Project Management Methodologies And Differences

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Main Management Methodologies and Differences between them
Difference methodologies used in project management are, PMI PMBOK
PRINCE2
Agile
Waterfall Approach
Depending on the project size and the type we can consider one of the above and can argue one is better than the other.
PMI PMBOK
This is a method produced by project management institute and revised and printed every four years. It includes following identified knowledge areas, Project Integration Management Project scope Management Project Time Management Project Cost Management Project Quality Management Project HR Management Project Communication Management Project Risk Management Project Procurement Management
PMBOK Application on construction industry can be shown as
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The Principles - These are the guiding obligations and good practices which determine whether the project is genuinely being managed using PRINCE2. There are eight principles and unless all of them are applied, it is not a PRINCE2 project.
2. The Themes - These describe aspects of project management that must be addressed continually and in parallel throughout the project. The seven themes explain the specific treatment required by PRINCE2 for various project management disciplines and why they are necessary.
3. The Processes - These describe a step-wise progression through the project lifecycle, from getting started to project closure. Each process provides checklists of recommended activities, products and related responsibilities.
4. Tailoring PRINCE2 to the Project Environment - This chapter addresses the need to tailor PRINCE2 to the specific context of the project. PRINCE2 is not a 'one size fits all' solution; it is a flexible framework that can readily be tailored to any type or size of project.

This methodology stands for projects in a controlled environment. PRINCE2 shares more of the functional and financial authority with senior manager and not solely with project manager. This is a method which provides single standard approach to the management projects and it is very easy to
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The sequence of event is, Idea Analysis Design Development Test Final Product
Once the project scope is defined, project manager will be assigning the teams together with a clearly defined goal and timeline. Different teams get different aspects or modules.

Both waterfall and agile method are iteration. The difference between Waterfall and Agile is that in Agile, module evaluation is in present before it is passed along. In Waterfall method, project flow passes along and along and expect for good outcome.

Conclusion and Recommendations
If you're interested in comparing PMBOK vs PRINCE2 vs Agile and you're wondering about the pros and cons there are several answers. Each of these has it distinct differences. If you're project needs to be small and adaptable, then Agile may be the answer. If the project manager needs to be the sole decision maker, then PMBOK could be preferable and so on. Each project manager will form different opinions and they may even change their mind on which is best based upon changes from one project to the

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