Essay on Advantages And Disadvantages Of Project Management Models

813 Words Oct 9th, 2016 4 Pages
Assignment 1A
Advantages and Disadvantages of Project Management Models
PRINCE2 is an acronym of the project in controlled environments while PMBOK is project management body of knowledge (PMBOK). They are the conventional project management models used today. Whichever model one chooses for project management, it should be able to provide some benefits for the firm. The advantages include:
i. The use of the project management model makes it possible to include all the stakeholders in the project (Thiry, 2002, p.224). Since the stakeholders have a mutual interest, PPM involves all of them to ensure that the scope captures all the requirements for the project. ii. Using a PPM gives an organization some competitive advantage since it creates an understanding in the firm of the expectations of the team. The knowledge of the expectations minimizes variances among the team members in the results of the project. It also encourages the groups to work in mutual understanding, in cooperation to as to deliver high-quality work. iii. The experience and information in models like PRINCE2 and PMBOK make it easy for a company to the adoption and implementation of the models (Westerveld, 2003, p.413). There is a shared understanding of the roles and steps to be followed in the models, and therefore, increases the efficiency in project implementation. iv. The users of the model stand to gain experience, and a recognized skill since the pieces of training of the models are easily…

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