Project Management Framework Prince 2

By: Microtek Learning

230

Project Management Methodology
  •  It is a methodology that does not lie within agile, traditional, or change management areas of project management. It is recognized around the world as an amazing, framework to help you manage projects effectively.
  • Prince2 stands for Projects in Controlled Environment and is maintained by Axelos which is the same organization that manages ITIL.
  • It is a project management methodology all around the world.
  • Prince2 is an easily adaptable method that guides you through managing a project successfully. That is regardless of type or scale.

Prince2 functions on some major principles, themes, and processes.

It includes 7 principles, 7 themes, and 7 processes.

7 Principles of Prince2: 

These work as the guidelines followed under Prince2. They are some finely curated steps to ease out the business procedural methods.

1. Continuation of business: There must be an appropriate reason to be running and managing the project

2. Learn from experience: Project teams should continually seek and draw on lessons learned from previous work in previous projects.

3. Defined roles and Responsibilities: Project team should have a clear org structure and should involve the right people in the right tasks.

4. Manage by Stages: Projects should be planned, monitored, and controlled but they should be on a stage by stage basis.

5. Manage by Exception: People working within the project should be given the right amount of authority to effectively work within their environment. Give them enough room to maneuver and appropriate authority to manage those exceptions.

6. Focus on products: Prince2 projects focus on defining the product, service delivery, and quality. It is all about the end product that the organization is producing.

7. Tailor to suit the project Environment: Prince2 must be tailored to suit the project environments. Like size, complexity, importance and capability, and lastly risk.

7 Themes of Prince2:

These describe the aspects of the project that must be addressed in parallel so that it is followed throughout the project. As these themes are in place you need to state the minimum requirement needed for each theme and that gives specific guidance on how to tailor to certain environments.

1. Business case: It is a record of business justification for the project.

2. Organization: We need to know the individual roles and responsibilities of the whole project team

3. Quality: The quality requirements and measures that need to be taken for the project.

4. Plans: Steps required to develop all these plans and the prince2 techniques to be used under that realm.

5. Risk: Effectively identifying and analyzing those risks and opportunities that could impact the project

6. Change: How the project manager will assess and act on the changes to the project. Whether it is going to be formalized or is it going to be more agile so that the rest of the team gets to do it.

7. Progress: We need to assess the ongoing viability and performance of the plans, like how and whether the project should proceed.

7 processes of Prince2:

They are essentially the lifecycle of the project from the initial idea to project closure.

Each process is finely designed steps that recommend activities and responsibilities. It also guides organizations on how to adapt to different situations.

1. Starting up the project: 

2. Directing a project

3. Initiating a project

4. Controlling a stages

5. Managing product delivery

6. Managing stage boundaries

7. Closing project

Using the guiding principles, themes, and processes organizations have a much better chance of achieving a successful project.

Benefits of Prince2

While handling a project, the project managers never proceed without a clear plan.

They have to juggle a lot of responsibilities and look after stakeholder demands, changing technology, and staff management. They require a solid framework to save lost time, wasted resources, and poor quality.

1. Flexibility in project management: Prince2 is a highly generic and adaptable framework. You do not require any software to run it, and it also can be applied virtually to any project or company. Users can learn to adapt prince2 to create frameworks that suit their needs.

2. Common Language: All Prince2 practitioners are familiar with the framework terminology and methodology. It makes it easy for the practitioner to communicate and work together even if they are from separate departments or Companies. 

3. Clarity: At the beginning of the Prince2 project everything will be clearly defined. It includes team member roles, responsibilities, and lines of communication. With fewer delays due to human error, projects can also proceed faster without having to sacrifice quality.

4. Risk Management: In Prince2 project managers can assess and reassess potential risks throughout the project making it easier for them to prepare for the worst. It also provides flexibility to adapt to unexpected complications and learn from them for future projects.

5. Designed autonomy: It gives managers the authority to make decisions without constantly having to ask for permission. This helps to avoid delays and keep operations streamlined.

6. Stakeholder Representation: Prince2 makes sure that the stakeholders are present in each stage of the project. Right from planning to completion of the projects. In this way, managers will be able to understand the stakeholder requirements and also keep them realistic for them.

7. A best practice Framework: It is not just a theory but a collected experience of successful managers from a variety of sectors, locations, and industries.

Microtek Learning is an online trading provider which covers a range of corporate standards.

Our collection of foundation and practitioner courses is designed to deliver everything you need to become certified.

What are the advantages of getting Prince2 Certification?

• As an individual to get certified can help you to boost your CV and job prospects.

• Get into project management

• Boost your salary. 

• Teach key skills required for project management.

• Boost your confidence at work.

As it is known worldwide, individuals getting certified has vast opportunities.

Getting certified in Prince2 Certification Training is extremely beneficial as more projects require individuals who are having knowledge about the standard framework.

Visit our page at Microtek Learning to get more information about the course and various other courses.

If you have a query, leave a question so that one of our experts can get back to you.

Leave a message here

Get In Touch
Are you being sponsored by your employer to take this class?
* I authorize Microtek Learning to contact me via Phone/Email