A Detailed Comparison of Project Management Methodologies

This report provides a comparative analysis of various project management methodologies, including Waterfall, Critical Path Method, PMBOK, Agile, Extreme Programming, Adaptive Project Framework, Prince2, Lean Project Management, and Six Sigma. Each methodology is described, highlighting its usability, risks, and suitability for different project types. The report includes a comparison table outlining the advantages and disadvantages of each approach, aiding in the selection of the most appropriate methodology for a given project. The document concludes with a list of references used in the analysis.

Project Management

Contents
Introduction:..........................................................................................................................................2
Project Management Methodologies.....................................................................................................2
Comparison Table of Project Management methodologies:..................................................................2
References:............................................................................................................................................4

Introduction:
There are different approaches which are used for managing and scheduling the project
activities effectively to complete the project within approved cost and time.
Project Management Methodologies
Some of the project management methodologies are described below:
1. Waterfall project model: It is the sequential model which is used for managing the
customer requirement in the project start-up phase (Halls, 2012)
2. Critical Path Method: It is used for analysing the critical path of the project activities
for avoiding bottleneck situation
3. Project Management body of Knowledge (PMBOK): This methodology break down
the project into several knowledge areas for bringing efficiency in the completion of
the project (Alawneh, and Aouf, 2016).
4. Agile Methodology: The major focus is given on change in the customer requirement
and required changes in the end product of the project development phase
5. Extreme programming: This methodology focuses on managing the teamwork and
increasing the level of satisfaction of the customers.
6. Adaptive project Framework: It is used for improving flexibility in the end product of
the project management working model.
7. Prince2 methodologies: It is based on 7 processes which is comprised of business
proposal, experience, division of role and responsibilities, identification of
assumptions and exceptions, and creating effective project environment (Cicibas,
Unal, and Demir, 2010).
8. Lean Project Management: This model is used streamlining the bottleneck situation of
the working process model.
9. Six Sigma Principles: This model is used for improving the quality of the end product
for attaining the efficiency of 99.99966% accuracy.

Comparison Table of Project Management methodologies:
Project
Management
Methodologies
Why Choose Why should not
use
Best suitable for Description
Waterfall Usability
Structure
Efficient
Risks and
uncertainties are
majorly
associated
Initial cost is
much higher
For construction
program
It is useful for
using the current
structure of the
undertaken
project
Critical Path
Method
Easy scheduling
of the project
activities
Inflexible
Setting of
priority
Useful for
construction
project
It is useful for
managing the
dynamic
changes in
project
development
phase
PMBOK It is the process
oriented
approach used
for designing the
framework of
project with the
initialization of
tools and
technologies and
setting of quality
standard
(Karaman, and
Kurt, 2015)
Increases
complexities of
the smaller
project
Management
and engineering
projects
It focuses on
different key
areas of the
project such as
scope,
communication,
resources, time,
cost,
procurement,
quality, and
others
Agile
Methodology
It is useful for
managing the
coordination and
Increases
complexities of
the smaller
Suitable for
larger project
and dynamic
customer
requirement and
required changes

cooperation
among the
processes and
technologies
project changes of the
customer
requirement
in the end
product of the
project
development
phase
Extreme
programming
Simplicity
Constant
feedback
It focuses more
on program than
design
It is useful for
software
development
project
It is useful for
testing the
project regularly
Adaptive project
Framework
Flexibility
Teamwork
It is not suitable
for constant
changes
It improves team
collaboration
(Kharaiweish,
2013)
It improves the
quality of the
finished product
Prince 2 Reduces risks Documentation
Re-allocation of
resources
Managing
requirement
Increases project
control
Lean project
management
Low budget
Short timeline
Processes can be
corrupted
Optimizing
resources
Increases quality
of the end
product
Six Sigma Defining bugs
and error
Limiting the
innovation of
the team
Improving
technology
utilization
Increases the
accuracy of the
project
References:
Alawneh, A., and Aouf, R. (2016). A proposed knowledge management framework for
boosting the success of information system projects. International conference on engineering
and MIS. Available at: https://ieeexplore.ieee.org/document/7745381/ [Accessed 18 Oct.
2018].
Cicibas, H., Unal, O., and Demir, K. (2010). A comparison of project management software
tools. International conference on software engineering research and practice, 2(1).
Available at:

https://www.researchgate.net/publication/221610417_A_Comparison_of_Project_Manageme
nt_Software_Tools_PMST [Accessed 18 Oct. 2018].
Halls, N. (2012). Project Management recent development and research opportunities.
International journal of system science and system engineering, 21(2), pp.129-143. 1st ed.
[ebook]. Available at: https://link.springer.com/article/10.1007/s11518-012-5190-5
[Accessed 18 Oct. 2018].
Karaman, E., and Kurt, M. (2015). Comparison of project management methodologies:
Prince2 versus PMBOK for its project. International journal of applied science and
engineering research, 4(4). Available at: http://citeseerx.ist.psu.edu/viewdoc/download?
doi=10.1.1.695.1164&rep=rep1&type=pdf [Accessed 18 Oct. 2018].
Kharaiweish, M. (2013). Project Monitoring and control measures. International Journal of
computer science and information technology, 5(5). Available at:
http://airccse.org/journal/jcsit/5513ijcsit03.pdf [Accessed 18 Oct. 2018].