1. Compare and contrast two different project management methodologies.
1)Prince 2
2)Agile
2. Highlighting the key theoretical strengths and weakness of each in relation to different types of project management scenario in a commercial business environment; and
3.Illustrate this with detailed critical analysis of recent, relevant examples of real world, practical application or case studies, involving the methodologies in question.
Kindly focus mainly on Prince 2.
(eg. advantages and disadvantages, differences and similarities, well researched, if possible pls include reports from the company intending to do the case study of.)
Introduction
Structure
Sections
Conclusion
Reference (prefer text books and journals, although websites are ok, not too many).
Answer
Project Management Models
Eskerod and Riis (2009, p.8) clarifies that changes in organizations are delivered through implementation of projects and sharing plans for a project. Project management has developed over the years with some methodologies being available for businesses to utilize. Among the most used methods include PRINCE 2 and AGILE. PRINCE 2 is the world’s most popular project management framework that is made up of integrated different elements. The primary features that PRINCE 2 is based on are the processes, themes, principles, and tailoring of the methodology to suit project needs. On the other hand, AGILE is an approach that uses iterative procedures to determine the requirements of development projects especially for information technology projects (Malik, 2013, p.57).
PRINCE 2 methodology is principles based enabling it to provide a framework that is applicable irrespective of project scale, organization, geography, type of project or culture (Burtonshaw, 2008). This methodology operates under a controlled environment that helps project managers to assign roles to different team members by considering their expertise. The method is also flexible making it easy to make changes depending on the size of the project, objectives, and requirements of the organization. The flexibility in its theoretical approach makes the methodology familiar with project managers.
Bentley (2004, p. 217) explains that PRINCE 2 has advantages that are beneficial to the organization. First, the approach is product based and divides a project into phases making it easy to manage. The division of the project into stages helps the project management to remain focused and ensures they deliver quality work. Second, the methodology improves communication among the team members and as well as the team and the interested external stakeholders. Third is that the team learns how to save time and become more economical when it comes to the utilization of assets and other resources. However, this methodology is disadvantaged in that it does not provide the required level of flexibility demanded by some modern projects. For instance, the software industry is experiencing tremendous growth requiring new and sophisticated innovations. PRINCE 2 may find it difficult to cater for some of these modern projects.
On the other side, AGILE methodology divides a project into sprints that are then assigned to small groups (Cobb, 2011, p. 563). This iterative approach of AGILE ensures that there is adequate monitoring of a project, and also it is possible to make immediate changes as opposed to constant review. One of the pros associated with AGILE is that the iterations provide instantaneous feedback. Additionally, the sprints in the methodology ensure that defects are fewer in the final product owing to quality assurance tests perfumed in each cycle. The method has a disadvantage in that immediate feedback sometimes result to scope creed.
In his book (Maylor, 2010) argues that the two methodologies are similar in that they have a common central theme; the provision of templates, techniques and tools for project management and hence avoiding the need for reinvention. Both methods seek to lower inherent risks arising from undertaking projects. The fundamental difference between the two methodologies is that PRINCE 2 focuses on planning and analyzing the future and caters for possible hazards. In contrast, AGILE is more flexible and requires no substantial changes and networking.
In conclusion, both approaches are essential for project management, but PRINCE 2 proves a better methodology. Vodafone provides an excellent example in a successful application of PRINCE 2. The company applied this approach in 2003 in the ‘’Improving Capability’’ project which ended in 2004. The end results were that the firm was awarded level 3 in both PMMM and P2MM by APM. The company also saved £1.2M from the project (Kujala et al., 2010, p.368).
References
Bentley, C. (2004). Exploring PRINCE 2: how to put together a project brief and deliver a successful project. Oxford: Butterworth-Heinemann.
Burtonshaw-Gunn, S. A. (2008). The essential management toolbox: tools, models and notes for managers and consultants. Chichester, England: J. Wiley & Sons.
Cobb, C. G. (2011). Making sense of AGILE project management: balancing control and agility. Hoboken, NJ: Wiley.
Eskerod, P., & Riis, E. (2009). Project management models as value creators. Project Mgmt Jrnl Project Management Journal, 40(1), 4–18. http://doi.org/10.1002/pmj.20098
Kujala, S., Artto, K., Aaltonen, P., & Turkulainen, V. (2010). Business models in project-based firms – Towards a typology of solution-specific business models. International Journal Of Project Management, 28(2), 96–106. http://doi.org/10.1016/j.ijproman.2009.08.008
Malik, J. (2013). AGILE project management. Place of publication not identified: Shroff Publishers & Distr.
Maylor, H. (2010). Project management. Harlow, England: Financial Times Prentice Hall.
