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ICT Project Management: PRINCE2 Methodology

   

Added on  2020-05-11

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Running head: PROJECT MANAGEMENTTopic- ICT Project ManagementName of the StudentName of the UniversityAuthor’s Note
ICT Project Management: PRINCE2 Methodology_1

1PROJECT MANAGEMENT 1. Definition of project management and the role served by it in projectmanagement According to Kerzner (2013), project methodology is mainly defined as a combination ofvarious logically related methods, practices as well as procedures that are quite helpful indetermining how to plan, develop as well as deliver the activities of the project throughout theimplementation 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 processesthat are very much advantageous in introducing reliability, flexibility as well as competence ofthe 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 variousproducts for meeting the results as well as needs of the customer so that the entire work can becompleted within the assumed time as well as budget. The project methodology helps in controlling the various management procedures withthe help of effective problem solving as well as decision making technique by ensuring thesuccess related to specific approaches, procedures, methods as well as techniques. It is identifiedthat project methodology assists in enabling the delivery companies to tackle different projectssystematically, 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 ofconfidence to the senior management, customers as well as partners so that the organization caneasily manage the project successfully. It is stated by Schwalbe (2015) that projectmethodologies are considered as one of the key with the help of which the organization caneasily empowers the project team and it is found that it is quite essential for the organization as
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2PROJECT MANAGEMENTwith the help of project methodology, the organization can be able to deliver schedulecompressed as well as cost-effective solutions.2. Selected methodology: PRINCE2 PRINCE2 is one of the process based methodology that is mainly utilized for managingthe project effectively. It is considered as one of the most popular, respected as well as successfulproject 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 forensuring that the project is properly planned and all the requirements of the project are properlyunderstood 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 aswell as project. Moreover, it identified that this methodology helps in addressing change whichcan be easily ensured with the help of regular reviews of the project that is mainly undertaken forreviewing the continued viability of the project quite easily which ensures that a robust changemanagement procedure mainly exists.2.1 Similarities between PRINCE2 and PMBOKThe similarities between PRINCE2 and PMBOK include:1. PMBOK is considered as one of the project management standard whereas PRINCE2is one of the project management methodologies that are used for completing different types ofproject (Turner, 2016). Thus, it is analyzed that the PMBOK processes as well as PRINCE2methodology are utilized in managing projects.
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