Disadvantages Of Using Model-Based Methodologies
The purpose of this report is to describe five advantages and disadvantages of using project management approach based on model-based methodologies (i.e. PMBOK & PRINCE 2). This report also includes recommendation to combine the two above mentioned methodologies to obtain the benefits in executing the project and correct the deficiencies of each model in execution of specific project.
REFRENCES:
The Project Management Body of Knowledge
(PMBOK® Guide) – Fifth Edition
PRINCE2TM 2009 Edition
PROJECT NAME: RASTANURA DETAIL ENGINEERING – WORK SHARE
ADVANTAGES:
Using the model based methodologies provided me a structured approach as described PMBOK & PRINCE 2, which enabled me to capture all elements of the project upfront (during initiation process). The process/procedure also helped me to educate project team on various elements/requirement and their relationship/ dependencies to create a workable & accountable team environment.
These models/ methodologies supplied project with a controlled and organized start, middle and end/close out. It helped to review of project progress against the plan and also ensure reporting to the management & stakeholder at the right time & place during project execution with good communication guide between project and organization. It also helped me to focus on delivery (i.e. why, when & to whom) as promised to stakeholders.
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The underlying difference between the PMBOK and PRINCE 2 is that the PMBOK offers the project manager a considerable array of information about proven practices in this field and invites the project manager to apply these where they deem appropriate whereas PRINCE2 provides a more prescriptive (although flexible) set of steps for the project manager and teams to follow. In short PRINCE2 provides the project Model (recipe) and PMBOK provides several ingredients for project manager to imply them case to case basis for project specific requirements during execution.
The benefits in allowing both PMBOK and PRINCE2 to co-exist. PMBOK provides the academic knowledge resource that is useful in enhancing the profession of project management. PRINCE2 provides a useable process model that can be applied directly by project managers and teams from a diverse range of backgrounds to produce consistent project management and project
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