Project Management Practices

Master of Science Project Management

Aravind Anthony
SID: 2215301

Lecturer: I G Perera

Department of Strategy & Management

University of Bedfordshire

23th June 2023

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Contents
1.0 Introduction...........................................................................................................................................1
2.0 Background...........................................................................................................................................1
3.0 Association of Project Management (Body of Knowledge)...................................................................1
3.1 Pros of AMP Bok..................................................................................................................................2
3.2 Cons of AMP Bok.................................................................................................................................3
3.3 Benefits of AMP Bok............................................................................................................................3
3.4 Challenges of AMP BoK.......................................................................................................................3
3.5 KPI of APM BoK..................................................................................................................................4
3.6 Analysis.................................................................................................................................................4
4.0 Prince 2..................................................................................................................................................5
4.1 Pros & Cons of Prince 2........................................................................................................................5
4.2 KPIs of Prince 2....................................................................................................................................7
4.3 Conclusion on Prince 2..........................................................................................................................8
5.0 Conclusion.............................................................................................................................................8
6.0 References...........................................................................................................................................10

Figure 1 Scale of managing effort Source: APM 6th Edition.......................................................................3

Figure 2 KPIs of AMP Bok Source: Author Source........................................................................................5
Figure 3 Prince 2 Processes.........................................................................................................................7
Figure 4 Prince 2 principles Benefits & Challenges, Source: Author............................................................8
Figure 5 Prince 2 Themes Benefits & Challenges, Source: Author...............................................................8
Figure 6 Prices 2 Benefits & Challenges of Process......................................................................................8
Figure 7 Comparison of Prince2 & APM Bok..............................................................................................11

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1.0 Introduction

Within the ever-evolving field of project management, effective methods and technology are
essential for attaining successful project execution. The APMI Bok (Body of Knowledge) and
Prince2 project management, two widely used approaches, have seen significant growth in recent
years. The objective of this assignment is to undertake a thorough comparison analysis,
exploring the core ideas, procedures, and uses of both APMI Bok and Prince2 project
management technologies. We seek to shed light on each approach's applicability for various
project kinds, team dynamics, and organizational contexts by assessing its advantages and
disadvantages. In the end, this research will enable project managers and stakeholders to choose
project management approaches that suit their particular requirements and goals.

2.0 Background

Prince 2 and the APMI Bok techniques have become common methods of project management
as it continues to develop. While Prince 2 has a strong emphasis on adaptability and iterative
development, the APMI Bok offers a full framework for project management. To better
comprehend project management, this assignment examines the Pros & Cons, Challenges &
Benefits, KPIs that can help enhance best practice and practical applications of different
methods.

3.0 Association of Project Management (Body of Knowledge)

The APM Body of Knowledge (BoK) is a thorough and carefully organized body of knowledge
that is especially geared toward managing projects, programs, and portfolios. Project
Management in Context, Strategic Planning, Strategy Execution, Techniques, People and
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Profession, Organization and Governance, and Business and Commercial are the seven areas that
make up this document.(Gvozdenovic, et al., 2008; Franks, 2020) In 2000, the BoK's fourth
version included 52 knowledge categories. However, the number of knowledge categories rose to
42 in later editions, such the one in 2012, and as of this writing, the BoK includes 68 knowledge
topics. This progression emphasizes how the APM BoK is always being improved upon and

expanded to include the breadth and depth of project management techniques and principles.
(APM, 2012; APM, 2019), this assignment will be focusing on the 6th edition of the APM Bok

Figure 1 Scale of managing effort Source: APM 6th Edition

3.1 Pros of AMP Bok

The associated project management (APM) methodology has many benefits for companies. First
of all, it makes it easier to create more believable plans and makes it possible to report progress
in more relevant ways. APM increases the accuracy and realism of project planning by adding
specific knowledge areas and best practices, which improves project outcomes. Project managers
are also given the tools necessary to manage uncertainty and deal with potential hazards by the
thorough APM framework. This makes it possible to manage risks proactively, lessening the
effects of unforeseen circumstances and raising project success rates. (APM 2012) APM also
fosters innovation and enables businesses to take advantage of favorable conditions by
encouraging the recognition and exploitation of opportunities. This strategy not only improves
project results but also helps the organization expand and become more competitive overall.
Secondly, APM has advantages outside of the project management industry. It aids businesses in
building stronger reputations with both internal and external clients. Organizations can show
their dedication to completing high-quality projects on deadline and under budget by putting
APM methods into practice. Establishing credibility and instilling confidence in stakeholder’s
results in better relationships and higher consumer satisfaction. APM solutions, which keep track
of an organization's application infrastructure, are also essential for enhancing end-user
satisfaction and maximizing application performance. (Ackah, D. (2019) Organizations may
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pinpoint areas for improvement, maximize efficiency, and improve the entire customer
experience by monitoring and evaluating performance metrics. As a result, firms are able to
make data-driven decisions and align initiatives with strategic goals, leading to increased
operational efficiency.

