Project Management Methodologies And Critical Evaluation - Samples

Question: Discuss about the Project Management Methodologies And Critical Evaluation. Answer: Definition of project management methodologies and critical Evaluation As defined by Leau et al (2012), theproject management methodology is a mix of rigorously defined and logically related methods, practices and procedures. This logical combination helps in determining the best way to develop a plan, control and at the end to deliver a project through the continuous implementation process. In this way a project can be successfully completed and terminated. On the other hand, according to Kerzner and Kerzner, (2017), aproject management methodology is a systematic approach to counter the risks related to the projects so that project teams follow a planned approach in order to attain the predefined goals and objectives through the project. Presently there are numerousproject management methodologies that are selected and used according to the complexity and requirement of the projects. Some of these methodologies are Waterfall, PRINCE2, PMBOK, Scrum etc. Role of project management methodology in project management In any project theproject management methodology helps the project team to control and manage the project through an effective decision making process. In this way, the methodologies ensure the success of used processes, tasks, techniques as well as technologies (Jamali Oveisi, 2016). In other words, it can be said that a project management methodology provides a skeleton for the project managers to describe the stages and process in depth. It helps in specifying the schedule of the different tasks, deliverables according to the client specification and budget of the project. Stages like the planning, resource allocation, scoping of realistic expectations for the projects and the required tasks helpful in completing project successfully. With the efficient sopping of the project deliverables and resource allocation it becomes easy to complete the project in the scheduled time and budget. The initiation, planning, execution, monitoring phase helps in systematic implementation of different tasks or processes provides the project team to have a logical break required for important decision making. Selection of the project management methodology Selection and role of the methodology in the project management For this section we have selected the PRINCE2 project management methodology. This methodology mainly depends on the business justification while dividing a project into multiple easily manageable stages. In addition to that this methodology provides flexibility at different phases of the project. The main features of this project management methodology includes, product based approach for planning of the project, predefined organization structure for the project team, flexibility which may be used at any appropriate level of the project. The PRINCE2 can help and benefit the project team in following ways. The PRINCE2 provides a consistent, common approach for managing the project, organized and controlled start of the project. In addition to that, it also provides consistent reviews of progress in the project against the project plan. In addition to the, the PRINCE2 also helps in defining roles and responsibilities for the different team members of the project team. In this way, the team members will know exactly for what or which deliverable they are responsible (Jamali Oveisi, 2016). In addition to that project team constantly focuses on the quality of the project. Deliverables after each stage is continuously checked against requirements of the project. Comparison and contrast between the PMBOK and PRINCE2 Appropriate knowledge of PMBOK methodology and its different processes helpful for elimination and identification risks related to the project which may be faced by project team in the project lifecycle. In the similar way PRINCE2 project methodology helps in risk identification and elimination as it divides the whole project in multiple controllable segments. Again in case of the resources allocation and scheduling of the different tasks, both the methodologies in somehow similar manner (Boud, Cohen Sampson, 2014). Like PMBOK methodology ensures that the team does not face these type of issues by determining and setting achievable goals and objectives for a project. On the other hand, the PRINCE2 methodology works in a related manner and resources as well as budget are planned at start of a project. Difference between the PMBOK and PRINCE2 One of the advantages of PRINCE2 of the PMBOK project management methodology is, the progress of the project can be studied on a consistent basis during execution phase. In case of PMBOK, it seems difficult to control the deliverables and process of execution during the execution phase (Chaves et al., 2016). PRINCE2 methodology mainly deals with planned project implementation process, whereas in case of PMBOK methodology, it has thoughtful usage in learning the different project management processes. Evaluation of the role of PRINCE2 in PLC Project life cycle refers to all the steps involved from the start to finish of a project. The selection of the methodology for a project is highly associated with the steps of the project life cycle (PLC). Basically the ICT projects have different phases like initiation, planning, development and deployment or closure of the project. PRINCE 2 is an ICT project management methodology which is used worldwide for controlling and managing every stages of a project. This methodology helps to understand and control the flow of a project to achieve the desired level of success. According to Matos Lopes (2013), following PRINCE 2 as the method of project helps to minimize the risks involved in different stages of project. The stages of PLC included in the PRINCE 2 methodology are initiation of the project, stage boundaries, ad hoc direction and closure of the project. It can be concluded that the PRINCE 2 methodology is related with the PLC in terms of controlling pf the stages of an ICT project. It helps to manage the flow of a project by segregating the total work into several particular phases. The stages of PLC and PRINCE 2 are different from each other but the end goals are same. References Boud, D., Cohen, R., Sampson, J. (Eds.). (2014).Peer learning in higher education: Learning from and with each other. Routledge. Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Chaves, M. S., Arajo, C. D., Teixeira, L., Rosa, D., Jnior, I., Nogueira, C. (2016). A new approach to managing Lessons Learned in PMBoK process groups: the Ballistic 2.0 Model.International Journal of Information Systems and Project Management,4(1), 27-45. Jamali, G., Oveisi, M. (2016). A Study on Project Management Based on PMBOK and PRINCE2.Modern Applied Science,10(6), 142. Karaman, E., Kurt, M. (2015). Comparison of project management methodologies: prince 2 versus PMBOK for it projects.Int. Journal of Applied Sciences and Engineering Research,4(5), 657-664. Kerzner, H., Kerzner, H. R. (2017).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Leau, Y. B., Loo, W. K., Tham, W. Y., Tan, S. F. (2012). Software development life cycle AGILE vs traditional approaches. InInternational Conference on Information and Network Technology(Vol. 37, No. 1, pp. 162-167). Matos, S., Lopes, E. (2013). Prince2 or PMBOKa question of choice.Procedia Technology,9, 787-794. Svejvig, P., Andersen, P. (2015). Rethinking project management: A structured literature review with a critical look at the brave new world.International Journal of Project Management,33(2), 278-290.