A Review of Methodologies of Project Management: PMBOK and Prince2

This essay provides an overview of various project management methodologies, focusing on PMBOK, Prince2, SDLC, Waterfall Model, and Agile. It highlights the importance of selecting the right methodology based on the project's scope and type. A comparative analysis between PMBOK and Prince2 is presented, outlining their key differences in terms of descriptiveness, life cycle stages, and risk management strategies. The essay concludes that a proper methodology is crucial for project success, emphasizing the need for employees to have a thorough understanding of the chosen methodology for effective implementation. Desklib offers more resources for students.

Running head: METHODOLOGIES OF PROJECT MANAGEMENT
Methodologies of Project Management
Name of the Student:
Name of the University:
Author Note:

1METHODOLOGIES OF PROJECT MANAGEMENT
Introduction
The set of rules and regulations that are responsible for the development and the
conduction of a proper project in the best possible way is called as the project management
methodologies. The critical success factor of the project depends on the fact that which
project methodology is selected for the project. The selection of the right methodology
depends on the scope of the project, type of the project and the decision of the project
manager (Snyder & Dionisio, 2017). It has to be made sure right methodology is selected
according to the project before actually starting the project else can have a disastrous effect
on the results of the project.
Discussions:
The project management methodology’s that are most common and have some of best
known techniques that can have some of the major effects in the project are described in the
paper. The implementation ensures that the best project is delivered to the client without any
error and in given duration of time.
The various kinds of the project management methodologies are:
 Pmbok: The PMBOK which is the full form of Project Management Body of
Knowledge contains the details about various stages responsible for maintaining the
aspects of the project cycle (Saltz, Heckman & Shamshurin, 2017).. The PMBOK
cannot be called as a standard guideline of project methodologies, rather it explains
the monitoring and the controlling of a project. This is one of the best known
methodology for any project may be software project or a construction project.
 Prince2: The Prince2 can be defined as the project environment control. The initiation
of this project was done by the government of the United Kingdom and is one of the

2METHODOLOGIES OF PROJECT MANAGEMENT
most used methodology. The Prince2 project management methodology have 7sets of
rules that has to be followed while doing a project. The basic advantage of this project
is the perspective nature of the project which makes it one of the simplest one.
 SDLC: The SDLC stands for Software Development Life cycle and is primarily used
for the projects that are related to the software (Dybå, Dingsøyr & Moe,2014).. This
methodology contains 6steps of project life cycle including the testing and the
designing of a project. This methodology is best for very long software projects
 Waterfall Model: The waterfall model can be called as a subpart or example of the
SDLC methodology. This model is simplest in the process of implementation and the
best for e small software developments. But the major problem is process is that once
stated there is no way to go back in the previous stage. This is like a water fall as like
water fall once the water comes down there is not any way to back up, similarly once
the project is started it cannot be taken down.
 Agile: This is the second most used form of the project management methodology
after the PMBOK. This is one of the best used methodology because of its simple
flexibility nature (Uhl & Gollenia,2016). Thus making the process of the project
management very much simple. It is always recommended to select this process as
changes can be made in any phase of the project making it very simple.
In order to compare different project management methodologies the selected methodologies
are the PMBok and the Prince2. These are selected because of the fact that these are similar
in nature and can be used in any type of project.
PMBok PRINCE2
The descriptiveness of this model makes it
one of the best methodology.
In comparison to this the Prince2 is
perspective is nature and can be simply

3METHODOLOGIES OF PROJECT MANAGEMENT
implemented
PMBok cannot be called as a methodology
but rather can be called as a set of rules and
regulations made by the Project
management body.
The Price 2 model clearly defines the
project life cycle in 7 different stages.3
There are 5stages of development that is it is
having a life cycle of
Project Initiation
Project Planning
Project Execution
Project Monitoring and Control
Project Closure
These steps design the project life cycle.
These steps must be properly followed in
order to make a project work properly.
There are 7stages development that is
having a longer life cycle than the PMBok
these are Directing, Managing, and
Delivering. These includes pre project
planning, initiating stage, subsequent
delivery stages and the final delivery stage.
The delivery stages consist of the
Controlling stage.
Depends on quality management plan Depends on quality management strategy
Describes the risk management plan Describes the risk management strategy

4METHODOLOGIES OF PROJECT MANAGEMENT
Conclusion
Thus concluding the topic it can be said that a proper project management
methodology must be selected in order to make it complete in a given duration of time and in
the best quality available. Further while choosing the methodology it have to make sure that
the methodology have to choose according to the plan of the project and hence have to be
done very preciously. All the employees must have a proper knowledge of the project that
have been chosen and follow each step of the methodology for proper implementation of the
plan.

5METHODOLOGIES OF PROJECT MANAGEMENT
References
Dybå, T., Dingsøyr, T., & Moe, N. B. (2014). Agile project management. In Software project
management in a changing world (pp. 277-300). Springer, Berlin, Heidelberg.
Saltz, J., Heckman, R., & Shamshurin, I. (2017). EXPLORING HOW DIFFERENT
PROJECT MANAGEMENT METHODOLOGIES IMPACT DATA SCIENCE
STUDENTS.
Snyder, C., & Dionisio, C. S. (2017). A project manager's book of forms: A companion to the
PMBOK guide. John Wiley & Sons.
Uhl, A., & Gollenia, L. A. (Eds.). (2016). Business transformation management
methodology. Routledge.