Engineering Management Project: Prince 2 and PMBOK - Assignment Example

Engineering Management Project: Prince 2 & PMBOK Institution: Name: Date: Student ID: Table of Contents Introduction 2 Prince 2 3 Seven themes of Prince2 4 Business theme life cycle 4 Seven Processes of Prince2 6 Benefits of Prince2 8 Comparison of Prince2 compared with PMBOK 8 Similarity of Prince2 and PMBOK 8 Differences between PMBOK and Prince2 9 Engineering Management Project Analysis 10 Best method between PMBOK and Prince2 13 Reasons why Prince2 is the best 13 Reference: 14 Introduction Engineering project management involves some process and activities from the start until the end of a project, some of the methods applied or rather used in order to facilitate a systematic and easy approach in terms of work, time and financial management among other keys aspects included in a project (Hodgson, 2003). The two project management discussed in this document are Prince2 and PMBOK, Prince is cited as one of the project management methods widely used since its considered to help in the task assignments such as allocating people responsibilities of given tasks in a project, among other reasons why the Prince2 is widely applied in a number or rather various engineering project management is because of some of the following projects it comes along with such as been a teachable method also repeatable, scalable and flexible, among many other many benefits. Besides such benefits the Prince2 doesn’t guarantee success in a project since the Prince2 doesn’t work instead is the people working on the project alongside the other factors included in a project such as time, finances, team members skills and communication among other main success determining factors. Also on the same the Prince2 is divided or rather have seven this that facilitates the smooth starting and ending of a project. The other method is the PMBOK which is a guide like that sums up knowledge within the professional project management as published by the Project Management Institute of United States of America, also the United Kingdom has a guide similar that that one of the United States of America even though is not structured and widely used as compared to that of United States of America. PMBOK is divided into two sections namely, Project Management Framework and Project Management knowledge areas that are used for the start to the end of a project (Morrise, 1999). Prince 2 Prince 2 is defined as a project management method, Prince 2 has been cited as one of the project management methods widely used since its considered to help in the task assignments such as allocating people responsibilities of given tasks in a project. Another considerable help provided or rather that comes along with the Prince 2 is the provision of sets of process alongside with useful information gathered throughout the work process (Kerzner, 2005). Even though Prince2 is a useful project management method but it doesn’t guarantee success in the projects carried out using this method since this entirely depends on the people involved inform of team members, time, budget among other aspects that contribute to the success of a project. Irrespective of not having the Prince2 guarantying success of a project, its considered to be of success since its can be applied by organizations in a number or rather to various environments, projects of different sizes projects and also in various industries. Prince2 project management method has a number of this with each theme having a role of its own (Bert et al. 2006). Seven themes of Prince2 The seven themes are as follows; Business case, organization, quality, plans, risk, changes and progress. The theme for business case entails ideas or rather an idea that is of considered potential value for an organization thus the theme how the idea can be developed or rather transformed into investment proposition that’s viable (Dai et al, 2004). Business theme life cycle Business case theme has a life cycle that divided into three cycles, with the first one been the start cycle that entails development and production of a benefits review plan. The other cycle which is the middle cycle that entails maintenance, verification, benefits confirmations and updates of benefits review plans, the last cycle is the end cycle that’s contains the confirmation of benefits and update benefits reviews plans (Max, 2002). The other theme of the Prince2 project management method is the organization theme that’s responsible for project sponsorship and work allocation to the managers responsible. Functions of normal line management are not suitable since projects tend to be cross. Project management in the temporary Prince2 have the roles and responsibilities assigned to the project management team. The quality theme in the Prince2 explains the development of an outline for the sake of all participants to understand the attributes other products quality that’s to be delivered. In this theme of Plans it explains the development of the outline so as the participant to comprehend the products quality attributes that are to be delivered (Lewis, 2003). The plans theme has the following approaches that support the above statement that’s the designing of the plan which followed by definition and products analysis that equivalent to product based