Project Management Report: Prince2 vs. PMBOK Methodologies

This report delves into the realm of project management, offering a comprehensive analysis of different methodologies. It begins by establishing the fundamental principles and significance of project management, emphasizing its role in planning, organizing, and executing projects effectively. The report then provides a detailed comparison between two prominent methodologies: Prince2 and PMBOK (Project Management Body of Knowledge). It highlights their core principles, strengths, and weaknesses, as well as their practical applications. Furthermore, the report explores the relationship between Prince2 and the Project Life Cycle (PLC), illustrating how Prince2 processes align with the various stages of a project, from initiation to closure. The report concludes by summarizing the key findings and emphasizing the importance of selecting the appropriate methodology for successful project outcomes, referencing various sources. This report is a valuable resource for students and professionals seeking to enhance their understanding of project management principles and practices.

Running head: PROJECT MANAGEMENT
Project Management
Name of the Student
Name of the University
Authors Note:

1PROJECT MANAGEMENT ReferencesReferences
Table of Contents
Introduction..........................................................................................................................2
Project methodology and its role in project management...............................................2
Prince 2 vs PMBOK........................................................................................................2
Prince 2 in relational to PLC (Project Life Cycle)..........................................................4
Conclusion...........................................................................................................................4
References............................................................................................................................6

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Introduction
Project management is nothing but certain discipline which is generally used for
establishment of principles, methods and policies for proper management of projects. Project
management mainly analyzes the planning, organization and implementation of project
(Elkington & Smallman, 2012). In the coming pages of the report following areas like the
methodology of project management Body of knowledge (PMBOK) and Prince2 with
similarities and difference will be discussed in the coming pages of the report. In the coming
pages of the report proper relation has been established for project life cycle for the chosen
methodology that is Prince2.
Project methodology and its role in project management
The project manager makes use of certain goals and objective for proper completion of
project in given time and budget. Irrespective of field, project manager makes use of certain
methodology which helps them at every stage that is from initiation phase to closing phase
(Fervers et al., 2013). A methodology can be defined as a method or technique which can be
easily be used by various project manager for having range of function that is from designing to
achievement of goals. These stages are design, proper planning, use or implementation and lastly
followed by achievement of goals.
Prince 2 vs PMBOK
Prince2 stands for Project Management in Controlled Environment while PMBOK stands
for Project management Body of Knowledge. PMBOK model can be defined as standard and
guide methodology on the contrary Prince2 methodology is considered to be structured Project
Management (PM) methodology (Parker et al., 2013). Prince2 is the considered to be practical

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methodology or technique and it mainly focuses in some of the critical zones of the project while
PMBOK model is considered to be comprehensive in nature. PMBOK comprises of ten
knowledge zones while on the contrary Prince2 model consist of sevens models in it. PMBOK
model contains specific methodology or techniques for particular project (Wideman, 2012).
Prince2 model is process based method or approach for proper management of various types of
projects.
Roles of Prince2 are generally divided into three levels. The bottom level is generally
managed by team manager, project manager and highest level is maintained by broad of project.
PMBOK model in general offers various project manager a proper information about project and
it also helps the project management in analyzation of methodology in different domains (Pitman
et al., 2014). PMBOK methodology provide various resource which helps in upgradation of
knowledge. Prince2 model in general provides information which can be easily used by different
project manager which are from different domains.
Prince 2 in relational to PLC (Project Life Cycle)
Prince2 is considered to be process based method or technique which is used for
management of project. Prince2 model consist of five stages which are directing of project,
starting up project, initiation of project, proper management of boundaries, controlling of stage
and lastly closing phase of project (Prabhakar, 2016). This particular methodology comprises of
various stages like initiation, proper guide, monitoring, stage boundaries and lastly closing of
project.
Initiation phase of project comprises of four methods like risk involved in project,
Configuration of project, proper communication of strategies which are involved in various
project generally comprises of various techniques (Siegelaub, 2014). In this technique the

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project manager generally comprises of authorization of beginning phase of the project. Prince2
methodology mainly emphasizes on monitoring or analyzation of various process which are
generally related to various manager of project (Yeong, 2017). Different stages or methods are
involved in prince2 provides project board with various decision point which are involved in
project.
Conclusion
From the above discussion it can be easily concluded that the following report is all about
various methodology of project management. Proper definition about project methodology and
its role in project management has been discussed in details. Proper analysis on similarities and
difference between the two model has been done in the above pages of the report. In the last
stage of report, the chosen methodology that is Prince2 in relation to project life cycle has been
done. All the steps of Prince2 and PMBOK methodology has been done briefly.

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References
Elkington, P., & Smallman, C. (2012). Managing project risks: a case study from the utilities
sector. International Journal of Project Management, 20(1), 49-57.
Fervers, B., Hardy, J., Blanc-Vincent, M. P., Theobald, S., Bataillard, A., Farsi, F., ... &
Pinkerton, R. (2013). SOR: project methodology. British journal of cancer, 84(s 2), 8-16.
Parker, D., Charlton, J., Ribeiro, A., & D. Pathak, R. (2013). Integration of project-based
management and change management: Intervention methodology. International Journal
of Productivity and Performance Management, 62(5), 534-544.
Pitman, A. J., Slater, A. G., Desborough, C. E., & Zhao, M. (2014). Uncertainty in the simulation
of runoff due to the parameterization of frozen soil moisture using the Global Soil
Wetness Project methodology. Journal of Geophysical Research:
Atmospheres, 104(D14), 16879-16888.
Prabhakar, G. P. (2016). Projects and their management: A literature review. International
Journal of Business and Management, 3(8), 3.
Siegelaub, J. M. (2014, January). How PRINCE2 can complement PMBOK and your PMP.
In PMI global congress proceedings (pp. 1-7).
Wideman, R. M. (2012). Comparing PRINCE2® with PMBoK®. AEW Services, Vancouver,
BC, Canada.
Yeong, A. (2017). The marriage proposal of PRINCE2 and PMBOK.