The definition of the project can be seen from a different perspective, but basically, a project is a unique temporary process with known objectives or deliverables which has a definite start and finish date (duration). Different scholars have their own view of the term project. “An organized undertaking, limited in time to achieve specific objectives" Eskeland (1985). PMBOK (2013) gave a more precise definition of a project as a temporary effort applied to build a spectacular, product, service or achieve a desired result and also described project management as the use of methods , skills and tools in any project activity in to make the project a success.
There are basically four project methodology in the project landscape which are Traditional, Agile, Extreme and Emertse Wysocki (2009). For the scope of this essay, a brief insight of both traditional and agile methods will be given and then, critically analysed in terms how they each methodology can lead to the success and failure of a project. Risk management will also be discussed on and thereafter, a tool that can help achieve a successful project and finally, conclusion.
Overview of TPM and APM
Traditional Project Management (TPM) is the oldest form of project management and has been in existence since 1950s (Wysocki, 2009). During its early stage, TPM was simply an array of phases such as define, plan, execute, and close with tasks clearly know at each phase Statistics from data collected from over 10,000 project managers has shown that 20 percent of