Project Methodology In Project Management

 Project Methodology plays the vital role in completing the project faster by meeting the project requirements and amplifying the use of time and resources.

The few definitions of project methodology from various authors are:-

Project Methodology is the template or a game plan which provide a standardized way to plan, control, supervise, and execute the task to be finished by prescribing steps, processes, tools, and approaches to be followed. (Marchewka, 2015)

A Project Methodology can be defined as a collection of appropriate, relevant techniques which helps to make the organizational outcomes faster and cheaper by forecasting the resource requirements on priority efforts, by enhancing the skills and performance of project members, by

The main role of project methodology in any project is to provide the desired outcome and managed the overall steps of project by coordinating procedure and resource such as scope, time and cost. It helps to assure the accomplishment of any rules, techniques, and process used during the project life cycle. It provides the appropriate communication, broad overview of different methods, approaches, techniques, standards, technologies and planning prior to the start of project work (ITS Project Management Group, 2014).

2. Choose 1 methodology from this list to compare and contrast with methodology outlined by Project Management Body of Knowledge (PMBOK), analysing the similarities and differences between them both.

 I would like to choose the Agile Scrum Methodology to compare and contrast with PMBOK methodology below:-

Agile

It is the publication of the Project Management Institute (PMI).PMBOK is most important resources which don't predetermine to routing the project management, but rather as the guidebook that compile five key process groups and ten knowledge areas and that are best practice project management.

In summary, PMBOK is the methodology for handling across a vast range of projects (software, building, major events etc.); Agile is a software development methodology that can be enforced to few projects. Both methodologies have a key element in common, they provide the combination of rules, techniques, and procedures for initiating, planning, executing, controlling, evaluating, managing, and delivering the product to increase the characteristics of enterprise project efficiently and effectively.

The major variance between PMBOK and SCRUM is that the PMBOK plans the project scope, time and budget prior to the development of any product, whereas SCRUM is more extensible, the job is segregated into smaller divisions which helps to reduce the risk through initial estimation, analysis and testing. Mainly, Project scope and communication management cannot be performed using the PMBOK guide procedure in a Scrum