Project Management Methodologies: A Comparative Analysis Report

This report provides an in-depth analysis of project management methodologies, focusing on their application across various industries. It begins with an introduction to project management and its evolution, tracing its development from the late 19th century to the present. The core of the report examines three key methodologies: PRINCE2, Waterfall, and Agile. PRINCE2 is presented as suitable for energy and power generation, with its structured approach to project inputs, outputs, and risk management. The Waterfall methodology is discussed in the context of IT services, detailing its sequential phases from requirements to maintenance. Finally, the Agile methodology is highlighted as appropriate for the mining sector, emphasizing its flexibility and iterative approach. The report concludes by summarizing the methodologies and their relevance to project stages and resource allocation, providing a comprehensive overview of project management frameworks and standards.

Running head: PROJECT MANAGEMENT METHODOLOGIES
Project Management Methodologies
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Table of Contents
1.0 Introduction..........................................................................................................................2
2.0 Evolution of project management........................................................................................2
3.0 Project management methodologies....................................................................................3
3.1 PRINCE2 Methodology...................................................................................................3
3.2 Waterfall methodology.....................................................................................................4
3.3 Agile methodology...........................................................................................................5
4.0 Conclusion............................................................................................................................6
References..................................................................................................................................7

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1.0 Introduction
After analyzing the provided case study, it is observed that the company is operated in
three different domains such as energy and power generation, IT services as well as mining.
The company decides to customize project management (PM) methodologies on three project
domains for better success of their business operations (Kerzner 2013). The staffs working
into the organization are not responsive to update the PM methodology.
Fleming and Koppelman (2016) stated that the project management methodology is
termed as a grouping of logically related to the methods and processes which can determine
how to develop and control the project plan.
2.0 Evolution of project management
Schwalbe (2015) demonstrated that the organizations whether it is small or large, the
topic project management has a great importance. Development of new product as well as
service, development of new production line for various domains, public relations with the
promotional campaign and major building of programmes are considered as the main
elements of the project management methodologies (Boud, Cohen & Sampson 2014).
Early years: late 19th century- In the 19th century, the business faces lot of complexities
due to improper principles of project management (Walker 2015). The business leaders are
facing lot of problems while organizing the tasks and there are unprecedented quantities of
the raw materials.
Early 20th century efforts- In the 20th century, the business leaders are improving their
productivity by focusing on the demand and longer working hours of the workers (Martinelli
& Milosevic 2016). Gantt chart is used to evolve the management functions of the business.

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Mid 20th century efforts- In this period, network diagram such as PERT charts as well as
critical path is introduced for successfully plan the project. The manager can control the
complex projects with implementation of strategies in addition to tools which can handle the
growth of ever-changing environment (Nicholas & Steyn 2017).
3.0 Project management methodologies
3.1 PRINCE2 Methodology
This particular methodology is suitable for energy and power generation as this
methodology is the best to overcome with the problems into the business. This methodology
is introduced in the year 1996, which defines both project inputs as well as outputs at various
project stages (Leach 2014). Kerzner (2017) stated that PRINCE2 is a principle driven to the
project management. This methodology solves the business requirements, consists of
corresponding activities in order to develop the products and has distinct lifespan (Turner
2016). This methodology explains the need to manage the risk, quality and control the
changes into the project. This particular methodology consists of techniques to control the
impacts of the project changes. It prevents the project to go into wrong directions. The main
benefit of this methodology is that it is flexible as well as responsive (Nicholas & Steyn
2017). It also involves identifying the responsibilities of the team members for setting the
processes to work throughout the project plan. The key phases and processes of this
methodology are: directing of the project, start up the project, initiation, managing,
controlling and managing of the product delivery, closing of the project and planning.

