The Yin and Yang of Project Management:
Comparing PMBoK and PRINCE2 (again)

G J Rankins MPD
Goal Professional Services Pty Ltd, www.goalgroup.com.au
Mobile 0407 011 077, grankins@goalgroup.com.au


This paper was presented at the Australian Institute of Project Management National Conference,
7-10 October 2007, Hobart, Tasmania, Australia.

Abstract

This paper reports on a detailed comparison of PMBoK Version 3 [1] and PRINCE2 Release 4
[2], which compares the two methods in a number of ways: the major features of each method;
the impact of each method on various stakeholders; and the approaches of each method to a
selection of issues of importance to project managers. The number of similarities seems to have
increased since the previous versions were released. However, several critical differences
remain. Firstly, in the externalities of projects, namely governance, project context and benefits,
PRINCE2 is seen to provide guidance and effective controls to those who are responsible for
governing projects, about which the PMBoK is silent. The PRINCE2 requirement for a single
point of accountability, the supporting roles of Senior User and Senior Supplier, and the concepts
of planning horizons, stages and tolerance around estimates, and Work Packages are clearly
valuable. Secondly, with respect to the project manager’s role, the PMBoK is seen as being more
expansive in certain knowledge areas and more prescriptive in terms of activities to be
undertaken. The PMBoK provides greater guidance and support for project managers in their
day-to-day roles.

So, the PMBoK and PRINCE2 methods are better regarded as the yin and yang of project
management, different but complementary, and not incompatible. Their remaining differences
make each attractive to different stakeholder groups. The best approach? In the Taoist
philosophy, yin and yang are complementary aspects of the same whole. So, why choose just
one, when you actually need both, and sometimes more.
  
Comparing PMBoK and PRINCE2 - complete article

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