3.2 Cons of AMP Bok

APM has various disadvantages despite its advantages. The high learning curve is the first
difficulty, especially for those who are not accustomed to using such products. Due to the
intricacy of APM processes, extensive training and adaptation are frequently required. APM
systems can also be expensive for small infrastructures, which restricts accessibility for
companies with little finance. Another difficulty is when there are several stakeholders from
different teams inside a company, such as application support, server teams, network teams, etc.
With many stakeholders, it can be challenging to organize tasks, determine priorities, and ensure
effective communication and collaboration. (APM 2020c) Long-term issues with APM
installations have also surfaced because shifts in organizational roles and strategies can cause
uncertainty in ownership and maintenance, which results in underutilization.

3.3 Benefits of AMP Bok

In times of change, effective project governance is necessary for reducing risks, optimizing
benefits, and ensuring long-term organizational growth. Maintaining stakeholder trust and
support requires avoiding typical traps that result in project failures. Enhancing the effectiveness
of routine business activities is essential, as is being ready and adaptable in reaction to
environmental changes. (APM 2020b) Project outcomes are successful when interpersonal
skills, defined roles, and good conflict management are used. Project goals must be attained by
integrated delivery methods, scope and schedule management, financial and cost management,
risk management, quality management, and resource management. Important interfaces that help
to project success include encouraging an easier flow of information, making sure that
regulations are followed, and putting in place efficient quality control procedures.

3.4 Challenges of AMP BoK

Especially in light of the growth of bureaucratic procedures and the lack of an appropriate
infrastructure to support them, project administration can stifle creativity. Strategic thinking is
crucial since the first choices made during project planning have a big impact on the results. The
ability to respond to shifting conditions might be hampered by a lack of adaptability in project
management. (APM 2012) Operational effectiveness in a project environment may be impacted
by the methodologies' scalability and the unpredictability of management roles. Project
participants also encounter difficulties like unclear communication standards, a lack of qualified
personnel, and organizational culture opposition. Willis, B.E. (1995)

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3.5 KPI of APM BoK
KPIs are frequently used, regardless of the technique or framework being employed, to gauge the
effectiveness and success of initiatives. With that in mind put together few KPIs for the
association of project management Bok.

Figure 2 KPIs of AMP Bok Source: Author Source

3.6 Analysis
The analysis of the APM BoK highlighted its strong knowledge base and broad coverage while also
revealing its weaknesses in terms of giving accurate and in-depth information. The APM BoK appears to
lack a clear sense of direction and a willingness to adapt, especially in light of the unpredictable and
constantly evolving economic and social trends, even though it effectively addresses issues like people
management, procurement, cost and financial management, benefits management, and sustainability. In

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the context of today, this seems out of place. Despite the fact that it is helpful in that it directs users to
other sources of information and encourages. The APM BoK will be more complete and sensitive to the
changing demands of the profession in its next iteration, in my opinion. The revised version must be
complete and timely in order to ensure its continued applicability in a setting that is continually changing.
After being evaluated, it became clear that the APM BoK covers a wide range of topics, including
procurement, cost and financial management, benefits management, and sustainability. It has, however,
also demonstrated a lack of depth and intricacy as well as a resistance to change. Given the erratic and
constantly shifting economic and social trends, it is critical that the APM BoK adjust and offer clear
guidance. (APM 2012, APM 2019, APM 2020b, APM 2020c)

4.0 Prince 2
According to PRINCE2 (2020) and Vaníčková (2017), PRINCE2 is a globally recognized
process-based method for effective project management, consisting of 7 Themes, 7 Principles,
and 3 Techniques, known as PRINCE2-773. It is widely utilized in the private and public sectors,
particularly by multinational corporations (Vaníčková, 2017). The methodology emphasizes
regular review of a project's business case to align with evolving business objectives (Matos and
Lopes, 2013; Vaníčková, 2017; Brymer et al., 2020). PRINCE2's prescriptive approach ensures
effective project management, with its components including 7 Processes and adaptations
(Karaman and Kurt, 2015; Vaníčková, 2017). By adopting PRINCE2, organizations can achieve
successful project outcomes and maintain a focus on delivering value (PRINCE2, 2020).

