Project Management Assignment Sample
METHODOLOGIES AND THEORIES
Introduction
Project management methodologies are generally selected by project managers in alignment with that of various deliverables of a particular project. Project management methodologies help to take up a project forward within a certain systematic framework to ensure meeting up project goals as well. Projects generally tend to vary in terms of their sizes as well as the requirements of men, money, and materials. Moreover, some projects require flexibility while others require more of a controlled approach. Project management methodologies are to be conjoined properly with all these various aspects of a project to reach optimal solutions for various aspects. Among various project management tools that are found, Agile and Prince 2 project management methodologies are some of the most commonly used ones. Selection of the most suitable Project management methodology is extremely important to ensure project success for that of any project. Matching components of a project with that of project management is the key over here.
Background
Project management is an extremely important factor these days across that of various industries and businesses. Increased level of competition these days demands for selection of a suitable project management methodology that helps save cost, time as well as ensures meeting up of various project deadlines. As per the opinion of Pace (2019), project management methodologies however tend to be widely varied in terms of various different purposes that they tend to serve. Some methodologies like that of Agile and Waterfall help to frame various key aspects of a project regarding the tasks to be done in a systematic manner. Whereas, some other project management methodologies like that of Stage gate are mainly concerned with controlling various key aspects of that of a particular project.
Figure 1: Stages of a Project
(Source: Nagy and Sharshakova, 2020)
Projects that tend to work with that of a huge number of men, material, and resources like that of construction, as well as other developmental works, need to control a project quite strongly at each stage. This reduces the chances of wastage as much as possible at every stage and eliminates chances of financial disablement. As per the opinion of Nagy and Sharshakova (2020), project managers of certain other projects of medium to small sizes like that of those associated with that of community development are moreover concerned with conducting each step of any project as per the pre-approved plan. In such cases, either Waterfall or Agile methodologies are found to be useful.
1st First Project management methodologies/bodies of knowledge
1.1 Pros and Cons
In this primary study, an example can be taken from that of agile project management methodology which is widely prevalent across that of various collaborative projects. According to the opinion of Chavez (2018), this methodology has an edge over that of traditional project management methodologies that just aims to anyhow meet its target. Agile project management methodology gives scope to bend a little wherever required to adapt to certain required changes while a project is being conducted. This methodology is therefore mainly used for various software development projects that need to constantly readapt themselves to become the most convenient one. In other words, agile project management methodology gives space for more innovation, creativity as well as that of various newer inclusions in an ongoing project to ensure an optimal project solution. Moreover, there tends to be a huge possibility of working with that of diverse teams as well as that of various customers to achieve certain deliverables that are demanded by them.
Figure 2: Agile Project Management Methodology
(Source: Chavez, 2018)
Working with that of diverse teams sometimes creates a danger of getting side-tracked from the original goals that were envisioned. According to the opinion of Kahraman (2020), moreover in Agile methodology tasks tend to get broken down into numerous subsidiary tasks that are to be done by teams. In this scenario, constant communication and collaboration become extremely essential to take a project forward. However, sometimes due to a weak link between various divisions or teams this methodology may falter a lot. Besides, a lot of money and other resources may get wasted due to constant planning and replanning.
1.2 Challenges and benefits
Agile project management methodology being a comparatively newer methodology tends to face various problems. This is mostly associated with the issue of adaptability that sometimes happens due to a lack of alignment with that of organizational culture. As per the opinion of O’Donovan (20190, Agile methodology being a broad one requires the usage of broad organizational policies to give this methodology its space for experimentation and innovation. However, some organizations tend to function under a set of a certain stringent set of rules that tends to make it difficult to make this methodology function within that of any particular project. Some companies tend to find it most suitable to function under that of various pre-established as well as time-tested HR practices that have been running for a long time. This tends to create a major hindrance in ensuring a proper adaptation of agile methodology under confirmed rules.
The extent to which changes are to be adapted to suit the needs of that of a particular project, as well as that of an organization, sometimes becomes extremely difficult to emulate. This initially tends to create chaos in those organizations that are unable to find a suitable pathway. However, in those organizations where this change policy can be properly aligned, three appears a scenario of huge prospects for betterment.
1.3 KPIs that can help enhance best practice
KPIs or Key Project Indicators are the criteria that tend to make it possible to measure various aspects of the success of a project. However, these indicators tend to vary hugely in terms of project goals as well as that of a particular methodology that has been adopted. In projects that are associated with software development, a key indicator of success is constant process improvement. Whereas for projects of giant size like that of construction as well as that of other developmental ones increasing cost and time efficiency are key indicators. According to the opinion of Ciric et al. (2018), the agile methodology of project management mainly tends to focus upon various key areas like that of project visibility, process improvement as well as predictability. In this method feedback from that of various associated people like that of customers as well as that of other teams can be taken to integrate them in a project.
A constant discussion at each stage facilitates more flexibility to this project management methodology over most others. This moreover helps in getting higher quality products and services as well at every stage of a particular project. This ensures that each stage is much better than that of the previous one. Increased efficiency, as well as that of cost benefits, are also associated with that of timely delivery of products which is another indicator of success.
1.4 Analysis
Project management methods these days are constantly getting innovated to serve the purposes of that of various projects even better than that of various traditional techniques. Agile project management methodology is one such format that has come to the forefront mainly to bring small changes for the better that were not possible earlier. Agile methodology is therefore quite famous among that of various sectors that are associated with innovation, process, and product development. As per the opinion of Orlov et al. (2021), information technology as well as that of various projects that are associated with social and community development are relying more upon this technique than that of traditional ones. However, in the initial stage of this project management tool’s implementation, some changes have to be implemented to ensure that it can function in a most congenial scenario. In this scenario, mainly problems tend to crop up as various different organizations seem to be sometimes quite reluctant to move from their pre-established norms and processes.
