Project Management Methodologies: Business Application Analysis

This project management assignment delves into the intricacies of project management methodologies, offering a comparative analysis of Waterfall, Agile, and PRINCE2. It begins with an introduction to project management methodologies, highlighting their role in organizational success by streamlining operations and fostering collaboration. The assignment then explores the core factors influencing project management: scope, time, and cost. It continues by examining the advantages, disadvantages, and ideal applications of each methodology. The project specifically focuses on applying these methodologies to three different business organizations (A, B, and C), each with distinct characteristics, recommending the most suitable approach for each. For Organization A, a small business, Waterfall methodology is proposed, while PRINCE2 is recommended for Organization B, a medium-sized enterprise. Finally, Agile methodology is suggested for Organization C, the largest of the three, emphasizing its suitability for technological improvements. The assignment includes implementation plans and addresses potential challenges and benefits associated with each methodology, offering a comprehensive guide for project management decisions.

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PROJECT MANAGEMENT METHODOLOGIES
INTRODUCTION
Project management methodologies are the approaches that a business management unit may
take to control, direct, organize and plan all the operations or activities of the organization. These
approaches help the management team to specify the best, most effective and efficient way to
initiate, plan and execute certain specific organizational operations (Baptista et al, 2016). Project
management process is entirely rules by three main interdependent factors which are: the scope
of the project, the time period scheduled to successfully complete the project and lastly costs of
the project which include the costs of all the resources to be involved (Papke-Shields et al, 2017).
The methodologies help employees or team member to be more efficient and more collaborative.
This is simply because every member will have an idea of what is to be done when, where and
by who. Well, it has been proven that most team projects as well as business organizations have
become very successful after the use of project management methodologies to track and organize
their organizational activities (Too and Weaver, 2014). In that case, there is a good number of
project management methodologies that have been devised by business analysts and researchers.
The common of them all include the following: Agile, waterfall or traditional, Critical Perth,
PERT method, Scrum, Six Sigma, Critical chain, Prince2 among others. These are commonly
used and very popular among many business organizations. In addition to that, these
methodologies have proved to be effective and efficient in ensuring business continuity and
success. In this assignment I will discuss four of the best methodologies that I think are suitable
for the three business organization. However, I will choose the most suitable, effective and
efficient methodology for each business according to its needs.
TYPES OF PROJECT MANAGEMENT METHODOLOGY
Waterfall/Traditional Methodology
It is the simplest of all methodologies. It handles the project’s activities sequentially. This means
that an activity can be done only if the preceding one is completed, i.e. stage by stage. This
method requires that before the start of any project, all the requirements are listed and defined.
Also, it requires that no changes should be made to the project end result or execution process
during this period of defining the requirements (Špundak, 2014). In this methodology, the project

team members are not allowed to go back to any management stage after the stage is completed.
This means that in each stage, the members should ensure complete and thorough (100%
successful) work is done before going to the next stage. In other words, the members should
ensure that no room for error or change during the planning process which has to be followed to
the letter.
Advantages
 It is simple and easy to understand
 Easy to manage
 No activity overlaps
 Excellent record keeping for future use
 It is able to show a clear picture of the final project result
Disadvantages
 No room for change once a stage is complete
 It is a very risky and uncertain method
 Relies heavily on the requirements made in the beginning
 Product testing can be done only at the end of the process
 A lot of uncertainty especially for the project team members
When to use Waterfall Methodology
 When the client is sure about what they want. Has clear and fixed specifications and
characteristics of the end result
 When the project is clearly simple and direct
 Effective for smaller projects where requirements are well understood by everyone
involved.
Agile Methodology
This method’s main objective is to inflict change in an organization whenever possible.
Therefore, I focuses on producing good quality results and collaborating with the product users.
It is offers completely different opportunities to the project member contrary to waterfall
methodology. The project members are able to correct possible mistakes made in previous stages

of project process. Also, the client as the opportunity to make any changes desired at any time or
stage of the project process (Kannan et al, 2014). The methodology requires that the tasks and
activities to be executed and delivered as the project process demands. Therefore, this
characteristics make it a flexible, frequented design and effectively building process that can
deliver results in an efficient manner.
Advantages
 Potential problems can be predicted before they happen
 Allows changes to be done in the middle of the process, i.e. even after the planning stage
 Testing is done after every stage (sprint) to ensure that the end result quality
 End product can be launched at any stage
 Does not stress on documentation which saves money and time
Disadvantages
 Not suitable for large and complicated projects
 Offers opportunities to make changes during the process which increases the project
delays and possible problems
 Does not stress on documentation therefore can be misleading in the future
When to use Agile Methodology
 When quality of the end product is not very important
 When clients lack specifics of the end product and so can change the characteristics
 When the client has no clear picture of what product they want
 When the project members are skilled and adapted to change
PRINCE2 Methodology
It is called the Projects In Controlled Environment, Second Version methodology. It is the most
widely adopted project management method. It is basically used by individuals and business
organizations over a wide range of fields like in industries and other public and private sectors.
This method is flexible which reflects its support for any kind of project regardless of the type or
scale (Tomanek and Juricek, 2015). In this method, the project team members are given their

