Project Control Methods
The major elements of project controls include tracking time and cost, prioritization, handling contingencies that occur during project implementation, tracking key project milestones to ensure the project remains on track, and controlling and managing outside resources involved in the project.
The best and most popular project control methods grounded in industry standards are the Project Management Body of Knowledge (PMBOK) and PRINCE2.
PMBOK refers to a guide that contains standard terminology and guidelines for project management, introduced as an attempt to standardize general project management practices. The PMBOK offers 42 processes categorized into nine knowledge areas, and require that an effective project needs to accomplish the processes contained within the respective knowledge area.
PRINCE2, or Projects in Controlled Environments is the de facto project management standard of the UK government, and finds widespread application in industry. The PRINCE2 project management methodology provides best practice guidelines grounded in the business justification of the project, such as procedures to coordinate people and project activities, project design, project supervision, and handling contingencies. It allows flexibility to apply such structures at any appropriate level of the project.
Among the lesser-known project control methods, the MPMM Project management tool stands out. This project management methodology allows establishing effective project control through 1500 tasks, charts, tables, templates, and case studies concerning different aspects of the project and covers the entire project management process. The advantage is the ability to customize such tasks, charts, and templates as needed.
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