We study two parallel computing models — the Bulk Synchronous Parallel (BSP) and the Queued Shared Memory (QSM) — as alternatives to the PRAM model to provide more accurate performance predictions and analyses, and compares the two models in detail. As a case study, we consider a simple hashing problem, design the two versions — the message passing version and the shared memory version — of the algorithm, and compare their run time analytically. The message passing version of the algorithm is implemented and the experiments are performed to display the accuracy and the limitations of the predicted performance analysis.