planning, next is the activity is the identification and dependencies which is later followed by the schedule preparations and finally the plan documentation (Hodgson, 2003). The four stages that is from the definition and products analysis up to the schedule preparations all undergo a risk analysis to ensure the product delivered is per the quality attributes as required or rather expected. The risk theme address or rather looks into how uncertainties are managed in the project management plans and the wider environment of the project. The other theme is the change theme that explains how the project management responds upon issues that are of potential effect or rather impacts on the project at the baseline aspects. With consideration to unanticipated issues, quality failure for instances and unanticipated problems (Kirksey, 1990). In support of the change theme the following steps are followed that is the capture phase which entails the determination of the type of issues that is if the issue is of type severity, priority, log or even register, the following step is the assessment impact on the objectives (Morrise, 1999).which is later followed by the identification, recommendation and evaluation of options, the next phase is the decide phase which entails the approval rejection or deferment of a plan, the last plan is the implementation phase that entails update of records plan. Progress theme explains viability of the ongoing plans by looking into the process of decision making for approval of plans, and also precise performance and the escalation process monitoring incase plans do go as per the plan. In short it how and whether the project should go on. The process of the Prince2 covers all activities that’s the beginning until the end of project, they are designed in a way they projects are tailored applied and can be tailored as per individual requirements. They processes are based on a range of different principles that can be introduce into project’s organization into aspects such as development of the Business Case, risk management, ensuring quality and change control, to certain that the end product fits the purpose (Max, 2002). Seven Processes of Prince2 The seven processes include; starting up a Project which explains how initial ideas qualify and appointment of a board of project representatives of users, business interests and suppliers. The proceeding process is the directing a project it addresses the steps that be taken for the purposes of provision of an effective steerage with less time commitment by the project board members (Bert et al., 2006).Initiating a project is the next process that explains how a project fully qualifies in order to have it to reach its objectives ultimately thus ensuring buy-in of organizations before resources are majorly committed. The next process is the managing stage boundaries it address project board reviews how they are prepared in the progressive and discussion of future plans, conditions handled out of tolerance. Controlling a Stage in this process it address the daily steps a Project Manager takes in the management work, upcoming or rather arising events and rising issues. Managing product delivery process looks into the steps teams are expected to take to agree Work Packages, progressive reports and also delivery of complete work. The final process is the Closing a Project that explains how to closure of a project, also how to handle follow-on actions and also post-project benefit reviews (Kerzner, 2005). Prince2 principles include learning from experience, business justification continuously, and focus on products among many others. The roles and responsibilities of Prince2 include involvement of project owners, suppliers and users in formal decision making to ensure attention and clarity of project objectives. Roles are of different types as follows; Project board guidance that entails specific guidance for senior managers who are involved in sponsoring or direct projects example is suggested agendas for Project Board reviews among others (Dai, 2004). Benefits of Prince2 Among the benefits of the Prince2 is besides, Prince2 being a teachable method it is also repeatable, scalable and flexible. Another benefit arising from this project management method Prince2 is the involvement of management and stakeholders at particular situations and points has lead to encouraged good communication between the project, project management and stakeholders (Max, 2002). Comparison of Prince2 compared with PMBOK Similarity of Prince2 and PMBOK Prince2 and PMBOK project management methods have a number of similarities and also differences in their project managements. Among the similarities include that of Integrates and co-ordinates all project plans to create a consistent, coherent document. Project planning where both keenly take into consideration the planning of a project from the start until completion for example the PMBOK it considers the planning of a project as perhaps one of the most important document for successful project, with inclusive of executable activities in a project plans and also integrated change control since co-ordinates across an entire project change (Max, 2002). Prince2 has a similarity to PMBOK in this aspect of planning in that it’s planning an idea is understood on the basis of