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Question: Discuss about the Infocom Technologies and Optimization. Answer: Introduction Schwalbe (2015) stated that various industries such as energy and power generation, IT services and mining sector faces lack of competition into the marketplace as the companies are not updating and revising their project management methodologies. The companies require customizing the project management processes based on PMBOK and Prince2. In order to compete into the marketplace, a decision is taken regarding the adoption of PRINCE2 and Waterfall project management methodologies into various industries (Kerzner 2017). The methodologies divide the projects into convenient in addition to controllable stages. The report summarizes the project management methodologies such as PRINCE2 and waterfall project management methodologies in the business organization so as the organization can able to develop new product and services, establishment of new production line into the manufacturing industries, development of application of the information management systems and allows the enterprise teams to work into partnership in managing of project work by synchronization of team related activities. Adoption of project management methodologies In the organization, project management methodologies are required to outline the project document, initial document on project charter and feasibility report requires to complete to check if the project work is feasible or not. Project scope statement outlines what will have to be done by creation of project charter to define the scope and critical success factors (Yao 2016). Review of the project scope and revised scope statement is a strategy for successful adoption of the methodologies. Completion of the project decomposition results into work breakdown structure and performing of resource allocation for each of the project tasks are also an importance of development of new services (Kononenko, Aghaee and Lutsenko 2016). Improvement of services from perspectives of people who use of the services, delivery of integrated services to the project individuals, provides the employees with organizational structure which support responsibilities to develop competent workforces and releva nce of the learning are also project requirements. Parker et al. (2013) demonstrated that PRINCE2 is a detailed set of methods providing with structured, responsibilities as well as defined artifacts. The project manager requires communicating and doing the organizational work. A PRINCE2 framework concludes that the project should have prepared as well as controlled start. The benefits of this methodology are that it is predictable and utilized with best practices, standardizes with each aspects of the project to make sure that there are no chances of miscommunication and no licensing fees attached and this methodology meets the need of organization to develop the methodologies for project management (Verma, Bansal and Pandey 2014). Apart from the benefits, there are some issues such as lack of leadership and inability of organization to introduce of PRINCE2 methodology, not able to provide specialist aspects and detailed techniques, change management in this methodology is difficult as PRINCE2 is procedure oriented and focused on co mprehensive planning and also heavy documentation needs more time. According to the principles of the PRINCE2 methodology, each of the projects is supported by the continued business justification that is valid during the project lifecycle. The justifications are based on cost, time as well as quality (Boud, Cohen and Sampson 2014). Each of the project team members involved into the project is assigned with proper roles and responsibilities such that there are no possibilities of confusion related to distribution of work and methods. PRINCE2 encourages the project management by the stages. Based on the PRINCE2 methodology, the project consists of two stages, start up the project as well as project initiation stages (Karaman and Kurt 2015). The principles of project management are based on quality of the product. The main focus of the project manager is development of the products and services and maintaining of the quality standard across the projects. Waterfall methodology This particular methodology is a method to develop the software into the organization. This model considers a theoretical way to develop the software. In the requirement analysis phase, it captures all the project related requirements (ulha and Do?ru 2014). It does brainstorming to understand the project requirements. Based on the project requirements, the design is created. All hardware as well as software requirements are captured (Svejvig and Andersen 2015). The design is created based on the programs and codes and there is integration of unit testing to ensure that all expected work are done properly. It is ensured that the test exit criteria are being met and all the applications are up and running into respective environments (Singh and Lano 2014). Review of the project scope and revised scope statement, completion of the project decomposition results into work breakdown structure, performing of resource allocation for each of the project tasks and project execution document ba sed on time, cost, quality and change management are the outputs of the project life cycle management. This waterfall methodology is simple to implement and minimal amount of resources needed (Jain and Joshi 2016). After each stage, there is generation of output, hence it is highly visibility. There is efficient project management methodologies adoption at interval and client level. Setting of deadlines for completion of every stages and timely evaluation are done to check for project milestones (Golini, Kalchschmidt and Landoni 2015). Apart from the benefits, there are issues regarding it does not permit scope changes, does not permit for any type of business requirement changes, there is no working product until the completion of the project and unable to handle the unidentified risks easily. Conclusion It is concluded that PRINCE2 methodology is an intended, standard and stage oriented project management methodologies whereas the waterfall model is earliest SDLC approach used for the software development. It demonstrates of the processes of software development into linear sequential flow. The project management life cycle phase executes, begins when the team members begin to work on the project tasks assigned from the side of the project manager. The manager checks for to make sure that the project is being completed on the planned schedule. The person makes sure that the expenses are being accounted for the activities. References Boud, D., Cohen, R. and Sampson, J. eds., 2014.Peer learning in higher education: Learning from and with each other. Routledge. ulha, D. and Do?ru, A., 2014, April. Towards an agile methodology for business process development. InInternational Conference on Subject-Oriented Business Process Management(pp. 133-142). Springer, Cham. Golini, R., Kalchschmidt, M. and Landoni, P., 2015. 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