Comparative Analysis: Waterfall vs. Sustainable Project Management

This report provides a comprehensive analysis of the waterfall model, a traditional project management approach, and its suitability for various project types. It contrasts the waterfall model with sustainable project management methodologies, such as Agile and Lean, highlighting their applicability to computer software development and construction projects. The report further explores project evaluation methods, including pre-project, ongoing, and post-project evaluations, and discusses portfolio selection methods like financial, probabilistic, strategic, and mapping methods. The analysis emphasizes the importance of selecting appropriate project management methodologies based on project characteristics and the need for effective resource management and communication. The report concludes by advocating for a combination of methods to optimize project outcomes, particularly in sensitive and complex projects like those in the pharmaceutical industry.

SET OF PROBLEMS

TABLE OF CONTENTS
1) Analysing waterfall model being the best approach to manage the project and critically
appraising two classes of projects where sustainable project management methodologies may
be more suitable. .........................................................................................................................3
2)Project evaluation and portfolio selection method...................................................................6
REFERENCES .............................................................................................................................10

1) Analysing waterfall model being the best approach to manage the project and critically
appraising two classes of projects where sustainable project management methodologies
may be more suitable.
Waterfall model is a traditional project management approach which is still relatable in
the modern times. This model has capacity to provide more practical results when the project is
short, mature, understood and fixed. Waterfall uses a clear structure, it focuses on defined set of
steps and is clear in nature which makes it very suitable methodology. Each project goes through
the vital steps such as requirement gathering and documentation, system design, implementation,
testing, deployment and maintenance. It has the feature of defining the end goal early which is
very helping in any project. It is highly committed to its end goal and believes in setting the
deliverables in the early stage of the project which makes the vision very clear (Saltz and et.al.,
2018).
It makes very less potential of getting lost in the project management and goal
achievement. Waterfall method is highly methodical as it clearly emphasizes on a clear transfer
of information at each stage and step of the project. It is highly organized as there are no
roadblocks and backlog issues which makes it really time bound and highly deliverable. A
smooth flow of information is very important because it involves numerous people from
different working areas constantly working towards single goal hence the waterfall method is a
great approach of managing projects.
Project management methodologies which are sustainable in nature support various
classes of projects yet the two important classes of projects can be computer software
development and construction. It is important to undertake the sustainable project management
techniques which can largely benefit the organization, project and client. As world is facing
major resource constraint and it is important to take such measures while working on a project
that takes care of the sustainability of the resources and does the work of the best measure in
which the project is being classified into various sub segments which can make the resources
really work well. Also, there are various methodologies which takes care of different project
types in a very specific manner. Each project has its own type of requirement which needs to be
addressed in the effective delivery and fulfilment of the project (Matos and et.al., 2019). Agile,
waterfall, lean, scrum etc. are the different project methodologies which are used in the project
management.

Waterfall method of project management can also be suitable yet it will hinder the error
correction or need to modify the project done in previous stage. Further the lean method of
project management can also be a good method as it avails the facility of reducing the wastage of
resources and optimization of the resource in the construction projects. As the large scale
projects in the construction business needs a lot of resources in large amounts hence it becomes
very crucial for the business to look after the resource constraint factors and go after the
production methods which automatizes the processes while giving out the best project delivery.
Lean methodology helped in eliminating the resources which are not required and are leading to
the wastage various monetary resources (Piwowar-Sulej, 2020).
It includes various important facts which are often faced by the construction projects.
Such as the issue of incremental development, as the project goes ahead they find out many such
areas which needs to be done differently or the resources used must be used differently. Also,
changes in client requirement are very often due to long duration of the project the expectation of
the clients change frequently. On the other hand, critical path method (CPM) works best for the
construction projects which are short duration based yet very complex in nature and needs
designing and map drawing.
Computer software development is another such class of project which needs an effective
project management methodology to deliver the projects. These are the projects which are highly
interdependent and sensitive in nature (Martínez Montes and et.al., 2021). Yet many business
uses the hybrid methodology as well in order to maintain the flexibility of the management
methods of the projects.
The major conditions of the software development projects are the high competition,
tighter budgeting, effective communication, effective documentation, project drafting, etc. It is
important to clearly abide by all such important rules (Priyadi and Sensuse, 2022). Agile
methodology helps in estimation of the projects in terms of time. Cost and efforts. It enables the
resource allocation for the various task and sub tasks in the projects assuring the optimum
utilization of resources..
Scrum is said to be an extension of agile method. It enables a distinct system which helps
developers reach the development process. Further, the lean method of project management
highlights the importance of the optimization of the resources for the better business practices.

