SCHOOL OF BUSINESS
AN ASSIGNMENT IN PARTIAL FULFILLMENT OF THE COURSE:
PROJECT MANAGEMENT (DOM 602)
TOPIC: PRINCE2 AND PMBOK®
PRESENTED TO: MR. ONSERIO NYAMWANGE
25 JUNE 2012
PRINCE2 is an acronym for PRojects IN Controlled Environments. PRINCE2 is a process-based approach for project management, providing an easily tailored and scaleable project management methodology for the management of all types of projects. It is a de facto process-based method for effective project management (Prince2, 2012). It is described as a structured method for effective project management for all types of project, not just for information systems, although the influence of that industry is very clear in the methodology (Wideman, 2002). PRINCE2 is used extensively by the UK Government and is also widely recognized and used in the private sector, both in the UK and internationally. The PRINCE2 method is in the public domain, and offers non-proprietarily best practice guidance on project management.
The key features of PRINCE2 are:
* focus on business justification
* defined organization structure for the project management team * product-based planning approach
* emphasis on dividing the project into manageable and controllable stages * Flexibility that can be applied at a level appropriate to the project.
Figure 1: The knowledge areas and processes of the Project Management Institute's Guide to PMBOK
PMBOK is an acronym for Project Management Body of Knowledge. It is a collection of project management material provided by the Project Management Institute (PMI), a nonprofit, international project management organization (Kapur, 2003). The primary purpose of the PMBOK® Guide is to identify that subset of the Project Management Body of Knowledge that is generally recognized as a good practice (PMBOK, 2004). PMBOK provides a basic project management framework that provides the basic structure for understanding project management
The standard for project management of a project specifies all the project management processes that are used by the project team to manage a project. PMBOK organizes the project into five distinct process groups namely initiating, planning, executing, controlling and closing processes. The PMBOK organizes the 44 project management processes into project management process groups in nine knowledge areas namely project integration, scope, time, cost, quality, human resource , communications, risk and procurement management.
Figure 2: The comparable PRINCE2 content and usage.
SIMILARITIES AND DIFFERENCES IN PRINCE2 AND PMBOK
PMBOK is not intended to tell people how to do any of the techniques or use any of the tools described. It only lays out the processes, how they link together and the tools and techniques that can be invoked. Somewhat similarly, the application of PRINCE2 must be scaled for the size and needs of the project.
The underlying difference between the PMBOK and PRINCE 2 is that the PMBOK offers the project manager a considerable array of information about proven practises in this field and invites the project manager to apply these where they deem appropriate whereas PRINCE2TM provides a more prescriptive (although flexible) set of steps for the project manager and teams to follow.
Project Life Cycle and Major Processes
PRINCE2 is clearly project life cycle based with six out of eight major processes running from "Starting up a project" to "Closing a project". The remaining two, "Planning" and "Directing a project" are continuous processes supporting the other six. Each of these have their respective sub-process totaling 45 in all. Then, feeding into the system, are six "Components" some of which are documents and others that are themselves processes. PRINCE2 describes three techniques namely:...