Major Purpose Of Project Methodology Samples †MyAssignmenthelp.com

Question: Discuss about the Major Purpose Of Project Methodology. Answer: Definition of Project Methodology Project methodology can be defined as the five major processes of management of project. As per Burke, 2013, the distinct five phases for managing any particular project are definition, planning, launching, management and shutting down. All of these five phases of project management usually address all the features for successfully managing the project from the first phase until the last. Project management is the proper application of several methodologies or methods, experience, processes, knowledge and even skills to achieve each and every objective of a project. According to Larson and Gray, 2013 this is the simplified practice of initiating, planning, completion, management and lastly ending the group work to attain some of the most important objectives and to meet the success of the project within provided deadline. A project can be defined as a temporary venture, which is designed for the production of a specific product or service. Any particular project comprises of a specif ic start as well as end points. Moreover, it is always time constrained and should be completed within time. Kerzner and Kerzner, 2017, state that technical skills and various management approaches are required for managing these types of projects. This management is called project management. As per Schwalbe, 2015, the major purpose of project methodology is the enabling of the procedure of management in a project by skills of problem solving as well as proper decision making. Sceptically, a project methodology gives a skeleton to describe each step of a project, so that the project manager could easily execute the work within provided time and budget. According to Burke, 2015, the most popular methodologies of project management include Waterfall, Scrum., Agile, PMBOK and PRINCE2. These methodologies are utilized by the manager of the project for completing the project successfully. Few problems are faced while utilizing these methodologies. The vital problem in the project management methodologies is that the guidelines should be followed at every step. When these guidelines are not followed, the methodologies do not work. There is an important role of project management methodology in the PLC. The various methodologies help a project manager in executing each and every process in the project. The significant service that the methodology of project management provides is Internet Technology (Schwalbe, 2015). Various guidelines and standards are solely provided by the methodologies of project management. These disciplines are exclusively required for successfully completing the project. Similarities and Differences between PRINCE2 and PMBOK PRINCE2 is a particular structured methodology of project management. It is completely based on processes and is thus utilized for perfect project management (Matos Lopes, 2013). PRINCE2 is a standard that is used by the government of UK and is widely recognized in all over the world. PMBOK or simply Project Management Body of Knowledge is the set of guidelines and fundamental resources of project management. This guide helps the project manager to attain the goals and objectives of a project. There are few similarities between PRINCE2 and PMBOK. They are given below: i) Handling of a Project: This is the first and the foremost similarity between PMBOK and PRINCE2. Both of these methodologies are utilized for handling each and every project that have the same characteristics simultaneously (Snyder, 2014). Moreover, any complex project can be easily handled and executed by these two methodologies. Both of these project methodologies help to accelerate the alterations and also to provide new deliverables in the projects. ii) Privacy and Security: This is the second similarity between PMBOK and PRINCE2. Both of these methodologies are extremely safe and secured and could be executed by all project managers (Snyder, 2014). Due to the excess security, these two methodologies are widely accepted by all project managers and in many organizations. iii) Cost Effectiveness: This is the third similarity between PRINCE2 and PMBOK (Kerzner Kerzner, 2017). These two methodologies are extremely cost effective and could be easily afforded by all. Furthermore, these two methodologies do not incur huge cost while applying. iv) Tools and Techniques: The fourth similarity between PRINCE2 and PMBOK is that both of these methodologies provide a typical set of tools and techniques for the management of the project. The various differences between PMBOK and PRINCE2 are given below: i) Guidelines: The major difference between PMBOK and PRINCE2 is that PMBOK has certain guidelines for the project and thus the proper selection of techniques and tools is done by these guidelines. PRINCE2 methodology does not provide any particular guideline for its project managers. ii) Project Control: The second difference between PMBOK and PRINCE2 is that PMBOK guide do not any control on project and is unable to keep solid track. PRINCE2 methodology, on the other hand, has control over its project and reviews the project step by step (Matos Lopes, 2013). iii) Output: The third difference between PRINCE2 and PMBOK is that PMBOK cannot provide perfect output for the projects; whereas, PRINCE2 provides outputs to all projects. Relating PRINCE2 with PLC PRINCE2 methodology can be related to PLC (Burke, 2013). The major characteristics of PRINCE2 methodology can be described by two factors. They are given below: i) Managing by Steps: The most important characteristic of PRINCE2 methodology in PLC is that it is managed by steps. There are various projects that are exclusively bigger in size and these types of projects could not be managed without following steps (Turley, 2018). These steps help to divide the entire project into several stages and thus can be easily handled. ii) Project Procedures: There are total of seven procedures in PRINCE2 methodology and only three procedures could be completed out of them simultaneously. PRINCE2 methodology is always considered as one of the most important methodologies amongst the rest and the complexities of the entire project life cycle is reduced with the help of this (Turley, 2018). Moreover, due to the segregation of various steps, it does not require any other guidelines for understanding it. References Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Kerzner, H., Kerzner, H. R. (2017).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Larson, E. W., Gray, C. (2013).Project management: The managerial process with MS project. McGraw-Hill. Matos, S., Lopes, E. (2013). Prince2 or PMBOKa question of choice.Procedia Technology,9, 787-794. Pinto, J. K. (2015).Project management: achieving competitive advantage. Prentice Hall. Schwalbe, K. (2015).Information technology project management. Cengage Learning. Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK () guide.Project Management Institute: Newtown Square, PA, USA. Turley, F. (2018).PRINCE2 Foundation Training Manual. Van Haren.