Project Management Methodologies: Comparison and Applicability

This report provides a comprehensive overview of project management methodologies, focusing on the Project Management Body of Knowledge (PMBOK) and Agile frameworks. It delves into the core concepts of each methodology, outlining their respective processes, advantages, and disadvantages. The report highlights the five process groups of PMBOK—initiation, planning, execution, monitoring and control, and closure—and contrasts them with the iterative, sprint-based approach of Agile, particularly the Scrum framework. A detailed comparison table is included, contrasting key aspects like team roles, flexibility, planning levels, and change management. Furthermore, the report assesses the applicability of each methodology to a specific project, a bespoke costing system, considering factors such as project scope, risk, and the need for adherence to timelines and budgets. The conclusion recommends PMBOK for this project, emphasizing its structured approach and ability to ensure that all project requirements and expectations are met. The report also touches upon the benefits of PMBOK, including its ease of application and comprehensive guidelines for managing various project aspects.

Project Management Methodologies

Project Management Methodologies
Table of Contents
Introduction...........................................................................................................................................2
Project Management Methodologies.....................................................................................................2
Project Management Body of Knowledge.........................................................................................2
Agile Project Management................................................................................................................3
Comparison between PMBOK & Agile Project Management...............................................................4
Applicability for the Project..................................................................................................................7
Conclusion.............................................................................................................................................8
References.............................................................................................................................................9
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Project Management Methodologies
Introduction
Project Management is a discipline that provides the guidelines and measures to the Project
Managers for efficient management of the projects, its resources, requirements and
stakeholders. There are several methodologies that have been defined for project
management, such as Projects In Controlled Environment (PRINCE2), Project Management
Body of Knowledge (PMBOK), agile framework for project management and many more.
Each of these methodologies has its own set of features, pros and cons. The applicability of a
project management methodology to a project is based on numerous factor such as the project
size, requirements, resources, critical areas, risk areas etc.
The project which is required to be managed with the aid of project management
methodology is the project costing bespoke system. There are various phases that are
involved in the project like project development, procurement of hardware, implementation
and testing, training of users, go live and review of deliverables.
Project Management Methodologies
Project Management Body of Knowledge
Project Management Body of Knowledge (PMBOK) is a project management methodology
that organizes the entire project management activities and tasks in five process groups.
These process groups include initiation, planning, execution, control and closure (Rose,
2013).
The first process group is the project initiation. In this stage, the project is defined at a broad
level. The feasibility of the project is evaluated in this stage of the project with the aid of
feasibility studies on technical, economical, operational and environmental aspects. A charter
document is prepared in this stage to gain approval from the stakeholders on the project go-
ahead.
The second process group is project planning. It is the phase in which the project goals are
defined which shall be SMART (Specific, Measurable, Attainable, Realistic, Timely) goals.
There are a number of planning tasks and activities that are carried out in this stage. These
include the project estimations in terms of project budget, project schedule, risk assessment,
communication planning and resource planning. The scope of the project is defined in this
project group with the aid of the scope statement. The list of deliverables and milestones is
also defined (Randolph, 2014).
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Project Management Methodologies
The third process group include the project execution that begins with a kick off meeting. The
procurement of the tools and equipment is done followed by the design and developmental
activities. The plans created in the previous stage are executed in this stage.
The next process group include the monitoring and control of the project. It is this stage in
which implementation of the project along with the testing of the same is performed. There
may be many changes that may come up during the project in terms of the change in the
project requirements and specifications along with changes for the project team members.
These changes are also managed in this stage. The performance of the resources is also
evaluated in this phase and the performance measurement is carried out in this phase. Project
control and evaluation is carried out in this stage with the aid of processes as reviews,
inspections and walkthroughs (Chou & Yang, 2012).
The last process group includes the closure of the project. All of the project deliverables are
accepted and signed off in this stage by the project stakeholders. The process groups also
include the system documentation along with the development of the closure report. The
report covers all of the project activities that are carried out during the project life cycle.