a broad outline which explains the development of an outline that’s understood by its all participants without the project for quality product delivery reasons (Morrise, 1999). Another similarity between the two methods that is PMBOK and Prince2 is that of risk management whereby both have measures or rather outlined means to ensure any arising risk are looked into and can be handled in case the arise, like in the case of Prince2 it tells of risk measures include Projects typically which entails more risk than stable operational activity thus the Prince2 has come up with a theme known as the risk theme that explains how project management manages the uncertainties in its plans and in the wider project environment (Bert et al, 2006). While for PMBOK it also addresses risk as an element of unknown impact thus a project should be broken down or rather divided into packages of work, manageable in other word bite size chunks to reduce the occurrence of an impacted risk effect. Another similarity between the PMBOK and the Prince2 is that of change like in the Prince2 it has been addressed inclusively as one of the themes, it’s know as the change theme that explains assessment and respond upon issues that arise and may have potential impact on the aspects of a project thus any unanticipated problems requests for change or quality failure instances (Kerzner, 2005). Differences between PMBOK and Prince2 Among the differences between the two project management methods that’s PMBOK and the Prince2 include the following; Prince2 stretches roles and responsibilities of include involvement of project owners, suppliers and users in formal decision making to ensure attention and clarity of project objectives. While as for the PMBOK the roles and responsibilities are entitled and entrusted to the project manager, who is expected to use experience & obtain advice from experts in order to make sure that all is successfully completed or rather ended as required for the project (Morrise, 1999). Another difference between the PMBOK and the Prince2 is on the part a project conclusion since in the case of Prince2 project management method it only explains of how closure of a project is conducted and also how to handle Follow-on Actions and post-project benefit reviews, while as for PMBOK the “true” life cycle continues up to eventual point of demolition of a building with an estimate for every £1 spent on a construction costs will result to a £5 spent on maintenance & £200 spent on operating costs over a 20 year period, this principle is known as the 1:5:200 principle. Engineering Management Project Analysis Project management is unclear within the current literature what makes a success or a failure. Some of the told and thought as success or a failure in the project success include the economic outcomes are considered measureable, another thought of a project management success is the suggested wide range of performance this is one criteria that’s suggest to be or maybe a measureable or rather a judgmental option of the extent of a project management (Kirksey, 1990). Among other considerable facts that facilitate or rather bring about success or more so failure in terms of project management is that of the different stakeholders that may include or rather an example of the stake holders can like government, commercial clients, Project Partners, Contractors and Suppliers of services and products. In this context a research carried out on different engineering management projects show that and in particularly this one of large portion of the United States of America electrical grid have pointed or rather indicated that one of the causes of failure in a engineering management project is as a result of information technology and Information System project failures thus leading to the failures of this vast electrical grid that entails engineering project management, the core cause of this failure can be traced to lack or rather more so mismanagement of the grid, also management continuity and system that has incentives that encourages overall optimism that can be attained from doing projects (Max, 2002). Another cause of failure in a project more so engineering project is the high expectations from users that’s the end users of the project. The IT part that led to the failure in this United States of America electric grid is due to what was considered as poor alignment between the business users and the IT department this is considered as one of the key contributors of the American electric grids failure. On the same note of the United States of America failure in its electric grid is the issue or rather the factor of incompetence or poor communication by project managers who act as cops of the process and compilers of reports who incase of loosing motivation and sight of what is the are entitled and expected to conduct or rather do in ensuring proper and effective running of projects, lead to an engineering project management failure like in the case of the American electric grid. According to (Hodgson, 2003), “projects fail – that’s the fact of life. Too many fail because the average project is like an iceberg – 9/10ths of it lay hidden from view”. Another project failure in the field of engineering more so in there management is according to (Lewis, 2003), “On average, about 70% of