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Traditional Approach To Project Management
Traditional Approach To Project Management
Traditional Approach To Project Management
Project management systems help in smooth functionating and supply of product without
any inconvenience. There are different approaches that can be used . Two of the major
approaches are Agile approach to project management and other being traditional
approaches to project management.
Advantages
- The responsibility and requirements are fixed and helps in smooth functioning
- This approach prevents any diversion from the specified instructions as permission
needs to be taken from the project manager who has the ultimate control
- In case of failure , the accountability is fixed as the power is vested only in project
manager and makes it convenient to approach for quick updates
- Standard method for documentation is used and can set a guideline for prospective
projects
Disadvantages
- This approach is rigid and inconvenient for large projects
- The time consumption is more due to formal documentation
Advantages
- Agile projects due to their flexibility suit the needs of modern times
- The interactive team work gives way to creative ideas and gives shared control of the
project to all members
- The project works in divided attainable tasks ensuring constant development
Disadvantages
- There is no set standard to be used to guide for future products
- In case of failure , it is unknown as to who must be contacted for accountability as all
members of team have shared ownership
-
Difference between traditional and agile approach
- The project scale for traditional approach is large scale whereas small and medium
for agile approach
- The customer interaction is very low whereas agile approach has a high customer
involvement
- Traditional approach has standard requirements whereas agile approach changing and
evolving
- Traditional approach is rigid whereas agile approach is convenient and flexible
- The. Process of development for traditional approach is fixed whereas it can be
changed for agile approach
- The project accountability only exists for project manager in case of traditional
approach , whereas, all members share accountability in case of agile approach
- Traditional approach is not convenient for complicated projects whereas , the
complex projects are best suited for agile approach
- Both agile and traditional approach can be used depending on various factors . In the
present times , Agile is a more flexible choice , however , considering several factors,
traditional approach can be more desired. There are certain intricate products which
approach. In cases where there is a team with a high number of people, it is better to use
Traditional Approach . It is better to use traditional approach when requirements are
mentioned with clarity Agile approach shall be used in cases where the requirements are
Question 2
a)By way of aligning a project a set strategy is made out to attain the project goal by
analyzing and fixing resources that may be used in completing a project and helps prevent
failure in attaining the objectives of the organization. It is an effective way to utilize
resources to the advantage of the organizations
Question 2
b)Payback period fails to consider investment risks and cash inflow which happens after the
payback period and therefore does not analyze the all in all profitability considering all
factors. The value of time and money is disregarded by using this method solely. Markov
chains.
c) There are several causes of scope creep and various methods can be used to minimise it