Project Management Methodologies Business Processes-Free Samples

Question: Discuss About The Project Management Methodologies Business Processes? Answer: Introduction Business processes and activities that are carried out in the organizations in the form of projects are required to be done in such a manner that the objectives and business goals are successfully met. Project Management is a discipline that was developed to allow the business projects to be executed successfully. There are different approaches and mechanisms that may be adopted by the project teams and management to manage a particular project (Axon, 2007). Some of the methodologies that have been developed are agile methodology for project management, PMBOK, PRINCE2 etc. PMBOK PRINCE2 Comparison Contrast PMBOK is an abbreviation for Project Management Body of Knowledge and it is a project management methodology that covers the knowledge areas and mechanisms for efficient management of the projects. This particular methodology follows a knowledge based approach and there are different phases that are present in this approach as project initiation as the first phase. It is then followed by other phases such as planning, project execution, control and the closure of the project (Chaves, 2016). PRINCE2 is an abbreviation for Project in Controlled Environment and it is a methodology that is based upon seven principles. These seven principles define the themes and processes that shall be followed during the project timeline from the starting of the project till its closure (Karaman, 2015). The primary purpose of the development of both the methodologies is to allow the management involved in the project to define a set scheme for efficient management of the project. There may be conflicts and risks that may emerge during the projects and there are guidelines that have been presented under both the methodologies for their resolution (Wideman, 2002). There are certain points that distinguish PMBOK from PRINCE2 that have been included in the table below. PMBOK Project Management Methodology PRINCE2 Project Management Methodology The processes are designed as per the specifications in the customer requirements The processes are designed as per the business cases Knowledge based approach comprising of the guidelines for every knowledge domain Seven processes comprising of seven themes are used in this case The most significant resource is the Project Manager Project Manager is only a medium to form a bridge between the external and internal members of the project Less documentation Extensive documentation Non-perspective Perspective PMBOK and Project Life Cycle (PLC) There are four phases defined and described in PLC as the initiation of the project followed by its planning, project execution and project closure. These phases are further divided in sub-tasks and activities. In case of PMBOK, there are five phases defined and described for the management as stated in the sections above. The nature and the set of activities that are included in each of these phases have a close relation with the ones defined under PLC. The primary difference that lies between PLC and PMBOK is that PLC is a predictive approach with set phases; however, PMNOK is a knowledge based scheme for project management (Ghosh, 2012). There can be variations that may be made under PMBOK as per the customer specifications and project requirements. PRINCE2 and PLC The order of processes that are defined under PRINCE2 have a close relation with PLC as the phases such as starting of the project, monitoring, control and closure are common in both (Turley, 2009). Also, both PLC and PRINCE2 provide a lot of focus on the planning of the project and consider it as the most significant processes that shall be carried out in the project. Conclusion The projects that are taken up by the business organizations in the current times include extremely significant activities and also include a lot of business information. Any error or defects during the project life cycle may be fatal for the project team and the organization as a whole. It is, therefore, necessary that the projects are executed in such a manner that the project objectives are met and the goals are achieved. Project management plays a very important role in this regard as it allows efficient project management and also makes sure that the disputes, risks and conflicts during the project are handled with perfection. Project management methodologies shall be used and applied in the projects as per the nature and type of the project. References Axon, S. (2007). Would you use PMBOK or PRINCE2 for Project Management?. Retrieved 8 August 2017, from https://www.laptech.co.uk/downloads/pmbok_or_prince2_final.pdf Chaves, M. (2016). A new approach to managing Lessons Learned in PMBoK process groups: the Ballistic 2.0 Model. Retrieved 8 August 2017, from https://www.sciencesphere.org/ijispm/archive/ijispm-040102.pdf Ghosh, S. (2012). Enhance PMBOK by Comparing it with P2M, ICB, PRINCE2, APM and Scrum Project Management Standards. Retrieved 8 August 2017, from https://pmkb.com.br/uploads/2013/08/95598999-Comparison-of-PM-Frameworks.pdf Karaman, E. (2015). Comparison of project management methodologies: prince 2 versus PMBOK for it projects. Retrieved 8 August 2017, from https://www.ijaser.com/articles/vol4issue42015/vol4issue4/JASER4059.pdf Turley, F. (2009). An Introduction to PRINCE2. Retrieved 8 August 2017, from https://www.projectsmart.co.uk/docs/prince2-introduction-ps.pdf Wideman, R. (2002). Comparing PRINCE2 with PMBoK. Retrieved 8 August 2017, from https://pdfs.semanticscholar.org/6d9f/811b7e5e95242b9f2e0fd18753a6f453bc8d.pdf