The Evaluation of Project Management Methodologies - Term Paper Example

MANAGEMENT METHODOLOGIES-REPORT Contents 1.0 INTRODUCTION 2 2.0 THE PMI METHODOLOGY 2 2.1 The Logistics of the PMI 3 3.0 THE PRINCE 2 METHODOLOGY 4 3.1 The Principles of the PRINCE 2 Methodology 5 3.2 Logistics 6 4.0 WHY I PREFER THE PRINCE 2 METHODOLOGY 8 5.0 CONCLUSION 10 REFERENCES 11 THE EVALUATION OF PROJECT MANAGEMENT METHODOLOGIES 1.0 INTRODUCTION The selection of a project management methodology is one of the most challenging and important decisions made before the launch of any project. I discuss two project management methodologies in the essay with a detailed analysis of each. The methodologies under discussion are the PMI and the PRINCE 2 project management methodologies. Afterward, the essay covers the criteria used in the determination of the most suitable methodology for my work. The internal criteria used in the decision-making process is the consideration of factors such as the people involved in the project, the processes through which the project must undergo, the available technologies that enable the project, and the nature and size of the project. 2.0 THE PMI METHODOLOGY The PMI methodology involves the breakdown if a project into five process groups. The process groups include the initiation, planning, execution, controlling, and closing. The method recognizes forty seven processes that are condensed into the 5 processes as indicated. The implementation of the project processes and logistics follows the five processes where the adherence to the procedures in addition to the training guarantees a smooth flow of operations and the likelihood of high success rates of such a business[Flá08]. The first process is the Initiating group that involves project charter development and stakeholder identification. This process also involves the control of the type and extent of stakeholder involvement. The other is the planning group that includes all the processes involved in planning such as the creation of the WBS, the definition of the scope, and the determination of the budget. The executing group is involved with the execution of the project plan[Cyn13]. It also involves the management of the communications, team management, and conducting procurements. There is the controlling group that tracks the project status and development and tracks it. Issues such as the quality, scope, and cost are taken care of by the controlling group. The closing group is the final phase that is involved in the completion of the project including the closing procurements and logistics[Cyn13]. 2.1 The Logistics of the PMI The PMI methodology also employs ten areas of project management such as the project communication management. This area deals with the processes of information dissemination in a continuous, reliable, and relevant manner. For instance, the information is shared among the team members and the relevant stakeholders (internal and external). The other is project cost management that deals with the budget and funding options for the project. It also deals with the logistics of the allocation of funds and the timing of the implementation of certain actions of the project to ensure that they are cost effective and efficient in their operations. The estimate made from the overall project and the time management determines the course of the project cost management[Pro13]. There is the third knowledge area that deals with the management of human resource. It focuses on the issues related to the management of the project team. They include such factors as professional development, the assignment of roles, hiring, fostering the team spirit, and hiring. There is the fourth area as stipulated by the PMI methodology, the integration management. The integration processes define, coordinate, and consolidate the other activities involved in the project management. This knowledge is essential for the setting of the project expectation and the maintenance of open communication lines. The other classification involves the budgeting, planning, and purchase of such resources. The resources may involve physical and informational resources essential for the completion of the project. There is the additional quality management of the project that involves the evaluation of the project at every stage of implementation and development to ensure continuous improvement throughout the project. The consideration of the project as complete is dependent on the quality management processes and the subsequent outcome. There is the risk management of the project that prepares the project for unexpected risks. Besides the preparation for unexpected risks, the process incapacitates the project to prepare for such risks as disasters and implementation mishaps. The project scope management deals with the regulation of the project parameters to ensure the proper definition of the scope and the adherence of the project to the scope limit[Pro13]. There is the stakeholder management that identifies the parties on who the project and its activities have impact. After the identification of the stakeholders, it is essential that the project, through the facilitators, creates and maintains a relationship with them. The stakeholders are considered in the determination of the direction of the project and its execution. Finally, there is the time management of the project. The timely completion of the project within the set time is also considered in the PMI methodology. 