Comparison Of The PMBOK With PRINCE2 Methodology †Free Samples

Question: Discuss about the Comparison Of The PMBOK With PRINCE2 Methodology. Answer: Introduction: Project managementgenerally refers to the practice for the purpose of initiating, planning, execution, controlling and closing of the work done by the team. This is done so as to achieve a certain goal which meets all the specifications in a certain interval of time (pundak, 2014). Whereas the project methodology generally refers to the five differentproject management phases or the process which mainly includes the define, plan, launch, manage, and lastly the close. Each of the phases is associated with addressing the specific aspects of managing a project that is from the define phase to the close phase (Kerzner Kerzner, 2017). This report mainly discusses about main project methodologies, comparison of the PMBOK with PRINCE2 methodology and lastly how PRICE2 is related to the PLC or project life cycle. Project Methodology Project management methodologies generally refers to the guiding process for those who are involved in the project (Pinto, 2015). This methodologies are generally used by the project managers for the purpose of employing their design, planning, implement and achieve the objectives of the project. Project methodology can be divided into many categories some of them are listed below: Agile: Scrum Waterfall RAD (rapid applications development) NPI (New Product Introduction) PRINCE2 Kanban Six Sigma DMAIC Outcome Mapping Role played by project methodology in project management: Project methodology mainly helps in controlling of the projectmanagement in different ways and this includes effective decision making and solving of the problems. Project methodology is also essential for the success of a specific process, approaches, techniques, methods, and technologies (Burke, 2013). It can be stated that project methodology provides the skeleton for the describing all the steps involved in the project management. This in turn would help the project managers to achieve success by implementing proper amount of effort according to the schedule, budget and the specification of the client. Comparison of Project Management Body of Knowledge (PMBOK) with PRINCE2 methodology PMBOK or project management body of knowledge consists of users who find it this more significant framework for the management of contract, management of scope and other aspects that are possibly less robust than those of the PRINCE2 (Snyder, 2014). Despite of this there are many users of the PMBOK who are not happy about the way by which the system limits the process of decision making by the project managers (Matos Lopes, 2013). This initially makes it difficult for the handing over of the various aspects of the management to other parties and senior managers. By making use of the PMBOK it seems that the entire responsibility of the decision making, planning, problem solving, human resource and other process is given to the project managers PRINCE2 or Project in a Controlled environment is a project management program which is associated with much sharing of the functional and the financial authority with the senior management section not only with the project managers like that of PMBOK (Ghosh et al., 2012). This program is associated with focusing on giving aid to the project managers about overseeing the projects on behalf of the senior management section. A single standard approach is provided to management of the projects and due to this reason various Government as well as Global organizations choose this methodology. It is also very much easy to use providing the facility of learning in an easy way (Karaman Kurt, 2015). There are many users who thing that this methodology misses the importance of soft skills which should be one of the main focus of the project managers. PMBOK PRINCE2 Provides comprehensive information for all the aspects of project management This is associated with the practical project management methodology and is based on the 7 principles. It is driven by the requirements of the customers It is driven by the business case This is considered to be an knowledge based approach for project management This is an process based approach which defines the what, when, who and how through the 7 process of management Associated with describing the core practices and the wide range of techniques which can be applied for the purpose of managing a project This is associated with the 7 process of management which generally defines what is to be done, when and how it must be done and lastly by whom. There are two levels of certification and they are CAPM and PMP There are 3 levels of certification and they are namely foundation, practitioner and professional. Relation of PRINCE2 Methodology with Project Life Cycle PRICE2 is a project life cycle which is based upon the six major processes that is from beginning of a project to the completion of a project. The Planning and the Directing are the two continuous processes which is associated with supporting the other six processes. The starting of the PRINCE2 project life cycle dose not consist of the original needs, generation of solutions and feasibility studies. This means that they are considered as the inputs for the project life cycle or perhaps as a different projects (Lianying, Jing Xinxing, 2012). It is to be stated that PRINCE2 makes assumptions about the fact that the project is running within the context of the contract and no other activities are included within the context of the contract along with this it also does not include the activity within the method itself. Three main techniques are described by the PRICE2 and this includes the "Product Based Planning", "Quality Review" and "Change Control". Conclusion: The report helps in concluding to the fact that for the successfulness of the project there is an essential need of selecting the right project management methodology. For the purpose of selecting the right methodology there are number of factors which needs to be considered. There are strength and weakness of each methodology. All the methodologies are divide into mainly three parts and this includes the planning, implementation and analysis. References: Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Ghosh, S., Forrest, D., DiNetta, T., Wolfe, B., Lambert, D. C. (2012). Enhance PMBOK by comparing it with P2M, ICB, PRINCE2, APM and Scrum project management standards.PM World Today,14(1), 1-77. 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. Lianying, Z., Jing, H., Xinxing, Z. (2012). The project management maturity model and application based on PRINCE2.Procedia Engineering,29, 3691-3697. 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. Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK () guide.Project Management Institute: Newtown Square, PA, USA. pundak, M. (2014). Mixed agile/traditional project management methodologyreality or illusion?.Procedia-Social and Behavioral Sciences,119, 939-948.