Fundamental of this method is to eliminate the wastage and bring an effective value to the
customers.
Software development is not just about the designing, it is also about the continues
maintenance of the projects to avoid any complication in the software at the time of deployment.
Many innovations led projects need accurate management of each stage of the development.
Involvement of various stages where client requirement and feedbacks is very crucial and must
be incorporated to define the success of the project gives a comprehensively edge in defining the
methodology for project management in scareware development. Not only the quantitative
measure but also the qualitative measure which needs to be taken as a measure in the
management of the projects just to determine project management tools and techniques.
Construction project Computer software development project
As construction projects involves step by step
completion of the project which needs strict
management of each stage in advance. Under
the construction project there are various
resources which are required on a large scale
hence it requires a detailed project
management which deals with the problem of
resource constraint and manages the timely
delivery of the effective projects (Jovanovic
and Beric, 2018). Construction projects usually
goes on for a long period which generates the
need to modify and change in the stages of the
projects.
There are various tools and techniques which
are constantly needed to be monitored to assure
an efficient delivery. Project management for
software development involves planning
monitoring scheduling delivering executing
projects. In such project due to the greater
competitive advantage and tighter budgeting
issues which requires a strong communication
agile turns out to be the suitable project
management methodology.
Agile project management methodology is
highly suitable for the construction projects.
Under this water flows on both sides which
resembles the flexibility of making changes in
the previous project steps as well. Such liberty
is very crucial for the error correction and
Agile is the most popular computer software
development methodology as 36% of projects
in software are completed by using this only.
Few important points can be that it supports
iterative development and feedbacks from
consumers or clients.

flexible analysation of the client demand.
The main agile principles can be very
beneficial in delivering the construction
projects (Misopoulos and et.al., 2018). People
working towards the construction projects
often have different styles and it is easy to
solve a problem or get the work done in
collaboration rather than following the
prescribed procedures.
Waterfall methodology highly emphasizes on
the linear progression because of which it is
not suitable for the software development as
many a times due to high level of
interdependency there needs to be the
flexibility of making changes and
modifications in the previous steps of the
processes (Cristaldo and et.al., 2021). And
these things are not supported by the waterfall
method.
2)Project evaluation and portfolio selection method
Project evaluation methods:
project evaluation methods can be referred as the tools or techniques which are being
used by organizations in order to evaluate their project. For instance- if certain organization is
engaged in pharmaceutical business and wants to roll over its expedition pertaining to the realm
then there is need to have such method which can help it in evaluating the project in attempt to
eradicate any perilous dynamic and brining better practise so can make it successful. There are
three main types of such methods which are being used by different organizations as per their
suitability and needs. The methods are as jolted down in the table to bring better understanding.
Pre-project evaluation Ongoing evaluation Post-project evaluation
The pharmaceutical
company may use any of
these as per its suitability
but since the company is
carrying out market
research so with this
respect, a good combination
of all these three methods
A good combination is more
likely to be imparted. Since the
pre-project evaluation will
help the entity in knowing the
way it is fabricating its plan
and strategies to grab the aim.
This will be aiding to make
essential changes form the
At the end, the post-project
evaluation model which is
also being used by
organizations and would be
very much handy for the
pharmaceutical company
since it will enhance their
capability to make absolute