all IT-related projects fail to meet their objectives.” In this particular case Lewis includes all projects in this sense that not only those projects that considered failure and were thus abandoned, but inclusive of those that also were defectively finished or rather in other words completed as a result of time overruns, cost overruns, or were either considered not to provide all of the expected functionality as originally promised. Another factor that relates to this project that’s the United States of America electric grid success is the presence of good communication channels amongst the project team members, customers and other stakeholders thus making it easy t identify the cause of the failure of the electric grid and proper gathering of information along the way in the project development. According to (Kirksey, 1990), tells of “that one predictor of project success is when communications are kept honest and open between customer and vendor”. His main indication of a failing project is I the area is when project manager of an IS fails to correctly read warning signs that are communicating there is a break down, thus the result is improper opportunity in the correction a situation that requires immediate response before it’s too late. Another factor that lead to the success of the American electric grid is due to good planning, that had a good forward planning with detailed planning inclusive of the planning process, stages of implementation, tasks timelines, positions in case of a fall back in the electric project management and finally re-planning. Notice that initial planning is not enough. Projects often take wrong turns, or initial solutions prove unfounded. Another part of the success of the United States of America electric grid project is the understanding of the team members in terms of the electric project management thus able to know an undertake the expected roles in order to meet or rather achieve what is expected. From the project it teaches on the aspect of good communication among all the stakeholders in a project in order to achieve a common goal, also avoid uncertainties and incase of any that arouse one is able to come with solutions of how to go about in the problem solving. Another lesson learnt is on the issue of proper understanding of the project mainly by the team members so as to be able to know how to respond to arising reactions in a good way and also so that one can be to focus on achieving what is expected of the project. Best method between PMBOK and Prince2 Based on the comparison between the two methods that’s the Prince2 and the PMBOK the best for a project management in this case that one of engineering is the Prince2. Reasons why Prince2 is the best Due its comprehensive application in a project in terms of planning, measures placed in case of arising risks and other emerging issues that require changes since this has been well undertaken as stipulated in the themes of change and plan. Another reason why Prince2 standouts to be the best is because it applicable in even large industries thus it’s scalable and flexible. Another benefit that has made the Prince2 project management widely used and hence the best is that it’s ability of inclusion of all staff members and stakeholders in decision making thus facilitating good communication channels among those involved in the project and so in the management of the project as compared to that of the PMBOK method where the project manager uses skills and consults experts when it comes to decision making. Another reason why the Prince2 is the best method when it comes to project management is that of it’s provision of managerial controls that are automatic when it comes to project plan deviations thus a convenient method. Reference: Bert Hedeman, Van Haren Publishing, Gabor Vis van Heemst, Hans Frederiksz. Project management: based on PRINCE2, Van Haren Publishing, 2006. Print Dai, C. X., Wells, W.G., 2004. An exploration of project management office features and their relationship to project performance, International journal of project management 22, pp. 523–532 Hodgson, (2003) “Unfinished Voyages: a follow-up to the CHAOS Report”,Standish Group Report, http://www.standishgroup.com/sample_research/unfinished_voyages_1.php Kirksey, Kirk A, (1990). “Storm Warning: Danger Signs During Software Implementation”, Health Management Technology, 11, 6; pg 35 Kerzner, H. 2005. Project Management: A Systems Approach to Planning, Scheduling, and Kirksey, Kirk A, (1990). “Storm Warning: Danger Signs During Software Implementation”, Health Management Technology, 11, 6; pg 35 Kerzner, H. 2005. Project Management: A Systems Approach to Planning, Scheduling, and Lewis, (2003) “Am Empirical Investigation of the Factors Affecting Data Warehouse Success”, MIS Quarterly, Vol. 25 No.1, pp 17 – 41. Max, W. R., 2002. Comparing Prince2 with PMBOK,Working paper, AEW Service Vancouver – Canada, http://www.maxwideman.com. Morrise, P.1999. Updating the project Management Bodies of knowledge,Working paper, http://www.indeco.co.uk/filestore/UpdatingthePMBodiesofKnowledge.pdf Kirksey, Kirk A, (1990). “Storm Warning: Danger Signs During Software Implementation”, Health Management Technology, 11, 6; pg 35 Kerzner, H. 2005. Project Management: A Systems Approach to Planning, Scheduling, and Read More