Project Management Methodology: PRINCE2, Scrum, Agile, Spiral, and Lean

Victorian Institute of Technology Pty Ltd
ABN: 41 085 128 525 RTO No: 20829 TEQSA ID: PRV14007 CRICOS Provider
Code: 02044E
Project management: Project management
methodology
Name of the Student
Name of the University
Semester 1 – 2015 Unit Name Page 1 of 8

Victorian Institute of Technology Pty Ltd
ABN: 41 085 128 525 RTO No: 20829 TEQSA ID: PRV14007 CRICOS Provider
Code: 02044E
Table of Contents
1. Introduction.................................................................................................................... 3
2. Project management methodologies.............................................................................. 3
2.1 PRINCE2.................................................................................................................... 3
2.2 Scrum........................................................................................................................ 3
2.3 Agile.......................................................................................................................... 4
2.4 Spiral method............................................................................................................ 4
2.5 Lean method............................................................................................................. 5
3. Description of selecting PRINCE2 in comparison to other methodologies......................5
4. Conclusion...................................................................................................................... 6
Bibliography....................................................................................................................... 7
Semester 1 – 2015 Unit Name Page 2 of 8

Victorian Institute of Technology Pty Ltd
ABN: 41 085 128 525 RTO No: 20829 TEQSA ID: PRV14007 CRICOS Provider
Code: 02044E
1. Introduction
The paper mainly reflects on different types of project management methodology.
According to Sanjuan and Froese (2015), a project methodology is defined as one of the
models that is utilized by a project manager for employing project design, planning,
implementation of the project objectives. It is found that there are a lot of project
methodologies which are used as per the project characteristics. In this paper, different
types of PM methodologies including PRINCE2, SCRUM, Lean, agile as well as spiral
methodologies are elaborated. Additionally, the project analyzes the important PM
methodology for managing different types of projects.
2. Project management methodologies
2.1 PRINCE2
PRINCE2 is considered as one of the acronyms for projects in controlled environment.
It is defined as one of the process related method that are helpful in managing the entire
project quite successfully. The different types of key features of PRINCE2 mainly focuses on
the business justification that further defines the structure of an organization for the entire
team of the project that generally utilizes product-based approach (Murillo, Gomez and
Jimenez, 2018). PRINCE2 helps in providing proper control over the different resources of
the project and excels at properly managing the business as well as project related risks
quite effectively. It is stated by Oliveira, Tereso and Santos (2019) that PRINCE2
methodology generally helps in breaking the project into a number of stages such that it
can be monitored closely with the help of step by step method from the starting of the
project. This further helps in decreasing the chances of project related spiralling out of
control and further revise it in order to keep the entire project on track.
According to Mousaei and Javdani (2018), the PRINCE2 methodology is considered as
one of the methodologies that helps in standardizing different aspects of the project for
ensuring that there is no chances of misdirection or miscommunication within the project. It
is found that a standardized document helps in guaranteeing everyone who are mainly
involved within the project. In addition to this, PRINCE2 methodology are also helpful in
controlling the different stages of the project. The various activities that are included within
the process generally includes proper authorization of the work package with the project
team as well as reviewing of the project status. One must need to review as well as
compare the progress of the project plan such that the issues as well as risks that are
associated with the project can be able to resolve the problems. On the other hand, it is
opined by Vanickova (2017) that when something gets changes within PRINCE2 project
then it would take proper time for the entire project so that they can adapt within the entire
process that is found to be cumbersome with different types of documentation that is
required to be amended effectively.
2.2 Scrum
According to Vogelzang, Admiraal and van Driel (2019), Scrum is one of the agile
procedures that is helpful in managing complex knowledge related work with proper
emphasis on the software development. This PM methodology helps in allowing one to
effectively focus on the business value delivery in a very much shortest time. It further
helps in emphasizing accountability, interactive progress as well as teamwork. In addition
to this, it is found that the Scrum framework generally deals with a number of facts that the
project requirements can likely to change or it is not clear at the initiation of the project. It
is stated by Mollahoseini Ardakani et al. (2018) that the print helps in allowing proper
development such that it further helps in saleable product within the project. This type of
delivery system is helpful in shortening the time for marketing such that it further helps in
increasing revenue such that the completed backlog generally helps in representing new
release of the product. Moreover, proper review of each of the sprint helps in ensuring that
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