3.0 THE PRINCE 2 METHODOLOGY The PRINCE 2 methodology best works for projects that are done in controlled environments. The planning uses a product-based approach where the product is the main focus of all the activities selected for the project. The methodology applies high-level activities that are owned and controlled by the project board. Such high-level activities include resource allocation and the justification of the business. The project manager has the direct control of the other regular activities that involve setting of the schedules and day-to-day activities. The method allows for effective risk mitigation measures and more centralized control of the resources and activities[Kev16]. 3.1 The Principles of the PRINCE 2 Methodology The PRINCE 2 methodology consists of five principle roles. The roles include the customer, the user, the supplier, the project manager, the project managed in conjunction with the project team, and the administrator. In addition to that, the methodology applies a process with seven phases. The first is the startup phase that includes activities such as the submission of the project mandate. The project mandate consists of the importance of such a project and what it should accomplish. It is concise and is followed by a review to see the capability of the organization in taking up such a project. It is only after approval that the person that initially submitted the mandate details on the project and the specific requirements and proposed methodologies for the implementation of the activities[Rut]. The other phase involves directing the project through board reviews and evaluations of its viability. The reviews are followed by the allocation of a manager to such a project. After the selection of the manager, the manager takes up his role to plan the project proceeds such as the creation of the documentation of public proceeds. It also includes the creation of a project plan that is viable and comprehensive. The plan includes six performance targets such as the time, quality, scope, cost, benefits, and risks. The initiation documents must be sent to the board once more for approval. After the approval, the manager then starts on the finer arrangement proceeds where he breaks down such a project into much smaller packages for easier implementation and completion[Rut]. 3.2 Logistics The management of the delivery of such a product involves checking the progress of the project and ensuring its compatibility with the previously prepared project brief. The board reviews the results and may request for changes or revisions. The stage boundaries are also managed whereby all the stages are reviewed to see if the project proceeds as planned. Finally, the last stage is the closure of the project where the loose ends are tied up and the documentation and reporting follow[1612] . The management techniques of the PRINCE 2 methodology are the heart of the methodology. They include project assurance and project support. Project assurance is responsible for the objective observance of the project development. The project assurance involves the evaluation of the feasibility of the project for the establishment of its viability and sustainability. The results of the benefits of the project are determined after evaluation and the determination of the costs and benefits of the project. The assurance may be done by the manager. However, depending on the size of the project, it could be done by the quality assurance team for effectiveness and the simplification of the work load of the manager[Emi14]. The PRINCE 2 methodology involves structured and defined project management techniques that follow up to address various issues. The issues include what the agenda of the project is, what the project seeks to accomplish, when the project can be launched, the requirements for all the processes involved in the implementation of the project goals, whether there is need for external assistance or not, the time required to complete the project, and the projected time the project might take. The answers to the questions create the building block for the PRINCE 2 methodology[Axe16]. According to the PRINCE 2 project management methodology, the ideal project is one that has a defined and organized start. Such involved prior detailed and clear organization to avoid mishaps along the way. The middle mush also be organized and also controlled for the smooth continuity of the project. The end follows the requirements, which helps in tying up any loose ends[Dun15]. As a result of the strict organization of the project team in the PRINCE2 methodology, the process involves numerous meetings, updates, need for accurate and timely records, and strict documentation. It is common for the project manager to be in sole control of the project and all the important decisions and decision-making processes. The project consists of a clear outline of various break points and controls for the effective control of the project. The careful planning, control, and allocation of duties and responsibilities allows for the effective application of changes and modification throughout the various stages of the project. The quality of the participants of the project and the effectiveness of the management determine the success of the project. The methodology does not guarantee such success but the adherence of the plans and procedures does[Dun15]. The project manager plays a continuously significant role throughout the project where he or she is responsible for the organizational and control functions of the project management. It is the role of the manager to select the people expected to deliver in the project implementation and ensure that the participants deliver. The project plans are followed as set by the manager who plans and draws them. The customers/ executives are responsible for the financing role of the project. The customers, users, and suppliers are responsible for the coordination of the project implementation processes to ensure the positive outcome. The project board becomes involved when the manager is in need of counsel or in cases when the business is under a phase of crisis[Jih15]. 