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking
project management performance and project success. International journal of project
management, 32(2), 202-217.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Turner, R. (2016). Gower handbook of project management. Routledge.
Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons.
Walker, A. (2015). Project management in construction. John Wiley & Sons.