Project Duration Estimation: PMBoK, APMBoK, PRINCE Methodology Report

This report provides a comprehensive analysis of project duration estimation, focusing on three key methodologies: PMBoK, APMBoK, and PRINCE. The introduction emphasizes the importance of timely project completion and the use of strategic planning. The main body delves into each methodology, explaining their core principles, processes, and applications. PMBoK is presented as a standardized approach, detailing its stages from initiation to monitoring and controlling. APMBoK is highlighted as a foundational resource, emphasizing the importance of skills and knowledge in project management. The PRINCE methodology is then explored, outlining its principles, including continuous business justification and managing by exception, along with its project stages from starting up to closing a project. The report concludes by summarizing the significance of these methodologies in ensuring project success, emphasizing the role of effective project management in achieving goals within defined timeframes and budgets. The reference section includes books and online resources used in the report's preparation.

Approaches to
estimating the
duration of a
project

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION ...............................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
A project is explained as sequence of task and activities which is require to be complete
on time. This is important for each person to understand the particular project and put their
efforts to complete it timely. If a project is not properly managed then it will be considered as
completion of objectives (Bilal and et.al., 2019). Every person should have strategic plan which
can be used to accomplish the goals effectively. The report is based on estimating the duration of
project and the profitability that will finish by particular date. This involves PMBoK APMBoK
and Prince methodology to estimate the duration of project.
MAIN BODY
Managing project duration is consider as part of the process of developing and following
a project management plan. By planning the project duration and using time management
technique, and strategies which can help to complete the project timely. The management are
using project time tracking software which is effective tool to know the time period and monitor
the time that can help to complete project (Moradi and Shadrokh, 2019). The approaches which
are used to estimating the duration of project is explained below:
PMBoK – This can be defined as project management body of knowledge, and it is the
entire collection of processes, terminologies, best practices, and guidelines that are accepted as
standard in the project management industry. This methodology is mainly used to estimate the
time period of specific project and complete it. This considered as valuable for companies as it
helps them standardize practice between different department. In other words, an instruction
book that included supports to estimate the timing period of particular project and manage it.
This involves following steps:
Project Initiating: This means starting of project wherein goals are decided at broad
level. In this stage, project management create the project charter and manage the task (Antoine,
Alleman and Molenaar, 2019).
Planning: This phase mainly used in beginning with goals where management is
responsible to set the SMART Goals and formulate the effective planning that can help to
complete the project timely. This planning encourage employees to work together (Stages of
PMBoK approach. 2021).
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Execution: This step is used to delivery and completing the project timely. In this,
management is require to focus on developing team, execute project management plan, assigning
resources, set up tracking system, updating project schedule and others that influences the
customers.
Monitoring & controlling: This is all about measuring and controlling the project that
ensures all activities have done properly. Project management in relation to any project should
be use key performance indicator that can help to track and measure the particular project. In this
management evaluate that each task is done at set budget and increase the performance (Huda,
Soepriyono and Azizah, 2019).
APMBoK – This can be defined as fundamental resource book for the UK's association
in managing any assigned project. APM Body of knowledge has provided an authoritative
statement on project management and involves foundation on which profession is built. This
involves as fixed period in which task is require to be complete. According to this methodology a
person should have proper knowledge and skills which can be use to develop the business
performance by completing the goals and managing talent at the workplace. This is
recommended to project management use the APMBoK where it plays a role different from
individual can be used to manage the good performance. By using this, management can estimate
the time of project in which it require to be complete (Ika, Söderlund, Munro and Landoni,
2020).
Prince Methodology – This explained as project management and estimating
methodology which is adopted around the world, used by people and company for developing
the business activities. This tailored as meeting with specific requirements. This comprises four
element principles, themes, processes and the project environment. This is based on following
principles such as:
Continuous business justification: A project management is require to justify a reason
to be run and managing the project. If not justified, then project should be closed (Umemneku
Chikere and et.al., 2019).
Learn from experience: PRINCE method state the team member who involved in a
project should always be ready to learn from their previous work. This can help to increase the
learning skills.
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Define roles and responsibilities: The project team is require to have clear organization
structure and need to involve right people at the right task.
Manage by exception: The people who involved in particular project should given right
amount of authority that can help to maintain effective working environment.
Focus on products: This principle is used focus on product definition, delivery, and
quality requirements that supports to complete the project.
The process of PRINCE methodology in relation to estimating project defined below:
Illustration 1: Managing project timing, 2021
Source: Managing project timing, 2021
 Starting up a project: This stage is used to decide the goals and particular assignment that
needs to complete.
 Directing a project: The project management is responsible for directing their team and
getting the work done effectively.
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 Initiating a project: This stage is used to working or start work on particular project that
can help to accomplish the task.
 Controlling a stage: Herein, management is responsible for measuring and controlling the
project.
 Managing product delivery: This stage is used to managing delivery of particular product
and services (About PRINCE approach, 2021).
 Managing stage boundaries: This stage is used to setting and managing the boundaries by
setting budget and working accordingly.
 Closing a project: Herein, a project is completely closed by managing each task and
activity that can help to attain the goals.
CONCLUSION
Project duration refers as total sum of working periods that characterize the time length of
project work and make efforts to complete it properly. PMBoK, APMBoK, and Prince
Methodology defined as important methodology to estimate time and complete the particular
project timely. A project management plays important role who decide goals and allocate the
work between team members and guide them to complete the task in decided time and budget
effectively.
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REFERENCE
Books and Journal
Bilal, M., and et.al., 2019. Investigating profitability performance of construction projects using
big data: A project analytics approach. Journal of Building Engineering. 26. p.100850.
Moradi, H. and Shadrokh, S., 2019. A robust scheduling for the multi-mode project scheduling
problem with a given deadline under uncertainty of activity duration. International
Journal of Production Research. 57(10). pp.3138-3167.
Antoine, A. L., Alleman, D. and Molenaar, K. R., 2019. Examination of project duration, project
intensity, and timing of cost certainty in highway project delivery methods. Journal of
Management in Engineering. 35(1). p.04018049.
Huda, M., Soepriyono, S. and Azizah, S., 2019, November. IMPLEMENTATION OF PMBOK 5
TH STANDARD TO IMPROVE THE PERFORMANCE AND COMPETITIVENESS
OF CONTRACTOR COMPANIES. In ICASI 2019: Proceedings of The 2nd
International Conference On Advance And Scientific Innovation, ICASI 2019, 18 July,
Banda Aceh, Indonesia (p. 242). European Alliance for Innovation.
Ika, L. A., Söderlund, J., Munro, L. T. and Landoni, P., 2020. Cross-learning between project
management and international development: Analysis and research
agenda. International Journal of Project Management. 38(8). pp.548-558.
Umemneku Chikere, C. M., and et.al., 2019. Diagnostic test evaluation methodology: A
systematic review of methods employed to evaluate diagnostic tests in the absence of
gold standard–An update. PLoS One. 14(10). p.e0223832.
Online
Stages of PMBoK approach. 2021. [Online]. Available Through:
<https://www.smartsheet.com/blog/demystifying-5-phases-project-management>
About PRINCE approach. 2021. [Online]. Available Through:
<https://www.axelos.com/best-practice-solutions/prince2/what-is-prince2>
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