ITC Project Management: Comparing PRINCE2 and PMBOK Methodologies

This report delves into the realm of ITC project management, providing a comprehensive overview of methodologies and their application. It begins by defining methodology and its crucial role in project management, emphasizing the systematic analysis of methods applicable to various fields. The report then undertakes a detailed comparison and contrast between the PRINCE2 and PMBOK methodologies, highlighting their differences in origin, perspective, and structure. Furthermore, it explores the practical application of both PRINCE2 and PMBOK within the project life cycle (PLC), outlining the distinct stages and phases involved in each methodology. The report concludes by providing references to support the information presented.

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

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Table of Contents
1. Definition of Methodology and its Role in Project Management..........................................2
2. Compare and Contrast between PRINCE2 and PMBOK......................................................2
3. PRINCE2 and PMBOK in Project Life Cycle.......................................................................3
References..................................................................................................................................5

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1. Definition of Methodology and its Role in Project Management
The systematic as well as theoretical analysis of the various methods, which could be
easily applied to any particular field, is known as methodology. The methodology majorly
consists of the theoretical analysis with proper details of the various principles and methods,
which are completely associated with any knowledge branch (Turner, 2014). This
methodology even is responsible for encompassing the several concepts like the paradigms,
quantitative techniques, qualitative techniques, phases and few theoretical models.
Methodology plays one of the most important roles in project management. The
methodology of project management is the significant combination of various processes,
practices and logical methods (Fleming & Koppelman, 2016). This helps in determining the
vital process of development, control and delivery of the project by means of a process of
implementation. The decision making and problem solving are done with the help of project
management methodology. A framework is selected for planning and delivering all types of
projects. The chosen methodological approaches help to bring out the required changes
within the project management framework. The most important and significant change is
required that is completed in terms of time, quality and cost (Burke, 2013). The change that
takes place in project management is systematic in nature. The two major methodology types
within project management are modern approach and traditional approach.
2. Compare and Contrast between PRINCE2 and PMBOK
The contrast and comparison of PRINCE2 and PMBOK methodologies is as follows:
i) The methodology of PRINCE2 was eventually released by UK government and this
methodology is completely based on the previous versions of PRINCE or Projects in
Controlled Environments.

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PMBOK or Project Management Body of Knowledge helps to document the
important sets of knowledge, guidelines and standard terminology to perfectly manage the
project (Walker, 2015). This PMBOK even describes the several processes of project
management standards.
ii) PRINCE2 is termed as perspective and PMBOK is termed as descriptive. The
Project Management Body of Knowledge consists of various techniques, tools and
procedures. The guide of PMBOK does not even explain the effectiveness, efficiency and
usefulness of outputs (Heagney, 2016). The methodology of PRINCE2, on the other hand,
explains the effectiveness, efficiency and usefulness of process outputs and thus it helps to
mention the person recording these outputs.
iii) PRINCE2 consists of four integrated components that are themes, principles
tailoring and processes of project environment requirements.
The structures of PMBOK provide 47 different processes, which could be sub divided
into 5 categories, known as the process groups.
The above mentioned features clearly demonstrate the comparison and contrast
between PMBOK and PRINCE2 methodologies (Fleming & Koppelman, 2016).
3. PRINCE2 and PMBOK in Project Life Cycle
The methodology of PRINCE2 in PLC or project life cycle consists of six important
stages. They are given below:
i) Direction: Project direction is the first phase of this methodology.
ii) Starting: The phase of starting is the pre project phase, which is helpful to ensure
that all the pre requisites of the project are ready for starting (Burke, 2013).

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iii) Initiation: This is the third phase, where the project starts eventually.
iv) Management of Stage Boundaries: Here, all the stage boundaries are well
managed by the project managers.
v) Controlling: Project control is important and it is done in this phase.
vi) Closing: The final phase is project closing (Turner, 2014).
The PMBOK methodology comprises of five phases in PLC. They are given below:
i) Initiation: This is the first phase and here the project is started eventually.
ii) Planning: This is the second phase and planning is done properly.
iii) Execution: Project execution is done in this phase.
iv) Controlling: Project controlling is done in this particular phase (Walker, 2015).
v) Closing: Project closing is done in the project.

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References
Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management.
Project Management Institute.
Heagney, J. (2016). Fundamentals of project management. Amacom.
Turner, J. R. (2014). Handbook of project-based management(Vol. 92). New York, NY:
McGraw-hill.
Walker, A. (2015). Project management in construction. John Wiley & Sons.