Describe five (5) advantages and five (5) disadvantages of using a project management approach based on model-based methodologies (specifically PMBOK® and PRINCE2®).

Describe five (5) advantages and five (5) disadvantages of using a project management approach based on model-based methodologies (specifically PMBOK® and PRINCE2®). Using a suitable project example from your experience or reading, illustrate how one of these models - of your selection - will benefit your project compared to the other model (i.e. the comparative strength of the chosen model for a specific project). Also comment on how the models could be combined and how you would retain the benefits of each and correct for the deficiencies of each. (PMBOK® is a registered mark of the Project Management Institute, Inc PRINCE2® is a registered trademark of AXELOS Limited) Assignment 1B Task: What is the role of integration as defined by PMBOK®, and what contribution does it make in project management? Why is scope management important and how would you control scope in a project? How do scenarios contribute to project management? Describe the tools that you would use to collect requirements and generate at least 20 requirements to define scope for a particular project. Describe a test to assess whether five (5) requirements had been achieved. Assignment 1C Task: What is the value of having sound time and cost management plans when undertaking project execution? Identify at least six tools / techniques (three (3) each for time and cost management) that you would use for managing and controlling time and costs in the project and describe why you consider them to be important. Using a suitable project example from your experience or reading, make a list of activities to monitor and control that project. Criteria by which your assignment will be marked: The standards by which the assignment will be assessed include understanding of principles and referencing these. The objective of these questions is for the participant to consider the theoretical material supplied and attempt to apply it to a real project example. Therefore evidence of having read and understood the material is important. Marks will be given for the comprehensiveness of the content, evidence of additional reading, referencing these readings in the answer, and application. In answering these questions try and state principles as well as detail. Just reproducing PMBOK® (especially cutting and pasting diagrams) is not enough! Length and Presentation: 2250 words (750 each topic) in report format. Quotations do not count in the words counted.