It can therefore be said that just process or product alignment with that of a project management methodology is not enough. The adaptability of the human resources department has to be ensured as well to allow access to better flexibility in terms of manpower management as per the requirement of agile project management methodology. Certain Key Indicators of success are available for this project management methodology as well as that of various others like that of better processes as well as that of reduced cost and time efficiency that has got to be given importance at each stage of the project. The presence of a majority of these indicators is sure to ensure that agile methodology has been successfully implemented in a particular project.
2nd Project management methodologies/bodies of knowledge
2.1 Pros and Cons
Prince2 project management methodology tends to focus mainly upon that of doing a project by formulating a proper framework for that entire life cycle of that of a particular project. This project management methodology is more helpful in those cases where management wants to keep a tighter control of various project resources. This thereby ensures a preplanned visualization of various steps through which a project is going to progress forward. According to the opinion of Daniel, and Daniel (2018), tasks can be easily allocated in those projects that tend to deal with this particular project management methodology. Price 2 project management methodology is mainly applied to those projects that tend to function in a controlled environmental scenario like that of any normal developmental work.
Certain difficulties tend to arise in applying this particular methodology as well in those scenarios where senior management is not experienced enough to ensure timely application of this tool. Preplanning in detail from that of an early stage has been a requirement of this project, making it a necessity for managers to properly visualize a project in detail. In those cases where senior staff does not have as detailed an understanding of that of every bit of detailed requirements, there is a high scenario of faulty implementation that may lead to failure of projects. Besides heavy documentation is another aspect of this project methodology that tends to create a lot of problems in its implementation.
2.2 Challenges and benefits
Prince 2 project management methodology is most useful to give a trusted structure to that of any particular project. A challenging scenario tends to lie in the initial stage of implementation of this project management methodology which is mainly associated with that of the planning phase. In those organizations where there is not a huge availability of mutual understanding among that of various team members and management, Prince 2 can never be implemented. According to the opinion of Florescu and Coara (2018), on the other hand, in those places where there is a general availability of experienced project managers as well as that of managerial staff, there is a huge success if the project is ensured. Project management methodologies like that of Prince 2 tend to give an assured value as various reasons for undertaking that of a particular project are initially accessed in this format.
Figure 3: Key Themes of Prince 2 Methodology
(Source: Noguera et al. 2018)
In those cases where all areas that are backing a particular project can be chalked out, there is a scenario of gaining more trust from that of customers as well that of various other stakeholders of that of a particular project. Therefore, there are some initial challenges in this methodology which when sorted out initially can give huge benefits.
2.3 KPIs that can happenchance best practice
Prince2 methodology is one such methodology that tends to form a perfect union of both qualitative as well as that of quantitative aspects of that of a particular project. Reduced time, as well as cost efficiency, are considered as two most important aspects that are required to drive success for that of any project. In this case, senior management is mainly associated with the formulation of an initial plan for project success, so these two areas are given huge importance in this particular scenario. According to the opinion of Noguera et al. (2018), the better quality of products that are launched along with that of efficiency in the handling of that of manpower through an entire project process is also considered over here. Prince 2 methodology encourages customization within a controlled environment to a certain extent as well. Sometimes this is done by taking feedback from that of a diverse range of people including that of various customers as well.
Feedback and another scope for improvement are constantly integrated at each stage of a project. A heavy amount of documentation is generally done in this particular project management methodology in order to give detailed guidance to various different associated people as well. This format can be cross-checked at times to see whether various project stages are aligning well with that of set-out plans.
2.4 Analysis
Prince 2 methodology is that methodology which is kind of an integration of various aspects of that of other different methodologies. This is considered as one of the key reasons that give scope for adaptability of other project mechanisms in this particular framework as well. This methodology tends to give a huge importance to that planning phase than that of most others. Every stage of a particular project needs to be extremely well planned for project success. Planning is dependent mainly upon the discretion of that of various managerial and other senior-level staff who have got to be clever enough to chalk out a detailed process. According to the opinion of Noguera et al. (20180, senior managers need to understand both external as well as internal factors associated with that of a particular project to make a most contingent project plan. A prior experience of handling this methodology is also essential for most cases as well.
Prince 2 Methodology tends to give a kind of best of both worlds’ scenario where both qualitative, as well as that of quantitative aspects of that of a particular project, are given equal importance. Managers these days want to adapt those project methodologies that tend to allow for a certain level of flexibility under their control as found in Prince 2.
Conclusion
It can be concluded from the above discussion that project management methodologies are available in numerous numbers and most are constantly evolving as well. Selection of a suitable project management methodology should be done through mutual agreement of project management teams as well as that of senior managers. In this particular research two major project management methodologies namely that of Agile and that of Prince 2 have been taken to understand certain key aspects of these two methodologies. Agile is that methodology for which a huge amount of pre-planning is not required as it tends to allow for a lot of flexibility in that of a particular project. However, in the case of Prince2 methodology, a good amount of preplanning tends to be an extreme requirement. Agile methodology mainly sometimes makes it difficult to keep a control over that of various resources due to extreme flexibility. However, this is not so in the case of Price 2 as changes tend to happen mostly in a controlled environment. Besides analysis of project goals needs to be sorted out from that of an initial stage of that of a particular project from the start. This is to be aligned with that of desired project management methodology.
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