ICT Project Management Report: Comparing Waterfall and PRINCE2

This report delves into the realm of ICT project management, focusing on the significance of project methodologies and their role in successful project delivery. It provides a comparative analysis of two prominent methodologies: Waterfall and PRINCE2. The report defines project methodology and its importance, then proceeds to outline the core principles, strengths, and weaknesses of both Waterfall and PRINCE2. It highlights their similarities, such as the emphasis on time management and documentation, while also detailing their differences, including their approach to project control and process-orientation. Furthermore, the report explores the application of these methodologies within the project life cycle, encompassing initiation, planning, execution, and closure. The conclusion emphasizes the critical role of methodology selection in project management and underscores the need for project teams to choose the most effective approach for their specific needs, ultimately contributing to project success. The report also includes references to support the analysis.

Running head: ICT PROJECT MANAGEMENT
ICT Project Management
Name of Student
Name of University
Author Note

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Table of Contents
Introduction..........................................................................................................................2
1. Definition of Project Methodology and its Role in Project Management.......................2
2. Similarities and Differences between Waterfall and PRINCE2......................................2
2.1. Waterfall Methodology.............................................................................................3
2.2. PRINCE2..................................................................................................................3
2.3. Similarities................................................................................................................4
2.4. Differences................................................................................................................4
3. Waterfall and PRINCE2 in project Life Cycle................................................................4
Conclusion...........................................................................................................................5
References............................................................................................................................7

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Introduction
The report aims in understanding the methodology of a project and its importance and
role project management. The report will be analysing two methodologies of project
management namely, PRINCE2 and Waterfall. The similarities and dissimilarities between
PRINCE2 and waterfall project management methodologies will be analysed in this report. The
significance of waterfall and PRINCE2 project methodology in project management life cycle is
discussed in the following paragraphs.
1. Definition of Project Methodology and its Role in Project Management
A project management methodology is described as a set of guiding principles that helps
a project team in delivering a project is a systematic manner. A project management
methodology therefore guides a project team in implementation of a project (Kerzner & Kerzner,
2017). A project management methodology is defined as a project model that is employed by the
project managers for effective designing, planning and implementation of a project.
Project management methodology has a significant role to play in management of any
project. With the use of methodology, a project can be implemented in a planned manner. There
are a number of methodologies that helps in implementation of a project in a planned manner.
The project management methodologies include Agile XP, PRINCE2, Unified Process,
Waterfall, Agile Scrum and others. The similarities and the distinct characteristics between
waterfall and PRINCE2 project management methodologies is discussed in the following
paragraphs.
2. Similarities and Differences between Waterfall and PRINCE2

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2.1. Waterfall Methodology
Waterfall project methodology is one of the oldest project management methodologies
that are used for implementation of a project (Špundak, 2014). Waterfall project management
methodology follows a sequential approach of project implementation and is heavily focused on
the initial requirements of the project. In waterfall approach, a project is segregated into a
number of phases, which is illustrated below-
Figure 1: Representing the phases of Waterfall Methodology
(Source: Mahalakshmi & Sundararajan, 2013)
However, waterfall model is effective only for small projects. With the increase in
complexities of a project, waterfall model fails to work in an efficient manner.
2.2. PRINCE2

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PRINCE2 is a structured project management methodology which is a process based
model (Saad et al., 2013). It is an effective project management module that is used across the
globe. The similarities and difference between PRINCE2 and Waterfall methodology is
described in the sections below.
2.3. Similarities
The similarities between PRINCE2 and Waterfall are as follows-
1. Both PRINCE2 and Waterfall ensures completion of project within a specified time.
2. Both Waterfall and PRINCE2 methodology provides emphasis on appropriate project
documentation
2.4. Differences
The differences between waterfall and PRINCE2 project methodology are as follows-
1. In PRINCE2, project is implemented in a controlled environment which is not
followed in waterfall project methodology
2. PRINCE2 is a process based approach while waterfall is requirement based.
3. Waterfall and PRINCE2 in project Life Cycle
Project Life cycle can be described as a process of staged implementation of a project.
Life cycle of a project mainly incorporates four phases which are project initiation, Project
Planning, project Execution and Project Closure. The picture below illustrates the phases of
project management life cycle-

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Figure 2: Representing the phases of Project Life Cycle
(Source: Despa, 2014)
Each stage or phase of a project is associated with fulfilment of certain predetermined
deliverables. Both PRINCE2 and Waterfall project methodology relate to project life cycle as it
involves segregation of a project in certain manageable units. In PINCE2 methodology, a project
is generally implemented in a well managed and controlled environment, while in Waterfall, a
sequential approach of project implementation is followed (Matos & Lopes, 2013). For
successful implementation and project completion, it is necessary for a manager or head of the
project to follow the project life cycle in implementation of a project.
Conclusion
The aim of the report was to discuss different project methodologies and its role in
project management. The report analyses PRINCE2 and Waterfall project methodology and
identifies the similarities and the differences between these two project methodologies. It has
been observed that project methodology forms an integral part of project management as
successful implementation and completion of a project largely depends on the choice of project

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methodology. Therefore, it is important for a project team to identify an effective project
methodology for better management of a project.

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References
Despa, M. L. (2014). Comparative study on software development methodologies. Database
Systems Journal, 5(3), 37-56.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Mahalakshmi, M., & Sundararajan, M. (2013). Traditional SDLC Vs Scrum Methodology–A
Comparative Study. International Journal of Emerging Technology and Advanced
Engineering, 3(6), 192-196.
Matos, S., & Lopes, E. (2013). Prince2 or PMBOK–a question of choice. Procedia
Technology, 9, 787-794.
Saad, S., Abdullah, I., Asma, O., Muhammad Saad, K., & Abdul Qadir, A. (2013). PRINCE2
Methodology: An Innovative Way of Project Management.
Špundak, M. (2014). Mixed agile/traditional project management methodology–reality or
illusion?. Procedia-Social and Behavioral Sciences, 119, 939-948.