ICT Project Management Report: PRINCE2, PMBOK, and Project Life Cycle

This report delves into the realm of ICT project management, offering a comparative analysis of two prominent methodologies: PRINCE2 and PMBOK. The report begins by defining project methodology and its significance in ensuring successful project delivery, cost-effectiveness, and risk mitigation. It then proceeds to compare and contrast PRINCE2 and PMBOK, highlighting their similarities in providing solutions for project management approaches and risk identification, while also pointing out their differences in terms of complexity, control, and the role of the project manager. Furthermore, the report explores the application of PRINCE2 within the project life cycle, detailing how it aligns with the phases of project initiation, planning, execution, and closure. The report underscores the adaptability of PRINCE2 across various project types and its emphasis on project tracking and control. The report concludes by summarizing the key aspects of both methodologies and their practical applications in ICT project management.

Running head: ICT PROJECT MANAGEMENT
ICT project management
Name of the Student
Name of the University
Author Note

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Table of Contents
1. Definition of Project Methodology..................................................................................2
2. PRINCE2 and PMBOK...................................................................................................2
2.1. Similarities between PRINCE2 and PMBOK..........................................................3
2.2. Dissimilarities between PRINCE2 and PMBOK.....................................................4
3. PRINCE2 in Project Management Life Cycle (PLC)......................................................5
References............................................................................................................................7

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1. Definition of Project Methodology
Project methodology is described as standard model used by the project managers for
implementing a project in a planned approach. Project managers employ a particular project
management methodology in order to design, plan and implement a project. It can therefore, be
considered as a standard of defining the different process, procedures and techniques for
implementing the project (Špundak, 2014). Use of a proper project methodology in a project
ensures that the project is successfully delivered at the end of its implementation. It also ensures
that the project is delivered inexpensively (Leau et al., 2012). According to Kerzner & Kerzner,
(2017), the project management methodology helps in identifying the different project risks,
elimination of which from the project ensures project success to quite an extent. Apart from this,
the project methodology mainly deals with the application of different project management skills
required for successful implementation of a project (Schwalbe, 2015). Therefore, it can be said
that the project methodology plays an integral role in implementation of a project. There are
different types of project methodologies, which are PRINCE2, waterfall model, agile scrum and
agile XP.
2. PRINCE2 and PMBOK
PMBOK is a standard that provides proper guidelines, rules and characteristics of a
project and is an integral part of project management. PMBOK provides knowledge about the
different project management tools and techniques that helps in proper implementation of a
project. PMBOK is therefore a guide to project management (Snyder, 2014). There are five
process groups of project management, which includes Initiation, planning, execution,
monitoring and project closing.

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Figure 1: Representing the five process groups of PMBOK
(Source: Snyder, 2014)
PRINCE2 is a project management methodology that makes the implementation process
of the project even easier. Therefore, it is one widely used project management methodologies.
This project management methodology is flexible enough to be implemented by less experienced
project managers as well.
2.1. Similarities between PRINCE2 and PMBOK
The similarities between PMBOK and PRINCE2 are as follows-
1. PMBOK and PRINCE2 provide effective solution for the different project
management approaches that is implemented for successful project implementation. Both the
standard and the methodology are globally accepted and are implemented in different projects
across the project management and construction industry. PMBOK provides a detailed
knowledge about the various project management skills required for project implementation.

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PRINCE2 methodology divides the project into certain controllable units that makes the process
of project implementation easier.
2. Both PRINCE2 and PMBOK help in identification and elimination of project risks
thereby making it easier to successfully execute the project. Risk identification is an integral part
of the PRINCE2 methodology as the entire project is separated on basis of certain controllable
units for easier management and risk mitigation (Tomanek & Juricek, 2015). PMBOK ensures
all the project risks are mitigated before implementation of the project and it is difficult to
control the project after it is implemented.
2.2. Dissimilarities between PRINCE2 and PMBOK
The dissimilarities of PRINCE2 and PMBOK are as follows-
1. The major difference between PRINCE2 and PMBOK is that PMBOK is a project
management standard while PRINCE2 is a project management methodology that is used for
proper project implementation.
2. PMBOK is comparatively more complex to understand or implement in comparison to
the PRINCE2 approach of project management. Years of experience are essential for properly
implementing PMBOK in project, while PRINCE2 is comparatively easier to implement.
PRINCE2 furthermore is easily understandable and executable in comparison with the PMBOK
approach.
3. PRINCE2 divides a particular project into certain manageable units of project, which
makes it easier to control the project even in its execution stage. It is however, very difficult to

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control a project in PMBOK approach, and therefore, PRINCE2 is easier to implement (Matos &
Lopes, 2013).
4. There is a striking difference between the project manager’s role in PMBOK and
PRINCE2 approach. The project manager in PMBOK approach is a central decision-maker of a
project, while in PRINCE2 approach; the project manager does not hold that much importance.
5. The PRINCE2 method is process oriented while that of PMBOK is knowledge
oriented. This is a major difference between PMBOK and PRINCE2. The PRINCE2 approach is
generally driven by the business case while PMBOK is driven by the project plan developed for
a particular project.
3. PRINCE2 in Project Life Cycle (PLC)
The project life cycle consists of four phases that gives a detailed overview of the project
implementation process. The different phases of project management include project initiation,
project planning, project execution and project closure. The project life cycle defines a particular
standard for project implementation, following which ensures successful completion of a project.
PRINCE2 project methodology is a process based approach that divides a project into a
number of controllable units that provides better project tracking and project control. PRINCE2
relates to the project management life cycle as in PRINCE2 as well, the project is segregated into
a number of functional phases namely, Project start, project initiation, project direction, project
control, managing the project and project closing (Karaman & Kurt, 2015). Proper
implementation of the all the project phases is essential for ensuring a project success. PRINCE2
project methodology is applicable to all types of projects and the project team member ensures

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that the project is executed according to the plan. The PRINCE2 approach ensures that the
project is thoroughly tracked in order to check whether it is implemented according to the plan.

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References
Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince
2 versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering
Research, 4(5), 657-664
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Leau, Y. B., Loo, W. K., Tham, W. Y., & Tan, S. F. (2012). Software development life cycle
AGILE vs traditional approaches. In International Conference on Information and
Network Technology (Vol. 37, No. 1, pp. 162-167).
Matos, S., & Lopes, E. (2013). Prince2 or PMBOK–a question of choice. Procedia
Technology, 9, 787-794
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK (®)
guide. Project Management Institute: Newtown Square, PA, USA.
Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK (®)
guide. Project Management Institute: Newtown Square, PA, USA.
Špundak, M. (2014). Mixed agile/traditional project management methodology–reality or
illusion?. Procedia-Social and Behavioral Sciences, 119, 939-948.
Tomanek, M., & Juricek, J. (2015). Project risk management model based on PRINCE2 and
SCRUM frameworks. arXiv preprint arXiv:1502.03595.