Project Management Stages - Essay Example

Some of them are; lean, iterative, incremental, and phased approaches. One should consider the project objectives, timeline, and cost. (Lewis, 36)

The traditional approach identifies steps to be followed which are:
Initiation
Planning and design
Execution and construction
Monitoring and controlling systems

Completion
Prince is an approach that was released in 1996 as generic project management. it focuses on the delivery of products to be specific to their quality requirements. It helps define a successful project as being output-oriented through creating an agreed set of products that define the scope of the project and provide the basis of planning and control. Prince2 provides a common language for all participating in a project. Critical chain project management is a method of planning and managing project execution designed to deal with uncertainties in managing projects while considering the limited availability of resources. It is an application of the theory of constraints to projects. Event chain methodology is another method that complements the critical path method and critical chain project management methodologies. Event chain methodology is a network analysis technique that is focused on identifying and managing events and event chains that affect project schedules. (Denis, 89)

Project control is the incorporation of process-based management. It is driven by the use of maturity models such as the capability maturity model integration. Agile project management is another approach based on the principles of human interaction management. Lean project management is another approach that uses the principles from lean manufacturing to focus on delivering value with less waste and reduced time. Due to unnecessary costs and low maneuverability in many cases extreme project management, which may be used in combination with process modeling (Dennis 23)

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