Assignment On Project Methodologies Defined-Myassignmenthelp.Com

Question: Discuss About The Assignment On Project Methodologies Defined? Answer: Introducation Project methodology is defined as the set of rules and standards provided to the project team for managing the project. It makes the job of the project manager lighter and easier. The guidelines and the template help in successful delivery of the project. The flexibility can be associated with the approved design. The project methodology uses top down approach for evaluating the progress in terms of goal, deliverables, and objectives. Role of methodology: The methodologies are used for managing the tasks with the limited amount of time and resources. The methodologies help in defining the project scope, constraints in time, availability of resources, and needs of project delivery. The series of subsequent steps is organised for completing the project. Types of project management methodologies: Agile Methodology: The aim of this methodologies helps in empowering the teams by encouraging the involvement of customers and managing the risks associated with the project. This methodology is usually derived for team development, monitoring of the project, responsiveness in relation to Business. The continuous communication should be arranged throughout the lifecycle of the project. Waterfall Methodology: The waterfall methodologies help in effective utilization of the team. The different roles and responsibilities are allocated to the different team members of the project. The completion of the assigned task helps in reaching the goal of the project. The waterfall methodology does not allow changes in the scope of the project. The phases involved in the waterfall methodology are specification of the requirement, designing, construction, integration, debugging and testing, installation, and maintenance. Prince2: The Prince2 methodology is based on the facts and standards. It follows the process based approach for managing the project. System development life cycle: The software development project follows the conceptual model for the management of the project. It is the accumulation of different methodologies. The documentation preparation is the major concern area of the system development life cycle. Project management body of knowledge: PMBoK is the collection of standard terminology and guidelines for managing the project. It provides the complete management of the project in terms of critical path method and work breakdown structure. It is useful for financial forecasting, management of the organization behaviour, budgeting, management science, and others (Skogmar, 2015). The success of the project depends on knowledge, skill, technology, and tools. The inputs required for the processes are documents, design, and plans. The outputs received from the input provided to the methodology are documents, design, and plans. The project methodologies which are mostly preferred are PMBOK and PRINCE2. The PMBOK and Prince2 is the substantial framework for managing contract, scope, and other robust practices. The decision making capability of the project manager can be improved by initializing these methodologies. The primary decision maker actively participates in planning, problem solving, management of human resource, and others (Ghosh, 2012). The following table show the high level comparison between prince2 and pmbok: Particular features PRINCE2 PMBOK Defined as It follows the structured approach of project management It is the set of rules and standards which act as a guide for project manager (Chin Spowage, 2015) Critical areas Critical areas are practically focused Critical areas are comprehensive focused Knowledge areas and themes associated Prince2 methodology depends on 7 themes PMBOK methodology depends on 10 knowledge areas Associated activities and processes It is the collection of 35 activities and 7 themes It is the collection of 45 processes and 5 process group Principles It makes use of 7 principles There are no such principles applied Technology Specific techniques are applicable Every process involves specific technique Focus on interpersonal skills Not focused and covered Focused and covered Coverage Business case, processes, and product It focuses on the need and requirement of the customers Role played by the board of directors Regular meetings are arranged for oversight Only suggestion given by the sponsor Factors responsible for organizational and environmental assets Focused partially Focused completely Principles of management Exceptions are taken into consideration None The following table shows the difference between the methodologies on the basis of coverage areas: Themes of Prince2 Coverage of PMBOK Comments Business Case Reviewed periodically Emphasis given on reviewing continuous business case Organization Covers the areas of stakeholder and human resource Stronger mechanisms used by the PMBoK Quality Focuses on quality management - Plan Management of scope, time, and cost - Risks Management of risk - Change Processes used for monitoring and control - Progress Processes used for monitoring and control - The following table shows the knowledge areas covered between the PMBoK and prince2: PMBoK Prince2 Result Integration management Partly focused on integration mechanism Completely focused on integration mechanism (Matos, 2013) Scope management Planning - Cost management Planning - Time management Planning - Communication management Partly focused Completely focused Human Resource management Based on organization theme Strongly used in PMBoK Project risks management Risk associated with the project (Rad, 2013) - Procurement management Not covered Only focused and covered in detailed in PMBOK Stakeholder management Partly focused Completely focused Relation of PMBOK and Prince2 with project life cycle: The PMBOK is used in the project life cycle to select the set of appropriate processes which is used for meeting objective of the organization. The defined approach is used for adapting the product specification to comply with the project requirements (Vieira, 2014). The requirements are defied according to the need and expectation of the stakeholders. It keeps the balance between competing demand of the product quality in terms of time, scope, quality, and costs. The prince2 methodology is used for managing the quality of the project by indulging the concept of quality and control and assurance tools. The work packages should be clearly defined and handled. The consistency can be maintained by using the quality tools in the management system. The quality control is focused on working products manufacturing (Wideman, 2012). The text oriented deliverables are the key feature of the prince2 methodology which can be preferred for future reference. The following diagram shows the interre lationship of project life cycle with Prince2 and PMBoK methodologies: Conclusion: The PMBOK guide is worldwide accepted by the project manager or managing the project in the right direction. The project can be easily adapted according to the changing requirement of the customers. References: Chin, C., Spowage, A. (2015).Project management methodologies: A comparative analysis. Accounting from https://cibw117.com/journal/index.php/performance-info-and-value/article/viewFile/75/73 Ghosh, S. (2012).Enhance PMBOK by comparing it with PRINCE2 and P2M standards. Retrieved from https://pmkb.com.br/uploads/2013/08/95598999-Comparison-of-PM-Frameworks.pdf Karaman, E. (2015).Comparison of project management methodologies: Prince2 versus PMBoK for its project. Retrieved from https://www.ijaser.com/articles/vol4issue42015/vol4issue4/JASER4059.pdf Matos, S. (2013).Prince2 or PMBoK- A question of choice. Retrieved from https://www.sciencedirect.com/science/article/pii/S2212017313002417 Rad, N. (2013).Project lifecycle in Prince2. Retrieved from https://www.projectsmart.co.uk/planning-lifecycle-in-prince2.php Skogmar, K. (2015).Prince2 and PMBoK guide. Retrieved from https://www.axelos.com/CMSPages/GetFile.aspx?guid=4bf6bd26-2805-4b7f-8cba-c56a899eb871 Vieira, D. (2014).Integrating PMBOK standards, lean and agile methods in project management activities. Retrieved from https://research.ijcaonline.org/volume88/number4/pxc3893680.pdf Wideman, R. (2012).Comparison prince2 with PMBoK. Retrieved from https://pdfs.semanticscholar.org/6d9f/811b7e5e95242b9f2e0fd18753a6f453bc8d.pdf