There are a number of knowledge areas that are managed under PMBOK. Some of the
knowledge areas cover integration management, scope management, time management, cost
management, communication management, risk management, resource management and
likewise. These knowledge areas provide the specific guidelines that shall be followed during
the management and organization of a particular project (Jamali & Oveisi, 2016).
Agile Project Management
Another project management methodology that is widely applicable is the adaptive
methodology using agile framework. The nature of this project methodology is adaptive
whereas most of the other project management methodology are predictive in nature.
Agile project management is an ad-hoc project management methodology that is value based
in nature. There are no project stages or defined phases that are included under this
management methodology. However, there are certain steps that shall be followed under this
particular project management framework. It is a value driven approach for project
management that allows the project managers to deliver the project deliverables with better
quality and accuracy (Juricek, 2014).
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Project Management Methodologies
In the agile project management, there is SCRUM framework that is used. In this framework,
there is a product backlog that is present that comprises of all of the project related
requirements and specifications. This backlog is created with the aid of the project owner.
The management process is carried out in an iterative manner in a series of sprints. Each of
these sprints lasts for 2-4 weeks and the managerial activities are accordingly carried out.
There are three sets of planning activities that are involved in each of these sprints viz.
project level planning, release level planning and iteration level planning (Indelicato, 2016).
The planning activities allow the project team members to get details around the project
specifications and highlights, project schedule along with the planning regarding the
execution of the work sets. There is also a daily sprint meeting that is carried out among all
the team members that includes the discussion of the project progress and also aids in the
resolution of the project risks and conflicts.
There are a number of benefits that are offered by agile project management in terms of its
ad-hoc nature. There may be cases during the project life cycle wherein it may become
necessary to make sudden changes and modifications. Such changes can be handled with ease
using the agile project management methodology. Also, the customers and project owners are
kept in close contact during the entire project life cycle. It makes sure that all of the processes
being carried out at the managerial level are informed to all the project stakeholders and their
valuable feedback is also collected (Rasnacis & Berzisa, 2015).
The user and customer satisfaction level that is earned using agile project management and its
application is usually high.
Comparison between PMBOK & Agile Project Management
Parameter PMBOK Agile Project Management
Type Project Management Body
of Knowledge (PMBOK) is
a methodology for the
management of the projects
Agile project management is
a framework for the
management of the projects
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Project Management Methodologies
Management Team &
Responsibilities
The primary responsibility
and accountability for the
management of the project
tasks and activities is on the
Project Manager.
The primary responsibility
of the project management is
on the SCRUM master and
there are self-managed
teams and groups that are
involved.
Phases and Steps The entire project
management activities and
tasks in five process groups.
These process groups
include initiation, planning,
execution, control and
closure.
The management process is
carried out in an iterative
manner in a series of sprints.
Each of these sprints lasts
for 2-4 weeks and the
managerial activities are
accordingly carried out
(Gemunden, 2015).
Flexibility & Change
Management
The project tasks and
activities that are managed
as per PMBOK
methodology are less
flexible in nature. The
change control method is
also not very flexible and
there is a lot of rework that
is normally associated with
the projects (Matos &
Lopes, 2013).
The level of flexibility that
is involved in this case is
extremely high. The changes
can be easily incorporated in
the projects and there is also
minimal rework involved.
Level of Planning There is an extensive
planning that is involved for
the entire project that
includes project estimations
in terms of project budget,
project schedule, risk
assessment, communication
planning and resource
planning. The scope of the
There are three sets of
planning activities that are
involved in each of the
sprints viz. project level
planning, release level
planning and iteration level
planning.
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Project Management Methodologies
project is defined in this
project group with the aid of
the scope statement. The list
of deliverables and
milestones is also defined.
Monitoring Activities The project meetings take
place on a weekly basis and
the monitoring activities are
carried out using additional
mechanisms such as daily or
weekly status reporting.
There is a daily sprint
meeting that is carried out
among all the team members
that includes the discussion
of the project progress and
also aids in the resolution of
the project risks and
conflicts (Dalcher, 2011).
