Explanation:
* Predictive:
* Requirements: are controlled as requirements and constraints emerge.
* Changes: are elaborated frequently during delivery.
* Risk and Cost: are continuously involved.
* Key Stakeholders: are controlled by detailed planning.
* Agile:
* Requirements: are defined up-front before development team begins.
* Changes: are constrained as much as possible.
* Risk and Cost: are incorporated in real-time during delivery.
* Key Stakeholders: are involved at specific milestones.
The predictive project approach, often referred to as the waterfall model, is characterized by its sequential phase-to-phase development where requirements and planning are done up-front. In contrast, the agile approach is iterative and incremental, with requirements and solutions evolving through collaboration between self-organizing cross-functional teams.
In the predictive approach:
* Requirements are detailed early in the project and changes are managed through a formal process.
* Changes are not expected to be frequent and are carefully managed.
* Risk and Cost are analyzed and assessed as part of the initial planning.
* Key Stakeholders are identified and their needs are addressed through detailed planning.
In the agile approach:
* Requirements are often co-created with stakeholders and can evolve as the project progresses.
* Changes are expected and embraced as part of the methodology to adapt to evolving needs.
* Risk and Cost are managed in real-time, allowing for quick responses to change.
* Key Stakeholders are engaged continuously, with their feedback incorporated into the project iteratively.
References: The PMBOKGuide1 and the Agile Practice Guide provide a framework for understanding these approaches. The PMP Examination Content Outline2 also details the differences between predictive and agile methodologies, emphasizing the importance of choosing the right approach based on the project's needs and environment.