Project Management Life Cycle-.com

Question: How the waterfall model and agile model relate with Project Life Cycle? Answer: There are many models or approaches of conducting the project management, are known as project management methodologies. Among many available models, two models are very famous Waterfall and Agile. The approach of doing project management of these two models is very much different in nature, but the similarity between them is both the approaches use the same technique of duration and cost estimation and ultimately the goal of using the principles of Agile model and the processes of waterfall model is the same that is to complete the project at the shortest period with less risks of cost or schedule overrun(Aston, 2017). Project life cycle has mainly four stages viz. Initiation, Plan, Execute Monitoring and Close. There are diverse activities inside the stages like making business cases, prepare charter of project for the authorization of project manager; game plan of project gather goes under the Initiation stage. By then the status of various plans falls under the period of "Plan" and so on in Figure: Project Management Life Cycle Source: (Mpmm, 2017) different stages(Mpmm, 2017). Also, every one of the stages are inter associated with each other, even they in like manner cover and the activities or work packages inside each stages are moreover truly sequenced to convey a particularly described expand design. The Waterfall and Agile systems can be more than likely be used to develop these project life cycle. Bibliography Aston, B. (2017, March 2). 9 Project Management Methodologies Made Simple: The Complete Guide For Project Managers. Retrieved August 10, 2017, from thedigitalprojectmanager.com: https://www.thedigitalprojectmanager.com/project-management-methodologies-made-simple/ Mpmm. (2017). Project Management Life Cycle. Retrieved August 10, 2017, from mpmm.com: https://www.mpmm.com/project-management-methodology.php