Analysis of Various Project Management Methodologies Report

This report provides a comprehensive overview of project management methodologies, emphasizing their significance in ensuring project success within budget and deadlines. It defines project methodologies and highlights various types, including Agile, Scrum, Kanban, Lean, Waterfall, PRINCE2, and PMI's PMBOK. The report compares Agile and Waterfall methods, detailing their lifecycles and key differences. The Agile lifecycle includes initiation, development, and completion stages, while the Waterfall method follows a step-by-step process. The conclusion stresses the importance of choosing the right methodology for quality deliverables and effective project management. The report references several academic sources to support its findings.

PROJECT MANAGEMENT METHODOLOGIES
1

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
PROJECT METHODOLOGIES.....................................................................................................4
TYPES OF PROJECT METHODOLOGIES..................................................................................4
COMPARISON BETWEEN AGILE AND WATERFALL...........................................................5
AGILE LIFECYCLE.......................................................................................................................5
Waterfall Lifecycle..........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
2

INTRODUCTION
Project methodologies help in processing the project and ensure that all its requirements could
get fulfilled. Methodologies provide a direction to the project manager with the effect of which
he performs all the tasks in the way in which they are required. These methodologies helps in
managing the work in a more refined way and ensures that risk of uncertainties could get
mitigated which could occur in near future. There are various set of methodologies available in
which it becomes necessary that the manager of the project should choose the most suitable as
well as relevant one. Failing to do so will have a direct impact on the project and so the project
will move in the wrong direction. Hence, a report is developed which will help in availing proper
set of information related with various methodologies and which methodology should be used in
which type of project.
3

PROJECT METHODOLOGIES
The methods which help in providing direction to the project and ensure that the project could
get completed within the budget and deadline are known as project methodologies (Edkins,
Kurul, Maytorena-Sanchez & Rintala, 2007). Project principles are being defined by the project
methodologies also it helps sin providing a set direction to the team working on the project so
that they could process the project in a smooth way and could provide quality to the same.
TYPES OF PROJECT METHODOLOGIES
Project requires that an appropriate and relevant set of method should be applied so that it could
get completed with quality and within the budget and time decided. In this it becomes necessary
that a project manager should use appropriate project methodology (Crowder & Friess, 2013).
There are various types’ project methodologies available which helps in managing the project.
Hence these methodologies are:
Agile Method: Agile method is a traditional method which ensures that a collaboration of all the
project requirements could be done and these appropriate resources could be availed to fulfill
those requirements.
Scrum Method: Scrum method is the method which helps in delivering all set of requirements
whether they are small, cross functional, self managing (Rozenes, 2011). This helps in
processing the project in a smooth manner as all the aspects are decided well in advance only and
all the requirements get fulfilled.
Kanban Method: Kanban method is used by the project manager so as to ensure that the project
could get completed in a fast manner. It helps in increasing the visibility of the project and helps
in completing the same in a fast way.
Lean Method: Lean method is used to find the shortest way out to complete the project
(Rasnacis & Berzisa, 2015). This method helps in completing the project in lesser cost by using
the best ways to complete the same.
4

Waterfall Method: Waterfall method is a method in which a step by step process is developed
which helps in fulfilling the requirements of the project.
PRINCE2: PRINCE2 is the method in which control techniques are applied so as to manage the
requirements of the project (Pathak & Saxena, 2012).
PMI’S PMBOK: There are certain universal standards which are set; hence this method helps in
ensuring that these standards remain maintained so as to manage the project.
COMPARISON BETWEEN AGILE AND WATERFALL
 Both the methods help in managing the project requirements and also are the traditional
methods used to manage the projects.
 Deadline is determined in Agile as well as Waterfall method which helps in completing
the project tasks within the prescribed time.
 Full proof plan is developed in agile method to complete the project and it helps in
completing the same with quality (Layton, 2012).
 Waterfall method uses step by step process to complete the project
AGILE LIFECYCLE
5

(Edkins, Kurul, Maytorena-Sanchez & Rintala, 2007)
Above is the lifecycle of agile methodology which includes all the steps which are being
followed in it. It includes initiation stage of the project to its completion and development stage.
Waterfall Lifecycle
(Crowder & Friess, 2013)
The waterfall model shown in the above image helps in understanding that what are the steps
which are involved in project process. Waterfall method is a very simple and effective method
which could be applied to the project.
6

CONCLUSION
With the help of the report developed it could be concluded that to complete the project one of
the most important aspects which is required to complete the project are the methodologies.
Using appropriate project methodology will help in delivering quality and will ensure to provide
better support with the effect of which project could get completed in an effective as well as
efficient way.
7

REFERENCES
Crowder, J., & Friess, S. (2013). Systems engineering agile design methodologies. New York,
NY: Springer.
Edkins, A., Kurul, E., Maytorena-Sanchez, E., & Rintala, K. (2007). The application of cognitive
mapping methodologies in project management research. International Journal Of Project
Management, 25(8), 762-772.
Layton, M. (2012). Agile project management for dummies. Hoboken, N.J.: Wiley.
Pathak, S., & Saxena, P. (2012). Hybrid Methodology Involving Scrum and Waterfall Model
towards the Software Project Development in Academic Knowledge Centers. International
Journal Of Evaluation And Research In Education (IJERE), 1(1), 4-6.
Rasnacis, A., & Berzisa, S. (2015). Adaptation of Agile Project Management Methodology for
Project Team. Information Technology And Management Science, 18(1), 128-129.
Rozenes, S. (2011). The Impact of Project Management Methodologies on Project
Performance. International Journal Of Information Technology Project Management, 2(2), 64-
73.
8