would make it foster. The
proportion of accentuation
may be different but the fact
can not be rejected that
there is need of keeping
these all three (Juneja, K.,
2019)
beginning. Ongoing evaluation
is the method which is
deployed only when the
project has already
implemented and is going on.
This method is useful to trace
the perilous points which are
prevailing in the project. If in
the middle the issues are traced
and addressed then the
possibilities of grabbing the
aim becomes higher.
plan for their next attempt.
It becomes highly inevitable
since at once when the
project is already executed
then knowing the variances
and their reasons is quite
essential (Volden, 2018) On
the basis of this evaluation
an organization may
fabricate more suitable
policies for its future
expedition.
On the other hands, it is also perceived that if the all methods are being used then the
organization may bear bigger cost which does not suit to its financial health. With this respect, if
only one of these methods has to be selected then the entity is supposed to use ongoing
evaluation. This is quite helpful since the ongoing method would help to install such a
mechanism which will be additive to accomplish greater. By using this the project can be
evaluated at different points and along with progress some unavoidable shuffles can be imparted.
This will not only help to reduce the cost factor, but will be augmenting better control on the
undertaken pharmaceutical project.
Portfolio selection method:
Portfolio selection methods can be articulated as the methods which are used to ensure selection
of portfolio out of the available alternatives (Huddlestone, et. al. 2018) Some most significant
methods are as-
 Financial method
 probabilistic method
 strategic method
 Mapping method.
As the pharmaceutical company is dealing with the project of launching a new product by
indulging in the product development, and they are also conducting a pre market research which

is very evident. It is highly recommended that a combination of the methods will do justice to the
project management. Research plays vital role in the pharma companies as it is considered as a
prerequisite (Fattoruso and et.al., 2022). As the projects in pharmaceutical companies are very
sensitive and needs to be conducted using accurate methods. Portfolio selection has a very
limited criterion which needs to be taken care of yet the project constraint are many in the
execution of the work and task which are associated with the projects.
Financial method is highly goal oriented method. Here the most vital criterion is the
profitability that is associated with the projects, next is the objectives which are at the centre of
the project. As financial methods are highly parameter with the objective of achieving the high
return on the monetary resources that are used for the project. The return of investment should be
based on the profit maximization which is beneficial for the pharmaceutical company. For the
purpose of screening the projects it is widely used by the managers. Financial methods are highly
successful as well for the individually accessed projects (Amin and Hajjami, 2021).
Probabilistic methods, most popular methods under this are Monte Carlo simulation and
Bayesian theories. These are the method that analyse the possibility of different scenarios by
distributing the chances of outcomes associated with the values. A project in pharmaceutical
company goes on for a long period which requires it to have updated possibilities for each set of
action under the project. The biggest advantage of using this method is ability analyse the risk
factor that is associated with the projects. As Bai and et al., (2021) recommended that probability
method allows the project managers to identify each factor which can bring the risk and
eliminate such aspects by evaluating the probability of the same. Simulation techniques are
helpful in risk analysation.
Strategic method of portfolio selection understands the importance of selecting the right
projects in order to achieve the financial goals and maintain the competitive edge in the market
or industry place. It comprehensively analyses each aspect in detail which has a direct impact on
the objectives. As anything that hinders the achievement of the final goals and objectives needs
to be taken care of. Form the view points of Paiva and et.al., (2019) Pharmaceutical companies
deal with a variety of product lines such as drugs, medicines, general tools, equipments etc. and
before launching any product in the market they need to conduct a research which helps them
understand the market place and scope of the product line in detail. Strategic method helps in
identifying the step by step procedure of portfolio selection for the project evaluation.

Mapping approaches is also a method of portfolio management where main emphasis is
on the parameter and measures which maps the performance of the project by making various
maps, bubble diagrams, matrices which makes it possible to visualize the strategic standing or
position of the firm's product. It is very vital to have a clear vision that gives the idea of how
successful a particular product will be in the market place regarding the research and
development. As company invest huge amount of resources just to get the researches right which
ensures the best product delivery in the market (Marques, Frej and de Almeida, 2022). Here
rightfully done projects are important. Many large scale organizations are using mapping method
which gives them an advantage of staying in touch with the parameters which scale up the
projects.
For the pharmaceutical company which is going to launch a new product and is
conducting a market research for the product development, there are multiple method of portfolio
selection which are suitable. Yet company must select a combination of all these methods which
can make the portfolio selection successful in achieving the project objectives. As mapping
methods will gives the advantage of setting parameters against which the performance can be
measures. Strategic method will give the edge of setting right strategies for the goal achievement,
probabilistic method will help in analysing the risk factor attached with the portfolio or project
which will identify the project feasibility as well (Mohagheghi and et.al., 2019). And most
importantly the financial method will help in achieving the financial goals of the company by
making the profitability a realistic objective. Hence, it is clearly evident that each method has its
own advantage and offerings which can benefit the overall portfolio and project. Which makes
pharmaceutical organization to select different methods in rightful proportion which can achieve
the goal.

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