Project Management with Prince2

PRojects IN Controlled Environments (PRINCE2) has become one of the most widely practiced project management methodologies around the globe. It was introduced to deliver the common  causes of project failure related to time and budget.

PRINCE2 is recognized due to its popularity for being an effective and powerful approach with its adaptability to project management. PRINCE2 is a process-based approach that focuses on the organization and control over the entire project, from start to end. This approach primarily focuses on the delivery of the products by ensuring that your project follows the proper guidelines toward success.

There are few PRINCE2 principles:

·         There should be justifiable reason with clearly defined to begin any project with a detailed cost assessment.

·         The team should have a clear and an organized structure so that they can learn from every stage to enhance the project work.

·         Every team member should recognize their exact roles and responsibilities in the project.

·         Projects should be planned, controlled and tracked with step-by-step phases to meet the requirements.

·         Projects should have a constant focus on the product delivery with the excellent quality, against the requirements.

·         PRINCE2 method should suit the need of each project, its environment, complexity, fit the size, its capability and risk involved.

Roles of PRINCE2:

·         The project board which includes multiple people to check the project assurance.

·         The user will use the project deliverables or its impacted through the project’s final outcome.

·         The customers are the one paying for the project

·         The supplier (subject matter expert) provides the knowledge to complete the project by designing or building it.

·         The project manager is responsible for planning, organizing, overseeing the project work and managing the team.

·         The project team works on the task and oversees the daily work and report directly to the project manager.

·         The administrator maintains and keeps all things updated, track documents, setting the meetings

Benefits of PRINCE2 Project Management:

·         It's globally recognized project management approach that is popularly growing every day

·         It gives a better control over the usage of assets

·         It is scalable and customizable, which is tailored to suit the project environment

·         It gives an early visibility of possible issues and manages risks

·         It is flexible enough to suit any project size

·         It regularly reviews the progress of the project against plans and business cases

·         It promotes continuous learning and improvement with clearly defined project outcomes

·         It enables good communication between the stakeholders and the project team.

·         It effectively delivers the project by saving both time and money.

Summary:

PRINCE2 will not only benefit the organization by giving them greater control over the resources and the potential to manage projects more effectively, but will also help individuals. PRINCE2 is proven principles, that permits organizations to adopt the technique and methods to enhance their organizational capabilities across various areas. It is a flexible framework that can be customized to any size or even type of the project.