specific roles and responsibilities. It focuses on defining the project processes and ensuring that
each stage is performed effectively.
Advantages
 Is suitable for all sorts of projects, i.e. no matter the size, type and time period.
 It is possible for clients to engage or participate in the process
 Ensures consistent project process
 The team members have better control of the project progress at all times
 Capable of ensuring business justification
 It is costs effective
 It saves time
 The products can be tested at any stage of the project process
Disadvantages
 Can cause adverse disagreements between the clients and project team members
SUITABLE BUSINESS METHODOLOGIES
ORGANIZATION A
The organization is has a small number of employees which indicates that it is also a small
business. In addition to that, the project managers have a specific reason for wanting to
implement a project management methodology. They would like to improve or develop their
own careers as well as bring a positive change to the business and its operations. In that case, the
best type of methodology suitable for organization A is the waterfall project management
methodology. The conditions that that the business show are the same conditions in which the
waterfall methodology can be used.With the use of the Waterfall methodology, the organization
will face the following challenges, receive the following advantages and earn the following
benefits.
Challenges faced in waterfall methodology
 Lacks and does not account for requirements gathering
 Project team members lack opportunity to test the product during the process
 Challenge when it comes to predicting the end product design, quality or appearance

 Lacks certainty when it comes to delivering the expected final product or even using the
right project procedures.
Solutions to the challenges
 The method should allow product testing even when the project process is not over.
Through this the developers will be able to access the quality of the product and check
whether the right process is being used.
 All the requirements and expectations should be accounted for in details and documented
Benefits Associated with Waterfall Methodology
 Provides a platform for collaboration and participation in the beginning of the project
process
 Implementation process saves money
 The process saves time
 Offers a chance to determine the actual project progress of since the expectations and
requirements are specific and constant
 The whole project process is determined by the listed feature or requirements of the end
product which enables the developers to be certain of the product that they are yet to
produce.
 The results in each stage are used as testing of the end product even though the testing is
not actually done
 The project developers are more focused and determined because they already have a
picture of what to come up with.
Waterfall Methodology Implementation Plan
 Create a team of specialist and experts with experience in the organizational fields
 Revisit the organizations needs and requirements listed in the document
 Execute the organizational demand
ORGANIZATION B
The organization desires a project management methodology that will cater for its project
manager to project manager or project to project needs. The organization has a medium or fair

number of employees which makes it a fairly large business. It may not have specific
requirements or features of management methodology end results. Basically, this means that the
business is capable of making changes during the project management process. Therefore, the
best and most suitable methodology for organization B is the PRINCE2 methodology. This
specific methodology cab be used in different types and sizes of business organizations. Also, it
is suitable for achieving any objective set (Al Matari, 2014). The methodology also allows the
change of product’s end result at any point of project management stage.With the use of the
PRINCE2 methodology, the organization will face the following challenges, receive the
following advantages and earn the following benefits.
Challenges in PRINCE2 Project Management Methodology
 The possibility of changes being made compromises with the quality of the end product
 There are challenges when the changes made affect the set budget and the time period of
the whole project
 Challenges when it comes to producing the perfect anticipated product
Solutions to PRINCE2 Challenges
 More testing is required during the process and in every stage of implementation. This
includes checking and rechecking the steps and every activity involved in the process.
 Avoid frequent requirement and feature changes. This can be done in the initiation stage
whereby the stakeholders and business owners ensure that every requirement is included
right from the beginning
 Acquiring or using tolerable experts who are ready to accept change at any stage and any
time
 Ensuring that the project members or developers have more control of the project and
especially the scope of the project
Benefits Associated with PRINCE2 Methodology
 It saves time
 It saves money
 Produces quality and reliable product
 Encourages openness and clarity

