PMBoK® – Guide, PRINCE2® & Agile Project Management : Pros And Cons

A number of different methodologies are applied to project management. Since the three most common ones are PMBoK® – Guide, PRINCE2® and Agile Project Management, it is important to weigh the pros and cons of each in comparison to each other. This way you would be able to consider each in context with the project which you undertake. This can be done only when you compare one to the other. In order to assess PMBoK® – Guide vs. PRINCE2® vs. Agile Project Management, each of these systems has to be assessed for general project management.

PMBoK® – Guide

The full form is PMBoK® – Guide is Project Management Body of Knowledge. It is known for its substantial framework. These are good for time management, scope management, cost management and such other aspects. But these are not as robust as PRINCE2®. A negative feature here is that the system allows decision making to the project managers only. This is because the management aspects cannot be handed over to other senior managers. Thus PMBoK® – Guide makes the project manager as the primary decision maker, planner, as well as problem solver, and even the human resource manager and everything else.

PMBOK

 

 

PRINCE2®

The full form is Projects in a Controlled Environment. The benefit here is that this project management program shares functional as well as financial authority with senior management, and the project manager too. In other words, the project manager is able to oversee projects on behalf of the senior management of an organization. This is a highly standardized approach to project management and hence many government as well as private organizations are using this option globally. It is easy to use and easy to learn. This is why even those with limited experience can learn this methodology and make use of it. But there are some users who feel that it misses out on the importance of “soft skills” and that should not be the case.

Prince2 Manual

 

 

Agile Project Management

This is very distinct from PMBoK® – Guide and PRINCE2®. This Agile Project Management  methodology is highly flexible. This means that producing deliverables is easier as substantial changes or reworking is not required. Tasks are broken down into smaller stages hence leading to substantial risk reduction. But this methodology is to be fully grasped to lead to realistic expectations.
As you can see after comparing PMBoK® – Guide vs PRINCE2® vs Agile Project Management; each of these has its distinct differences. Hence the project manager will be the sole decision maker. He needs to decide which is best for the project.

PRINCE2 AGILE