Project Management Methodologies: PRINCE2, Waterfall, and Lifecycle

This report defines project methodology and its role in project management, focusing on comparing and contrasting the PRINCE2 and Waterfall methodologies. It analyzes the similarities and differences between these two approaches, highlighting their respective strengths and weaknesses. The report further examines how both PRINCE2 and Waterfall relate to the project life cycle (PLC), detailing the various phases and processes involved in each methodology's implementation. It explains how PRINCE2's structured approach and Waterfall's sequential design process align with different stages of a project, providing a comprehensive understanding of their application in real-world scenarios. Desklib is a great platform to find solved assignments and study resources for students.

Running head: ICT PROJECT MANAGEMENT
ICT Project Management
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Table of Contents
Task 1.........................................................................................................................................2
Task 2.........................................................................................................................................3
Task 3.........................................................................................................................................5
References..................................................................................................................................7

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Task 1
Definition of Project Methodology and Role of Methodology in Project Management
Project methodology can be defined as the system of several rules, procedures,
techniques and practices that are being utilized by project managers in a project. A project
methodology is responsible for providing effective and efficient methods, which can simplify
the overall realization business advantages and then organize the entire work in a unique and
structured entity (Kerzner & Kerzner, 2017). Collaboration and communication are the major
criteria to establish productive work relationship within teams or departments in the
respective organization. A project methodology is a road set of principles as well as rules for
the effective management of project, which has a definite starting point and ending point.
Project methodology plays a significant role in project management. It helps the
project manager for determining how best planning, development, controlling and finally
delivering a project throughout the continuous deployment procedure until and unless there is
a successful completion and termination. Since, it is scientifically proven, the entire project
management process is being controlled properly with effective decision making as well as
problem solving (Nicholas & Steyn, 2017). Hence, it helps in ensuring the success of
specified technologies and methodologies of the project. The requirement of the stakeholders
is being defined and hence cost estimation can be done in an accurate and credible manner.
The entire PM framework focuses on desired changes with a selected methodological
approach.

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Task 2
Comparison and Contrast of PRINCE2 and Waterfall Methodologies after Analysis of
Similarities and Differences
PRINCE2 and Waterfall project management methodologies are extremely important
and significant to execute several projects. PRINCE2 or Projects in Controlled Environments
is the structured project management methodology and certification program. It majorly
emphasizes on dividing of projects into few controllable and manageable stages. This
particular project management methodology comprises of six significant aspects, which are
also termed as performance goals (Hinde, 2018). These six aspects are scope, timescale, risk,
quality, benefits and cost and they quantify the project tolerance and are being considered
during the processes of decision making. The seven principles of PRINCE2 majorly involve
continued business justifications, learning from experiences, definite roles and
responsibilities, management by stages, management by exceptions, focusing on products and
finally tailoring for suiting to project environment.
Waterfall on the other hand, is a traditional project management methodology that
provides a proper sequential approach during project execution. It is even termed as a linear
sequential lifecycle model. This waterfall model follows a downwards direction through
different phases of requirements analysis, designing, construction, testing, proper
implementation and finally maintenance (Kumar, Zadgaonkar & Shukla, 2013). This
particular model was started using in construction industries, mainly because of the highly
structured physical environments. Due to its simple structure, it becomes quite easier to
handle and utilize in any project.
The major difference between PRINCE2 and waterfall model is that waterfall is a
structured software development methodology and hence often turns into rigid. However,

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PRINCE2 is well known for its flexibility. The second difference is that in PRINCE2, the
products are delivered at every stage of the project, however in waterfall, products can only
be provided at the end. Quality of products is the main focus in PRINCE2, whereas work
efficiency is the main focus in waterfall. The similarity between these two project
management methodologies is that both of them are traditional approaches in project
management.

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Task 3
Relation of PRINCE2 and Waterfall Methodologies to Project Life Cycle
PRINCE2 methodology can be easily related to the PLC or project life cycle. The
entire process of PRINCE2 comprises of few tasks that are being structured for attaining
significant objectives so that a project is being delivered successfully. These tasks are the
crucial elements of an effective management as well as direction of project.
Figure 1: Phases of PRINCE2 in Project Life Cycle
(Source: Barker, 2013)
The above given diagram clearly demonstrates that there are seven interconnected
processes of PRINCE2 in the project life cycle, which are starting of a project, initiation of a
project, direction, controlling of stages, management of stage boundary, management of
product delivery and finally closing of a project.
Waterfall model is a sequential design process, where project progress is being
observed as flowing steadily downwards. Within a project life cycle, Waterfall model allows

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better control and departmentalization of project. The progresses of waterfall model can be
easily and promptly understandable as well as explainable and here phases are being
processed as well as completed sequentialy and do not overlap under any circumstance.
Waterfall models works best for smaller project life cycle as requirements are well
understood in such projects.
Figure 2: Phases of Waterfall Model in Project Life Cycle
(Source: Adenowo & Adenowo, 2013)
The above provided diagram depicts about the seven phases of waterfall model, which
involve requirements, analysis, designing, implementation, testing, deployment and finally
maintenance. The entire PLC is completed after execution of each of the above mentioned
steps.

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References
Adenowo, A. A., & Adenowo, B. A. (2013). Software Engineering Methodologies: A Review
of the Waterfall Model and Object-Oriented Approach. International Journal of
Scientific & Engineering Research, 4(7), 427-434.
Barker, S. (2013). Brilliant PRINCE2: What you really need to know about PRINCE2.
Pearson UK.
Hinde, D. (2018). PRINCE2 Study Guide: 2017 Update. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kumar, N., Zadgaonkar, A. S., & Shukla, A. (2013). Evolving a new software development
life cycle model SDLC-2013 with client satisfaction. International Journal of Soft
Computing and Engineering (IJSCE), 3(1), 2231-2307.
Nicholas, J. M., & Steyn, H. (2017). Project management for engineering, business and
technology. Routledge.