Advantages  The methodology is
easy to understand
and apply as the
phases are clearly
defined along with
the definition of the
roles, responsibilities
and all the
knowledge areas
(Saleh Al-Freidi,
2015).
 It provides a
standard process and
mechanism for the
management of
project activities and
associated steps.
 The management
methodology is
recognized at the
global level which
 The changes can be
easily made in the
projects leading to
the ability to meet
the budget and
schedule that is
estimated for the
project.
 The project quality is
high as the business
value is kept as the
prime focus.
 The customers and
project owners are
kept in close contact
during the entire
project life cycle. It
makes sure that all of
the processes being
carried out at the
managerial level are
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Project Management Methodologies
makes it easier for
the project clients to
represent the project
at a global scale.
informed to all the
project stakeholders
and their valuable
feedback is also
collected. It leads to
better customer and
stakeholder
engagement and
satisfaction levels
(Serrador & Pinto,
2015).
Set of Challenges  This management
methodology may
not be applicable in
the projects that may
be changing
frequently.
 The flexibility and
the adaptability is
limited in this case.
 The success criteria
is not clearly defined
and stated which
may make it difficult
to track the project
success.
 Ongoing business
input is required in
this case.
Applicability for the Project
The project costing bespoke system that has to be developed includes a number of phases as
project development, procurement of hardware, implementation and testing, training of users,
go live and review of deliverables.
There are certain risks that are associated with the project in terms of variation in the quality
of the deliverables, schedule and cost overrun, communication conflicts, testing issues,
dissatisfied users and damage to the PCs or the servers. The probability of all of these risks is
high in the case of this project (Attarzadeh & Ow, 2008).
There are lesser scope of major changes in the project that may take place. Also, it is
extremely necessary to stick to the timeline and the budget that has been estimated. The
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Project Management Methodologies
quality of the deliverables as promised during the planning stage along with the completion
of each of the project phases is also necessary.
As per the factors associated with the project, the applicable project management
methodology that has been recommended for this project is Project Management Body of
Knowledge (PMBOK). This project management methodology would make sure that all of
the project requirements, specifications and expectations are met (Joslin & Muller, 2015).
There will also be a number of benefits that will be offered by PMBOK to this project. The
set of benefits include the ease of application and understanding as the phases are clearly
defined along with the definition of the roles, responsibilities and all the knowledge areas.
The Project Manager will have the guidelines and step of actions in case of the project risks
and conflicts. There are a number of knowledge areas that are managed under PMBOK.
Some of the knowledge areas cover integration management, scope management, time
management, cost management, communication management, risk management, resource
management and likewise.
Conclusion
Project management has become a necessary and essential area to be looked after during the
project life cycle in the business organizations. It is because of the reason that there ae
numerous projects that are required to be managed by the members of the staff at the same
time. There are also numerous requirements that are required to be included during the
project life cycle. The management methodologies make it easy to attain the project
specifications and requirements and also it becomes easier to achieve the project goals and
objectives.
The selection of the project management methodology shall depend upon the nature and type
of the project along with the project factors, such as project resources, project deliverables,
project specifications etc. The customer satisfaction levels, type of the customer, nature of the
customer, expected project quality along with the scope of changes in the project shall also be
considered while making the selection for the project management methodology.
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Project Management Methodologies
References
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Smart Methodology Selection. SSRN Electronic Journal.
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Chou, J., & Yang, J. (2012). Project Management Knowledge and Effects on Construction
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Project Management Journal, 42(1), 92-92. http://dx.doi.org/10.1002/pmj.20229
Gemunden, H. (2015). Foundations of Project Management Research: Stakeholders and
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Project Management Methodologies
Rasnacis, A., & Berzisa, S. (2015). Adaptation of Agile Project Management Methodology
for Project Team. Information Technology And Management Science, 18(1).
http://dx.doi.org/10.1515/itms-2015-0019
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http://dx.doi.org/10.1002/pmj.21345
Saleh Al-Freidi, S. (2015). A Unified Project Management Methodology (UPMM) based on
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