Introduction Project management is defined as the methodology, approach and utilizing of tools to manage, organize and deliver a project. The success and failure of the project depends on the ability of the project manager to use the correct methodology and tools for delivering the project successfully. In the same manner, Information Technology (IT) projects also require project management as the entire industry is changing because of rapid developments made in this domain (Brock, 2003, 2). Leaders of the industry have understood the significance of project management and therefore, have developed several methods to deliver IT projects. One of the most common approaches used in this industry are Waterfall project management and Agile project management. The former is a traditional approach in project management, is a sequential model and therefore, one stage has to be completed before the initiation of the other.The later concentrates on providing comprehensive solutions, business and solution analyses and the ability to work under pressure and in turbulent business conditions. This research paper concentrates on discussing the success of IT projects in the lights of broad and diverse resources. For this purpose, waterfall and agile project management would be discussed and then compared. The next section of the paper would concentrate on discussing the importance of risk management in terms of IT project management. The final section of the paper would provide conclusion and recommendations.
Waterfall and Agile Project Management
The waterfall project management approach is a traditional strategy to complete projects. It is based upon using a step by step approach towards the completion of the project. It has four stages in the entire process (Borodzicz, 2005, 100). The first process is to identify the requirements of the project.
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