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3.2 Waterfall methodology
This particular methodology is suitable for IT services as it is basically used for the
development of software into the IT projects. The phases of this methodology are
requirements, design, implementation, verification and maintenance.
Requirement: Rainer, Prince and Watson (2014) concluded that within the project,
the project manager should determine all the project requirements which are managed with
integration of the dynamics taken place. The project requirements are to develop project
charter, statement of scope and plan to manage and control the possible changes.
Design: After determination of the requirements, the plan is designed. The projects are
consisted of definite start as well as end date. As per the schedule of the project, there is a
requirement to manage the time (Vijayasarathy & Butler 2016). Proper design requires
sequencing, estimation of resource as well as duration, development of schedule and
controlling.
Implementation: Based on the created design, the code is generated. The codes are being
integrated for next phase. Unit testing are to be done for the codes (Rosemann & vom Brocke
2015).
Verification: The project work involves of particular deliverables such as project
documents. The deliverables require meeting with the project objectives as well as
performance standards. The quality involves of proper quality planning, controlling and
assuring (Krysiński & Miller 2016).
Maintenance: The software developer should be sure that the application is running into
respective environments. When any issues are being fixed, then updated code is being
deployed into the environments (Tomanek & Juricek 2015).

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3.3 Agile methodology
This particular methodology is suitable for mining sector as it allows for the changes
to be done at the initial planning phase. It adds features as it keeps up to date with latest
development into the mining sector. Testing is done for each of the sprints which make sure
that the bugs are being caught. All the products are being tested thoroughly. The phases and
processes of this methodology are: project initiation, sprint planning, daily scrum, print
retrospective and demo.
Project initiation: It consists of some of the main elements such as project goals,
constraints, problem statement, assign of the project manager, list of the project stakeholders
and project milestones (Spundak 2014).
Sprint planning: The plan determines the project scope, project objective with
creating a work breakdown structure for the project plan.
Daily scrum: The scrum master ensures that all the daily project works are done to
meet with scope and acceptance levels are being understood from onset (Bartlett 2017).
Print retrospective: Assign of the project manager to the work, determination of the
needs and expectations of the project stakeholders, defining of the success criteria of the
project, identification of the project budget with alignment of the strategic goals (Rosemann
& vom Brocke 2015).
Demo: It is the ShowTime for the agile projects. The team members determine if the
delivered products are meeting with the client’s expectations.

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4.0 Conclusion
It is concluded that PRINCE2, waterfall and agile methodologies are used for
illustration of the project stages useful for implementation of the project plan. It is considered
as an intended standard and also stage of project management. This report critically analyzes
the framework as well as standards for the project management in various industries/domains.
It also analyzes the allocation of the resources to the lifecycle of project management. The
report discusses on the outputs of lifecycle in project management with strategies for
continuous professional development.

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References
Bartlett, D., 2017. Champions of local authority innovation revisited. Local Government
Studies, 43(2), pp.142-149.
Boud, D., Cohen, R. & Sampson, J. eds., 2014. Peer learning in higher education: Learning
from and with each other. Routledge.
Coppola, D., D'Ambrogio, A. & Gianni, D., 2016. Bringing Model-based Systems
Engineering Capabilities to Project Management: an Application to PRINCE2. In CIISE (pp.
6-15).
Fleming, Q.W. & Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to
measuring and monitoring project performance. John Wiley & Sons.
Krysiński, M. & Miller, P., 2016. The Role of Conflict in Project Management in the
PRINCE2 Methodology. Ekonomika i Organizacja Przedsiębiorstwa, (6), pp.3-12.
Leach, L.P., 2014. Critical chain project management. Artech House.
Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and
techniques for the practicing project manager. John Wiley & Sons.
Nicholas, J.M. & Steyn, H., 2017. Project management for engineering, business and
technology. Taylor & Francis.

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Rainer, R.K., Prince, B. A & Watson, H.J., 2014. Management Information Systems. Wiley
Publishing.
Rosemann, M. & vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer Berlin
Heidelberg.
Sanjuan, A.G. & Froese, T., 2015. Principles, characteristics, and methodology to develop a
project management assessment tool at the construction project level.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Špundak, M., 2014. Mixed agile/traditional project management methodology–reality or
illusion?. Procedia-Social and Behavioral Sciences, 119, pp.939-948.
Tomanek, M. & Juricek, J., 2015. Project risk management model based on PRINCE2 and
SCRUM frameworks. arXiv preprint arXiv:1502.03595.
Turner, R., 2016. Gower handbook of project management. Routledge.
Vijayasarathy, L.R. & Butler, C.W., 2016. Choice of software development methodologies:
Do organizational, project, and team characteristics matter?. IEEE Software, 33(5), pp.86-94.
Walker, A., 2015. Project management in construction. John Wiley & Sons.