In topics 1 & 2 you have been introduced to various project methodologies and processes. In 900 words , demonstrate your knowledge of these.Ensure you address the following areasand provide at least...

Project Methodologies
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        PROJECT METHODOLOGY        3/17/2018            
Table of Contents
Project Methodology    2
PMBOK & Waterfall    2
Similar Features    3
Contrasting Features    3
Number & Order of Steps    3
Level of Flexibility    3
Level of Documentation    3
Area of Application    3
Project Life Cycle (PLC): relation with Waterfall & PMBOK    4
Conclusion    4
References    5

Project Methodology
The conception and execution of sequential steps to achieve the goals in a specific situation is termed as the methodology that is followed. Methodology also refers as the amalgamation of processes, tools, techniques, best practices, and procedures to achieve the project goals. The companies and business firms undertake numerous projects that are composed of numerous activities to achieve the set of goals and objectives associated with the project. The different areas in the project require the application of different methodologies, such as developmental tasks and activities require development methodology, managerial tasks demand management methodology and so on. For every purpose and area in the project, there are methodologies defined and developed by the researchers and experts that act as guiding tools for the resources engaged.
PMBOK & Waterfall
One of the most popular and mostly applied Project Management methodology as defined by Project Management Institute (PMI) is PMBOK. It stands for Project Management Body of Knowledge and has succeeded in providing the hundreds and millions of Project Managers with adequate guidance and support during the project life cycle. The methodology states that the project management must start with initiation phase and shall be followed by planning phase. These two phases shall be the building blocks for efficient project handling and management and shall be followed by execution, control, and closure. The methodology is composed of ten knowledge areas that are applied so that the project activities are managed in a better way (Hau, 2018).
There are a number of development projects that are also carried out in various business units and set-ups. These projects apply different methodologies and one of such traditional approach is the Waterfall Methodology for development. This methodology is applied in the development of software solutions and packages and suggests a linear list that comprises of sequential steps with a defined order that shall not be disturbed or modified (Bassil, 2012). The methodology suggests that the development work shall begin with requirements gathering and analysis and shall be followed by the design phase. Once these phases are completed system implementation and testing shall be carried out followed by deployment and maintenance (Vavpotic & Vasilecas, 2011).
Similar Features
As stated in the different definitions for methodology, the two methodologies described above are composed of specific steps. These methodologies have been developed by the experts so that the respective project tasks and activities are conducted and executed with perfection. These methodologies ensure that the ethical compliance is maintained for the projects and include steps that support the idea of the same. The approach stated in both of these methodologies is described in detail.
Contrasting Features
Number & Order of Steps
The Waterfall methodology is defined for development projects and has the number of phases as six. The PMBOK methodology is defined for management activities and has the number of phases as five. The Waterfall methodology follows the linear list of steps in which the next step can be reached only when the one before it is accomplished without any gaps. The case is not the same with PMBOK as there may be slight variations in the sub-activities on the basis of the applicable knowledge area (Cardona-Meza & Olivar-Tost, 2017).
Level of Flexibility
Waterfall methodology is a traditional approach and was coined when the probability of any sort of changes in the project was the least. The methodology is therefore designed with lesser support and scope towards changes and their handling. PMBOK is better in the area of flexibility as its knowledge areas are dynamic and scalable and can be applied in varied situations (Alshamrani & Bahattab, 2015).
Level of Documentation
PMBOK does not have a defined set of guidelines or approach for documentation to be done during the project life cycle, whereas there is a lot of focus on documentation in Waterfall methodology.
Area of Application
The different areas in the project require the application of different methodologies, such as developmental tasks and activities require development methodology, managerial tasks demand management methodology. Therefore, Waterfall Methodology is applied in development projects and PMBOK is applied in managerial tasks and projects.
Project Life Cycle (PLC): relation with Waterfall & PMBOK
As the term suggests, PLC refers to the ordered series of steps involved in the projects. These steps are listed and placed one after the other to understand the life cycle of the project.
Waterfall methodology has six phases that must maintain their defined order. The methodology is also predictive in nature. Both of these elements along with the purpose and nature of the phases is very similar with PLC. The similarity lies between PMBOK and PLC as well in terms of the phases. The approach followed in both cases is different as PMBOK does not follow a predictive approach and is knowledge-based (Humaidi & Said, 2011).
PMBOK has scope for scalability and supports the idea of flexibility in contrast to PLC. The Waterfall methodology matches up with PLC in the areas of flexibility and scalability.
Conclusion
The purpose behind the development of methodologies and the on-going research work in the area is to ensure that the project resources are equipped with the best possible guidance as required by their respective projects. The Project Manager and other senior leaders and managers engaged with the projects must make sure that they select the apt methodology from the pool of methodologies. The accurate selection procedure will be possible when it will be backed by adequate analysis and planning procedures. There must also be review of the decision by Subject Matter Experts (SMEs) and business analysts that must be done as the inadequate selection of methodology will set up a weak base for the project.
References
Alshamrani, A., & Bahattab, A. (2015). A Comparison Between Three SDLC Models Waterfall Model, Spiral Model, and Incremental/Iterative Model. Ijcsi.org. Retrieved 16 March 2018, from https://www.ijcsi.org/papers/IJCSI-12-1-1-106-111.pdf
Bassil, Y. (2012). A Simulation Model for the Waterfall Software Development Life Cycle. Arxiv.org. Retrieved 16 March 2018, from https://arxiv.org/ftp/arxiv/papers/1205/1205.6904.pdf
Cardona-Meza, L., & Olivar-Tost, G. (2017). Modeling and Simulation of Project Management through the PMBOK® Standard Using Complex Networks. Complexity, 2017, 1-12. http://dx.doi.org/10.1155/2017/4791635
Hau. (2018). http://www.hau.gr/resources/coe_site/pmbok-08_4thed_changes.pdf. Hau.gr. Retrieved 16 March 2018, from http://www.hau.gr/resources/coe_site/pmbok-08_4thed_changes.pdf
Humaidi, N., & Said, N. (2011). The Influence of Project Life Cycle and Key Performance Indicators in Project Management Performance: Comparison between ICT and Construction Project. Ipedr.com. Retrieved 16 March 2018, from http://www.ipedr.com/vol15/6-ICCPM2011A00011.pdf
Vavpotic, D., & Vasilecas, O. (2011). An Approach for Assessment of Software Development Methodologies Suitability. Electronics And Electrical Engineering, 114(8). http://dx.doi.org/10.5755/j01.eee.114.8.707
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