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Measuring and Monitoring Project Performance

Question:

Discuss about the Measuring and Monitoring Project Performance.

Answer:

Introduction:

In the construction, military defense and engineering sector, the activities of project management takes place on informal basis and ad-hoc basis. Until 1950’s, the project management activities were formal and disciplined which began to redefine and are used to widespread among all organizations (Schwalbe, 2015). The approaches of project management methodologies are used to manage the work that are used to specify the way in which the methods are used to initiate, make plan and also execute projects. There are many methods that are involved in project management. The methods are stated as follows:

Agile Methodology: The Agile methodology is used to deliver the work whatever is done by collaborating in an iterative way (Heldman, 2015). The agile methodology aims in team empowerment, encourages involvement of customers and also manages risk and change all through the project life cycle. The main focus of the agile methodology mainly involves in development of the teams, monitoring projects and also response to changes along with the continued communication which is an important aspect all through the life cycle of the project.

Scrum Methodology: The scrum methodology is used to enable a small, self managing and cross functional team so that they can deliver fast.

Kanban Methodology: This methodology in project management helps to improve the speed and the quality of the delivery that is done. This is done by increasing the visibility of the work that is in progress and by limiting the process of multi tasking.

Scrumban Methodology: This methodology limits the work that is in progress in the same way that is in Kanban along with stand up like Scrum.

Lean Methodology: This methodology is used for eliminating and streamlining waste so that they can deliver more with less effort.

XP Methodology: This methodology is known as extreme programming methodology which is used to ensure the quality of the project robustly.

Waterfall Methodology: The waterfall methodology is used for planning the projects and then executes them through all the phases. The teams are the most important part of the waterfall method. Using the teams is considered to be an important aspect in waterfall methodology of project management (Mir & Pinnington, 2014). The team helps to establish clear timeliness and to fulfill goals are the key focus of this method. There are different modules and aspects in which teams are assigned in the project they are involved in. Teams are assigned to take responsibility in the project so that the goals are received or the tasks that are assigned are completed (Turner, 2016). This method believes that to change the scope of the project and communications of the problems are not only enough for managing the project.

The project management methodologies are used to specify the tasks that are needed to be noted and when the methods are to be performed so that the use of resource and time is maximized (Leach, 2014). The methodologies in project management help to outline all the tasks that are present in a project so that they get completed. The subsequent tasks should be kept on mind before the completing the previous ones. The manager who handles the project introduces the strategies of risk management if there lies any hiccups in the organization (Kerzner, 2017). The methodologies that are involved in the project management help to define the project’s scope, the resources that are available and the time constraints and also when the project is needed to be delivered.

Similarity and difference between PMBOK and PRINCE2

PMBOK

PRINCE2

1. There is comprehensive information on aspects of the project management.

1. The PRINCE2 project management methodology is mainly based on 7 principles.

2. Mainly customer requirements are driven.

2. PRINCE2 is driven by business case.

3. The core practices are described and also a wide range of those techniques are applied to the project to manage the project.

3. There is a seven management process in PRINCE2 which defines what is to be done when it is to be done and how it should be done and also by whom the tasks is to be completed.

4. The project management approach is mainly based on knowledge based.

4. The PRINCE2 project management is based on the process base which defines the process of seven management principles.

5. PMBOK is the best practice and is non-prescriptive.

5. The PRINCE2 is prescriptive which can be tailored by the project (Walker, 2015).

6. This method involves the role of project manager.

6. In this method, roles of all the team members are involved such as PM, PA, TM, Project Board and many more.

7. The levels of certification includes: PMP and CAPM.

7. The PRINCE2 has three levels: professional, practitioner and foundation.

PRINCE2 relation with Project Life Cycle

There is much importance in the Life Cycle of Project Management. The PRINCE2 approach is mainly a process based approach in the project management which provides tailored method and also provides scalable methods for managing all the works in a project (Schwalbe, 2015). All the processes in the PRINCE2 project management is defined with the main inputs and the outputs that has specific objectives which is t be achieved and all the activities that are to be carried out (Kerzner, 2013). The activities that are involved in planning are: designing the plan, analyzing and defining the products, identifying all the activities and the dependencies, preparing the estimates, preparing schedules, analyzing risks and also documenting the plan.

References

Heldman, K. (2015). PMP project management professional exam deluxe study guide: updated for the 2015 Exam. John Wiley & Sons.

Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.

Leach, L. P. (2014). Critical chain project management. Artech House.

Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217.

Schwalbe, K. (2015). Information technology project management. Cengage Learning.

Turner, R. (2016). Gower handbook of project management. Routledge.

Walker, A. (2015). Project management in construction. John Wiley & Sons.

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