 Can be applicable in any business or project type or size
 Encourages stakeholder and business owner involvement and participation
PRINCE2 Methodology Implementation Plan
 Devising the implementation plan
 Analyze and evaluate the business case, i.e. according to the organizational requirements
and demand
 Creating a support team e.g. consultants and experts
 Identifying and developing the required resources
 Securing Buy-in by identifying the benefits, advantages and possibility of other issues
arising
 Identifying the tools and techniques to be used
 Execute the plan itself
ORGANIZATION C
This is the largest organization among the three of them. It has a large number of employees
which indicates its large size. The business has been using a specific standard methodology for a
while now. This methodology is probably being controlled by the technological resources and
devices that the business is using.This technology devices may include ant equipment or
software systems. Therefore, the project management would certainly want to change the current
organizational methodology. The purpose is to improve the business operations in any way
possible. However, they project team managers do nave any specific development change. In that
case, the best suitable methodology is the Agile project management methodology. This
methodology specializes mostly on software development which means the improvement of an
organization’s technology (Špundak, 2012). The methods will be able to build, upgrade or install
improved technological devices or software systems (Quist, 2015). This method also allows the
change of or interference from the clients. This gives the project team managers to make changes
of exactly what they what as the end product. With the use of the Agile methodology, the
organization will face the following challenges, receive the following advantages and earn the
following benefits.
Challenges faced in Agile methodology

 Lack of enough testing coverage. This challenges develops from the frequent requirement
changes that the project undergoes.
 Maybe costly sometimes. This simply happens when the clients change the system’s
requirements often which can be expensive.
 Project procedures sometimes interrupt the productivity procedures
 Lack of effective and efficient communication between the business stakeholders and
business owners (Conforto and Amaral, 2010).
 Challenge in adapting to business requirement changes.
Solutions to the challenges
 Encourage cooperation and collaboration to overcome any potential change
 Working a s a team with the aim of producing the new process or procedure that will
cater for everyone’s needs
 Include the business stakeholders in every phase of the project methodology
implementation plan
 Encouraging the stakeholders and business holders to provide all the needed requirements
during the initiation stage to reduce future possible of requirement change.
Benefits of Agile Methodology
 Produces high quality end product
 Better chances of reducing risks
 Offers better and increased project control
 Offer better and increased customer satisfaction
 Encourages collaboration and participation, morale and ownership
 Offers an opportunity to predict future physical appearance and quality degree
Agile Methodology Implementation Plan
 Decide if the process is the right methodology for the organization
 Hiring a manager to take control of the management process of the specific business
 Involving willing and exciting team of employees
 Engage in team empowerment and self-organization
 Encourage discipline and positive attitude

 Ensure that every employee is aware of the methodology change
DISCUSSION
Implementing project management is a very important process and aspect of ensuring that a
project is successful and that it has achieved its objectives and goals. Through project
management implementation, the project managers are able to organize, direct and measure
every activity involved in a project. This is simply because there will be application of skills,
knowledge, tools and techniques that are required in achieving any project’s objectives and
goals.
Some of the people that are involved in a project management methodology implementation are:
project managers, stakeholders, users, project sponsors, expert consultants, business owners
among other things.
Project Methodology Implementation Plan
For an implementation methodology to be successful, there should be a plan to be followed. The
plan consists of specific stages that are to be executed one after the other. Therefore, each step
should be completed before the next begins. The stages are:
Initiating- This involves defining of the whole project and obtaining any permission from
authority to start the project from people in charge. This means that a project ides is presented,
analyzed and evaluated in details to be able to determine whether it will be beneficial to the
organization or not (Kerzner, 2013).
Planning- In this stage, the project managers and project team members have to decide the
project scope, set objectives and goals of the project, activity schedules, divide the roles and
responsibilities, come up with a budget estimate, list all resources that may be needed to name
just but a few things. In addition to that, the team has to list and define the best courses of action
to take in order for it the project to achieve its objectives (Martens and Carvalho, 2017).
Execution- This is the phase of actual action. The project team members puts into action the
activities and ensuring their performance.
Monitoring and controlling- This involves the reviewing and tracking the progress of the project
development. The mistakes and problems are identified, solutions sort among other

things(Kerzner, 2013). In this stage, the previous steps are reviewed to ensure that they have
followed the whole plan. Also, this stage ensures that the project was completed within the set
budget, time and scope. In other words, this stage is responsible for ensuring schedule control,
good quality, risk control and other responsibilities (Chin et al, 2012). The project managers
basically compare the status of the completed project with the status or plan of the actual project.
Closing- this involves finalizing of the project activities. The client is supposed to approve the
project outcome and performance. In addition to that, an evaluation should be done by the
project managers to be able determine whether the objectives are met and if not, learn from the
experience.
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