Project Management Methodologies

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What is a methodology?

It is a combination of related practices, methods, techniques and processes which determines how project will be developed, planned, delivered and controlled throughout the project life cycle. There are various types of project management methodologies available such as Agile software development, Crystal methods, Dynamic Systems Development Model (DSDM), Extreme Programming (XP), Feature Driven Development (FDD), PRINCE2, Rapid Application Development (RAD), Scrum, Spiral, Waterfall etc. The project manager should adopt an appropriate project management methodology as per the key requirements of the project.

Role of project management methodology in project management?

Project management methodology plays a vital role in project management. By using project management methodology, project manager can easily estimate the time and cost required to develop and deliver the project to the client. The use of project management methodology increases the chances of project success. Nowadays, project management methodologies have been used by most of the project driven organizations to plan, implement and achieve project objectives. Along with this, it is also used by organizations to increase the motivation of project team members and their productivity level. Project management teams can adopt new challenges successfully during project life cycle by using a project management methodology.

Similarities between Waterfall and PRINCE2 methodologies

  • In both methodologies, rigorous planning has been carried out by the project team to achieve project objectives.
  • Both PRINCE2 & Waterfall methodologies provide a sequential approach for planning, developing and delivering projects within defined time and cost constraints.

Differences between Waterfall and PRINCE2 methodologies

Waterfall

PRINCE2

Waterfall methodology follows a linear and sequential process which allows project teams to accurately gather all client requirements in detailed manner at the initial stage.

Projects in Controlled Environments (PRINCE2) is an effective process based approach for project management. According to PRINCE2 framework, the projects should have controlled and organized start, middle and end.

The stages of waterfall methodology consist of requirements gathering, project design, implementation, verification and maintenance.

PRINCE2 methodology consists of seven processes named as “Starting up the project”, “managing a stage boundary”, “controlling a stage”, “initiating a project”, “directing a project”, “closing a project” and “managing a product delivery”.

Waterfall methodology is mainly focusing on efficiency of work.

PRINCE2 methodology is mainly focusing on project quality.

 

Identify how selected project management methodologies relate to the PLC

Project life cycle provides an effective standardized approach through which project management team members can achieve project success. The project life cycle is a combination of four phases i.e. the conceptualization phase, planning phase execution phase and termination phase.

How PRINCE2 relates to Project Life Cycle (PLC)

  • “Starting up the project” is the first phase of PRINCE2 which relates to the conceptualization phase of project life cycle. In both methodologies, the project development begins with the submission of client’s request for a new project.
  • Similarly, “Directing a project” phase of PRINCE2 relates to the planning phase of Project life cycle in which the project manager ensures whether the project is feasible or not.

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