I.T. PROJECT MANAGEMENT

The Manufacturing Company (TMC)

The Manufacturing Company (TMC)

Project Management Methodology

Prince 2

Prince2 defines two standard tolerances of a project: cost and time. These tolerances apply to both the project plan and the various stages of forming it. While the tolerance of the project plan imposed from the organization (or program if the project is part of one), the stages are established by the Project Board at the beginning of each. The organization as a Prince2 project is based on the existence of levels or layers of decision that control the levels of decision under their responsibility. Thus, corporate management or program controls the Project Board, which in turn controls and advises the Project Manager, which can control the Team Managers if they exist (depending on project size and the existence of external providers).

The Project Board consists of at least three roles that correspond to three different domains: the Executive (business), the Senior User (users) and the Senior Supplier (suppliers). Other roles may appear depending on the type and characteristics of the project (e.g. a program representative or financier) (Millard, 2005).

Management of the Project Board in PRINCE2 is management by exception. This means that the Project Manager is responsible for day to day the same and that there are controls that allow the Project Board to act when necessary. Some of these controls are 1) the division of the project in stages where checks the validity of the Business Case and assesses the project to the Project Board, 2) the allocation of tolerances in terms of time and cost of the project phases, 3) periodic reports submitted by the Project Manager or 4) when exception reports are expected to exceed the assigned tolerance.

The project management methodologies (such as Prince2) suggest the figure of a Change Authority, to be responsible for making decisions about whether or not an address change within a project. For ease of management, would be created when the project is made for such circumstances called Budget Changes. In Prince2, this monitoring can be located on the role of Project Assurance. This role has a double face: In Prince2 defines five categories in which you can sort the possible countermeasures to address a risk. These five categories are:

Prevention: To adopt mechanisms to eliminate that risk, either by removing the threat or impact of it.

Reduction: Undertake measures to reduce the possibility of occurrence of a risk or the effect thereof.

Transfer: Moving risk management to a third party. Examples would be an insurance policy or penalty clause in a contract.

Acceptance: Either because the risk is very unlikely or because the cost of possible countermeasures is too high compared to the potential impact. In extreme cases the project should be re-evaluated.

Contingency: Have planned actions to be carried out if the risk materializes finally (Basu, 2008).

AGILE

Agile methods are groups of practices that may apply to various types of projects, but rather limited currently in development projects in computer science (software ...