4.0 WHY I PREFER THE PRINCE 2 METHODOLOGY While the PMI is considered as the recognized and required standard of project management, the PRINCE 2 methodology is more of a methodology of choice among project managers. The PRINCE 2 methodology also allows for effective risk mitigation measures and more centralized control of the resources and activities. It ensures that the management of the project is effective throughout the process of the project ranging from the formulation to the implementation and evaluation. The method also allows for effective risk mitigation measures and more centralized control of the resources and activities[Kev16]. The popularity of the use of the PRINCE 2 methodology in the public and public sectors is prevalent in the UK. Although the methodology requires the extra input of coaches for training with regard to the method of project implementation, the investment is worth it because it is adaptable for all types of businesses. The adaptability is suitable for different sizes of businesses from different industries and market places. The implementation of the methodology does not only involve training but also the establishment of the best practices of project management. The energy and resources invested in the project make the skills valued and they are eventually incorporated into the organizational culture. Such organizations benefit from the improved governance of such projects and organizational activities. The method also involves a certain level of professionalism that is essential for the recommendation of the organizational practices and culture[Rut]. Taking the PMI and the PRINCE2 project management methodologies, the PRINCE 2 methodology presents a centralized leadership structure required for the implementation of the project. However, depending on the nature of the project, the techniques might require a team or an individual to control the implementation and evaluate the possibilities[PRI16]. The PRINCE 2 project management methodology is a process-based management method. The application of the PRINCE 2 methodology ensures the clear definition of the project participants and their duties and roles. The methodology includes a series of procedures to be followed in the various stages of the project and the necessary information for application throughout the project. The use of the PRINCE 2 methodology requires accredited training because of the complexity of the method and the numerous constituent angles of operation. Such training equips the participants with the relevant knowledge of the terminologies and procedures. It is easily adaptable and projects of different sizes can apply it and modify the methodology to suit their needs and activities. That includes the short-term projects that run for a few days to the long-term projects that last a longer time. Many participants wonder the nature of the application of such principles as those of the PRINCE 2. There are many instances when the project staff adhere to all the fine details of the formalities as instructed in the training, which is unnecessary. There are other instances when the staff may apply extreme shortcuts, undermining the essence of the methodology that leads to less effective results as expected of the application of the methodology. In most cases, organizations may need help in the implementation of the PRINCE 2 methodology for projects because of the technical details required of the methodology. Assistance is sought where the organization intends to use the method for the first time or in cases where the full benefits of the method are not realized. Businesses that are strict with adherence to the relevant processes and those that hope for accreditation for their project management practices. 5.0 CONCLUSION The adaptability of the PRINCE 2 methodology is suitable for different sizes of businesses from different industries and market places. The implementation of the methodology does not only involve training but also the establishment of the best practices of project management. The PMI methodology, on the other hand, is decentralized and allows for independent decision-making processes by the different subdivisions during project implementation. Whereas the two methodologies are applicable, the PRINCE 2 methodology exhibits the centralized project management traits I hope for my project. It requires more financial investments before the launch of the project because of the technical training required of the people expected to participate. However, such shills are maintained within the organization and the replication of the same procedures becomes easier the next time there is need for such. The objectivity if the decision made with regard to the project is assured because of the active involvement of the project manager and the board. The selection of a project management methodology is one of the most challenging and important decisions made before the launch of any project and the use of the correct methodology is essential for the success of a proposed project. REFERENCES Flá08: , (Santos & Cabral, 2008), Cyn13: , (Snyder, 2013), Pro13: , ( Project Management Institute, 2013), Kev16: , (Adler, 2016), Rut: , (Court, 2016), 1612: , (Spacey, 2011), Emi14: , (Bonnie, 2014), Axe16: , (Axelos, 2016), Dun15: , (Haughey, 2015), Jih15: , (Roudias, 2015), PRI16: , (PRINCE 2, 2016), Read More