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Figure 3 Prince 2 Processes

4.1 Pros & Cons of Prince 2

Each project is broken down into several stages by the PRINCE2 methodology, which covers the
whole project lifecycle from conception to conclusion. This uniformity holds true for all
initiatives utilizing this methodology. As a result, closely monitoring the necessary processes
becomes easier to manage, ensuring that projects stay on schedule. Due to a thorough
understanding of the project stages, there is plenty of time to make the necessary adjustments if a
project goes off course. APMG (2003) this makes course corrections possible and keeps projects
from getting off track. Project teams have a framework in place that supports improved control
and the capacity to quickly resolve any potential deviations by following the structured
methodology of PRINCE2.
Excessive documentation, rigidity, and a lack of training pose challenges in various processes or
systems. Overwhelming documentation can impede productivity and create administrative
burdens. Rigid processes limit adaptability and hinder responsiveness to change. Without proper
training, these processes or systems become ineffective and counterproductive. Training plays a
vital role in equipping individuals with the knowledge and skills needed to navigate and utilize
them effectively. Striking a balance between documentation, flexibility, and providing
comprehensive training is crucial to ensure efficiency and successful outcomes.

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Figure 4 Prince 2 principles Benefits & Challenges, Source: Author

Figure 5 Prince 2 Themes Benefits & Challenges, Source: Author

Figure 6 Prices 2 Benefits & Challenges of Process

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4.2 KPIs of Prince 2
Although there was space for improvement in customer communication, successful
communication tactics were used in the Scheldt & Bachmann project on the fair collection
system (Axelos, 2015). Monitoring variables such communication procedure variance rates, the
frequency of formal communications, and the number of team meetings is advised in order to
maintain the communication strategy. A formal issue register was put in place to maintain strict
change control. Key Performance Indicators (KPIs) that may have been used to track and
manage changes efficiently include the number of issues that were documented, issue severity
information, and the proportion of authorized change requests.

It would have been advantageous to assess elements like the frequency of issues, the proportion
of mitigated issues, and the estimated monetary worth of risks as the project manager also
adopted the function of the risk manager. These measurements would have made it possible to
effectively communicate risk management with the customer. Monitoring testing data, quality
acceptance percentages, and statistics on deviations from specifications were crucial for
managing and ensuring the machine's quality from the prototype stage to production. These
metrics would have allowed the project team to efficiently monitor and manage the product's
quality and ensure that it complied with all necessary requirements.

4.3 Conclusion on Prince 2

To sum up, the Prince2 methodology has established itself as a useful framework for project
management, giving organizations a disciplined technique for executing projects. We have
examined the fundamental ideas, concepts, and procedures of Prince2 throughout this study,
showing both its advantages and disadvantages. The focus placed by Prince2 on clearly defined
project phases, efficient governance, and stakeholder involvement guarantees that projects are
well-managed and advance under control. Project teams may continue to be agile and responsive
thanks to the methodology's emphasis on constant monitoring, adaptability, and the capacity to
adjust to changing conditions.

However, it's critical to recognize that putting Prince2 into practice calls for serious preparation
and thought. To make sure that project teams have the requisite abilities and an awareness of the
methodology, organizations must spend in training and development. Prince2 must also be
customized to meet the unique requirements of each project in order to be as effective as
possible.
Prince2 offers a thorough framework that supports efficient project management, risk reduction,
and successful project outcomes. Organizations can increase project success rates, foster

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communication and collaboration, and accomplish their desired goals by adhering to its
principles and best practices. The implementation of Prince2 can be a great asset in guaranteeing
project success and organizational growth as projects become more complex and demanding.

5.0 Conclusion
The main distinctions between PRINCE2 and APM relate to how they approach project
management. A methodology called PRINCE2 offers a structured framework through its seven
processes, management tenets, and product descriptions. It focuses on the "who, where, what,
and when" parts of project management and offers particular principles that are adapted to the
requirements of each firm. APM, on the other hand, represents a collection of best practices
without offering a clear outline of how to execute projects. It examines several strategies in depth
and places an emphasis on the "how" of project management. (Rowland, M. 2016)

While APM offers a variety of options and viewpoints on project execution, PRINCE2 provides
a precise definition of what must be done. As PRINCE2 provides the parameters and APM fills
in the blanks by offering a deeper understanding of project management practices, the two
certifications work best together. APM tests evaluate a broader grasp of project management
using closed book and descriptive questions, whereas PRINCE2 exams focus on specialized
expertise and use an open book style.

In the end, PRINCE2 and APM both play significant roles in project management, with APM
delivering flexibility and a variety of methodologies while PRINCE2 offers structure.
Professionals can improve their efficacy in completing successful projects and get a thorough
understanding of project management by merging their respective techniques.
According to Famuwagun it is advisable to look at more case studies to investigate how these
two project management approaches can improve project managers' performance, resulting in
more successful outcomes and the ability to turn unsuccessful projects into successful ones in
perspective. To further explore their complimentary roles in attaining project success, it is
advised to examine different project management approaches in conjunction with this and other
case studies. (Fámúwàgún, Ọlájídé. (2020))

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Figure 7 Comparison of Prince2 & APM Bok

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