Definition Of Project Management

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Definition Of Project Management

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Definition Of Project Management

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Discuss about the Definition of Project Management.

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Definition of Project Management
The methodologies that are involved in Project Management are considered as a bunch of processes, which cannot be repeated and the methodologies are needed for making a project that is efficient, flexible, and consistent. The methodologies that are involved in project management improves the way of managing all the projects involved in an organization. According to (Kerzner & Kerzner, 2017), the methodologies of project management have all the processes that are needed involved in a project including responsibilities, templates, roles, and description. There is a structure known as WBS (Work Breakdown Structure) and gnat chart, which should all the details of the project. According to the strategy of an organization, methodologies of project management improve the project alignment involved in a project. The competitive advantage is also increased by using the project methodologies in a project because it helps to complete the project faster and with most efficient way. Methodologies also help to lower the cost of completing the project. The requirements of all the employees can be predicted accordingly on priority basis by the help of project management methodologies. As stated by (Schwalbe, 2015), methodologies helps to improve information management especially, in areas that deals with least visibility in organization. The employees or the team members who are involved in a team can improve their performance and skills that are needed to handle a project, also assure the ownership of all processes, and analyze the result in a project. The stakeholders involved in a project are satisfied using the methodologies in project management.
The methodologies plays an important role in project management life cycle. Mostly five different methodologies are present in project management. Fleming & Koppelman, (2016), stated that those methodologies help in solving the processes in projects, which works with project management. The services included in Internet Technology are also provided by methodology of project management. The standards included in project management generally helps in managing and initiating projects carried out in a project. The methodologies involved in project management give some standards providing some new processes and tools so that the job of the project manager becomes easy. The methodologies that are involved in project management generally have definitions, templates, and guidelines that are related with all the activities and processes dealing with a project success (Turner, 2016). All projects that deals with methodologies of project management works on a same ground that is common for all. Objectives are provided by those methodologies that helps to create and design an objective of a project that is comprehensive, accessible, flexible, and reasonable. Some particular disciplines are included in the methodologies that allows the content of the application project to work better and provide a clear judgment for project manager.

Similarities and Difference between PMBOK and PRINCE2 methodologies
Similarities:

Both PMBOK and the PRINCE2 method generally provide bunch of techniques and templates as well as tools so that the projects can be managed and requirements of the projects can be re-invented.
The main goal of PMBOK and the PRINCE2 method helps to handle the projects that have common characteristics and also has the ability to handle the problematic projects (Martinelli & Milosevic, 2016). These methodologies help to input a unique change, accelerate the change, and also provide new deliverables for all the projects that are handled by them.
Both methods helps to reduce the risk involved in projects undertaken by scheduled slippage, delivery of projects that are unsatisfactory, and projects that are overspend.

Differences:

PMBOK method does not give an output that has logs, baseline documents, configuration, and logs. On the other hand, PRINCE2 methods provide all these outputs.
The PMBOK methodology provide processes that has proper guidelines for selecting a tool used in estimation of three point, gathering information techniques, earned value analysis, and matrices of stakeholder (Serrador & Pinto, 2015). The PRINCE2 method does not provide such guidelines.
There should be a regular review on the methodology of PRINCE2 in a business case. The PMBOK method generally looks after the external process involved in the project. The project manager dealing with PMBOK method does not have control on the project after the project has been started.

PRINCE2 methodology in Project Life Cycle
The PRINCE2 methodology of project management is mostly similar to another type of project management methodology known as PMBOK. The PRINCE2 methodology is very much useful for delivering a project successfully in a PLC. In a PLC, there are three factors of PRINCE2 methods, which gives a proper planning for the methodology (Joslin & Müller, 2015). The main factors that are involved are:

All the processes that are involved in project management are managed by stages. In order to prepare for a project, without the method of PRINCE2 it is not possible to handle a project with a detailed plan in realistic way. Practically handling the project with detailed plan is not possible without the PRINCE2 method in a project life cycle. So, all the processes are divided into stages so that it can be handles easily.
Planning for a project is the main way to handle the project with PRojects IN Controlled Environments methodology. The kind of plan that is used in this method is explained in detailed with all the characteristics of the processes involved in the project. Higher level of planning is done while starting the project with PRINCE2 methodology (Heldman, 2018). Stage plans are organized while carrying out the project with PRINCE2 method. Then the project team members execute the project finally.
For starting with the project in PRINCE2 methodology, generally three processes are carried out of all seven processes that are involved in PRINCE2 method.

References
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.
Heldman, K. (2018). PMP: project management professional exam study guide. John Wiley & Sons.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), 1377-1392.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Martinelli, R. J., & Milosevic, D. Z. (2016). Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Serrador, P., & Pinto, J. K. (2015). Does Agile work?—A quantitative analysis of agile project success. International Journal of Project Management, 33(5), 1040-1051.
Turner, R. (2016). Gower handbook of project management. Routledge.

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