PRINCE 2 and PMBOK Methodology in Project Management - Assignment Example

Name: Institution: Course: Date: Table of contents Part 1 Overview of PRINCE2 Starting up a Project (SU) Planning Initiating a project Directing a project Controlling a stage Managing product delivery Managing stage boundaries Closing a project Part 2 PMBOK Project cost management Project integration Project time management Project quality management Project human resource management Part 3 Management and Analysis Starting up a Project (SU) Planning Initiating Directing Controlling Managing product delivery Managing stage boundaries Closing a project, success and risks Part 1 PRINCE 2 METHODOLOGY IN PROJECT MANAGEMENT PRINCE 2 is a methodology used in the management of projects. It can be defined as a structured technique that provides effective project management for all kinds of projects. PRINCE2 is an end user product created by users, project management specialists and a review panel of private and public sector organisations. The methodology has become the epitome of project management as it is used as a generic tool flexible enough for any type of plan. The methodology is a process-driven method that contrasts with various adaptive and reactive methods that were developed by the office of government commerce (OGC). It outlines 45 separate sub-processes and composes them into eight processes as described below (Tracy, 2013, n.p ). Starting up a Project (SU) This defines the first part of the methodology where the project team is appointed and a project brief is prepared. The brief outlines the project purpose and the justification of the business end for conducting the project. The overall style of the project is categorical to give the team a clear picture of the next stage of the plan. After this practice is whole, the project panel is given the control authorise the following stage, which is an initiation of the project. Planning PRINCE2 project management method is inclined to product based planning that means its first task after starting up in planning is to select and analyse products. When the activities required to create the products are identified, it becomes conceivable to estimate the required effort for every prospect articulated in the plan (Tracy, 2013, n.p ). Hence, the schedule for the activities is created and incorporated into the plan. In any project, there are risks involved, and this must be scrutinized. Finally, the process will only be completed after suggestions on how the plans for the project are agreed on and the process takes a certain format until completion (Wasson, 2016). Initiating a project In this part of the process, PRINCE2 builds on the work of the start-up activities and the project brief. The process is then turned into a business case. The tactic taken ensures value on the project is agreed together with the overall approach to controlling the project itself. Project files are also created as in an inclusive plan for the task. It then builds up through the creation of the next stage of the plan. However, the resulting action can be presented to the project board in order to assess the viability of the outcomes realized then they can authorize the project itself. Directing a project This sub-process initializes the direction of the project through the leadership of the project board. As articulated in the prior sub-processes the project board is the overall determinant of the project completion. It can authorize a stage plan and the project itself. Directing the project means the board can approve or stop any plans as the project goes on if they have seen slippage or unforeseen circumstances that affect the project. An important aspect of this part is the fact that the board can give ad-hoc direction to a project and the route of project completion. Controlling a stage PRINCE2 asserts that projects have to be broken down into stages where this sub-process dictates how each stage should be managed. Essentially, it includes the process authorized work packages that would be received. The sub-process also specifies how every stage should be monitored, scrutinized, and how the highlights of the advancements should be conveyed to the project board. Furthermore, the process gives a means for capturing, and assessments of the project issues are suggested together with the corrective action taken if any slippages occur. It structures the way issues should be spiralled to the project board. Managing product delivery Product delivery is an important factor when it comes to making sure the clients are contented with the product they pay for. In this stage, the inclusion of the prior three sub-processes is vital. It covers the way work packages are delivered, accepted, and executed. Managing stage boundaries In the “Controlling a Stage” process, one realizes that the essential factor is the dictation of what should be done within the stage. In “Managing a Stage” process, what should be done towards the end of a stage is dictated. Therefore, in this sub-process, the next stage is planned, and the general project plan risk log, and business case is amended as required. This part of the methodology covers what is supposed to be done for a stage that is out of the tolerance levels of the project. After everything is structured as desired, the process dictates how the end of the stage should be presented. Closing a project The project should end as required where the decommissioning follows and the resources freed up for allocation to other activities. It is the sub-process that ensures the project itself is formally evaluated articulating the inclusion of all objectives of the entire project. To conclude, PRINCE2 uses phases and tolerance in making sure the its major aspects of control. Tolerances make sure there is one channel of approval as the board is the only function that makes decisions of the project. This creates a structure that monitors how the project is conducted. Stages make the workload of the project reduced since they are broken down into manageable potions of the project. It creates appropriate management and documentation of the project. Primarily the essential components of the plan are described from when it commences to when it closes. PRINCE2 can be realistic to any type of venture since it is easy to use both in complex projects and in simple ones. It manages the business focus of the task on a progressive structure making it more plausible for the assessors to follow how the project was conducted. Finally, its structure makes sure a certain direction is maintained therefore preventing reinvention of the helm of administration. Part 2 PMBOK PMBOK is a detailed project management structure that gives users points of reference while doing their desired tasks. PMBOK is a widely used practice that was formed in the USA in 1969 by the PMI (project management institute). In this section, a critical appraisal of the important knowledge areas will be used to provide a clear depiction of PMBOK. PMBOK encompasses numerous knowledge areas. However, this appraisal will look into project quality management, project cost management, project time management, project integration, and project human resource management. These five knowledge areas can be considered crucial in the completion of a project (PMBOK, 2009). Project cost management This knowledge area primarily makes sure the project is within the estimated budget. It involves recourse planning, cost estimating, cost budgeting, and cost control as its major processes. When one looks at the importance of this knowledge area, several things present themselves prominently (Tracy, 2013, n.p ). For instance, if a project cost is estimated inappropriately then mishap is bound to tie the completion of the project. Resources needed must be uniformly distributed according to the workload in each stage. A project lacking this aspect of project management will be completed with a bloated budget or not accomplished at all. Project cost control ensures the project runs smoothly within structured budgets, cost estimates and control as well as resource plans. Therefore, it must be considered an essential knowledge area. Project integration Integration management involves the processes needed to ensure that various components of the project are suitably coordinated. It comprises of decisions made among competing aims in a project and the alternatives to meet or surpass the expectations of the stakeholders. It involves project planning, plan execution, and integrated change control. Consequently, this knowledge area is all rounded since it is inclusive throughout the project. A project that lacks this aspect will find it difficult to make thing work appropriately since the integration process was not included in the design process (Tracy, 2013, n.p ). It is important to make the project includes this knowledge area or there would be issues in the completion of the process. Project time management Stakeholders’ value timely completion of projects since it gives them a clear line of thought in terms of what next. Time management is a knowledge area that ensures that projects run at the scheduled time. In this knowledge area, activity definition, schedule control, activity duration estimation, activity sequence, and schedule development make up the major processes in time management. Projects that lack clear periods become a nuisance to the organisations and stakeholders. While considering knowledge areas important in a project, time management must be included (Tracy, 2013, n.p ). Project quality management There is certainly no good intention to conduct a project with no quality systems that appraise the benefits of the project to the end user. Quality management is PMBOK knowledge area that defines the required channels to follow in order to meet quality checks. It encompasses quality planning, assurance, and control. The three major aspects make sure a project is done with all quality standards included. Quality checks determine and eliminate unsatisfactory performance while appraising better ways to reach relevant standards that comply with other quality standards. Projects that will lack this aspect make substandard products, which in turn come to bite back the organisations. Project human resource management This knowledge area works with the project coordinators in making sure there is effective use of human resource involved in the project. It has three major areas of practice (Meredith, & Mantel, 2012, p52). Organisation planning, staff acquisition, and team development entail in project human resource management. Human resource involves a collection of output from groups and individuals in the project. The reason why it is an important aspect in project management is that it revolves around the fact that every person in the project puts an effort towards completion (Tracy, 2013, n.p ). Without human resource management, a project will find it cumbersome if the resources in the project are substandard. This area is essential since it gives the project a staff that will work towards completion of the tasks. Part 3 Managing and project analysis Management of a roof renovation The drive for this project is to make sure the old theatre roof is removed and replaced with a new roofing system. The theatre has had the roof for over 60 years owing to the dilapidated condition it currently experiences. Apparently, changing the roofing will assist the theatre in continued protection of the archived materials in the player’s theatre. Consequently, the roof had major leakages that led to the initiation of a change in the entire roof structure. Management The project management methodology is PRINCE2 with inclusion of concepts from PMBOK. The entire project will run in stages. Start-up The project was expected to take three months in demolishing and fitting the new roofing system. Furthermore, the roofing system is expected to make sure the theatre is presentable in terms of beautification. The roofing will give the theatre a new face in the eyes of the customers who were reluctant in attending plays due to the external appearance of the building. The roofing was the most notable feature when customers entered the premises grounds. Therefore, the roofing system seeks to solve the immediate problem of a dilapidated structure and other functions that involve presentation of the theatre. Initiation In this stage, the project was to be managed in a structured dimension. The entire process is designed to make sure that the deliverables and documentation of the project will function as stipulated in start-up. The project was expected to take a period of three months. The initial part is demolition of the theatre hall since it is the crucial point. Then the commissioning of the foyer will happen after the change of the roof in the hall section. The project board gives authorization of the project. Direction of the project This stage was initiated with the prospects of making sure there is perfect synergy in the human resource management and the project that was ongoing. The project board saw to it that the entire plan is executed in the required manner. The project was managed towards timely completion of demolition so that the roofing process of installation may be installed in speedily. Control The stages of demolition and construction were identified and broken down into manageable potions. Instead of the traditional aspect of collective working, human resource was partitioned into the people who would demolish the collectors of the waste material from the exercise, installers of the new roofing and the experts who would give instruction on how the fitting would be conducted. This developed a standard way of reporting progress. As the workers who were executing the demolition, the rest of the groups were preparing on how to make sure they stayed in the required timeline. The project board ensured they were informed of the progress to ensure there was synergy among the groups. Managing the product delivery The entire project was cultured in delivery of a perfect product that restored the beauty of the monument. The entire teams maintained the required standard of the product. A group of structural engineers managed the entire roofing phase ensuring everything was placed according to the principles of structural engineering. Roofing material was inspected to assist in giving the desired product. Managing stages The board regulated this stage where they made sure the process was done as desired. The process was maintained as the groups conducted the required tasks. Constant supervision was maintained from the time commenced. Coordination was paramount since every group depended on the other. Closing the project The project was successfully completed with some time at hand. The board did the decommissioning of the project after the stakeholders assessed the product giving the project team an ample time to clean and vacate the premises. Successes During the project, there was notable advantage in the completion of the project. This was due to partitioning of the project stages. It was evident that with smaller potions managing the risks in a project is rather easy as compared to traditional ways. Another success was the fact that the entire project was performed in succession. Apparently, this gave the groups time to plan prior their phase of work approached. A prominent success was realized in the resource management of the project. A good team creates a conducive environment for both technical and normal workers. Risks The risks that presented the team were in the completion of the project, as they had to wait for each team to complete their part before starting theirs. These were based on the outer layer of the theatre organisation, the general environment, and the operational entity. The project witnessed a shortage of labour, which made it bulky for the project team. References Great Britain. (2009). Managing successful projects with PRINCE2. London, TSO. Meredith, J. R., & Mantel, S. J. (2012). Project management: a managerial approach. Hoboken, NJ, Wiley. Tracy, J. (2013). PMBOK ® guide: edition five 200-question sample PM exam ®. Wasson, C. S. (2016). System engineering analysis, design, and development: concepts, principles, and practices. Read More