PRINCE2® method can be applied in any type of project, under any type of industry. Whatever complexity that a project may have, it will be very applicable.
Many Companies fail to understand the importance of using project methodologies in managing their business values. The field of project management requires systematic implementation of rules and tasks in order to achieve the organizational objectives. The idea of using project management methodologies creates contradicting opinions and ideas of people when it comes to having certifications in relation to project management. They fail to realize that having a method would greatly affect the whole organization.
It would be one of the great advantages of the companies if they would use PRINCE2® methodology. Little did they know that there are a lot of desirable effects that they could get from implementing it. This will undoubtedly help everyone to optimize every business process.
What is PRINCE2®?
It is one of the most widely used project management methodologies that been developed and improved over the years. It has a common language which can be used across all the units in an organization, to be able to deliver good products, create good marketing and business transformations. This is also known as one of the best ways to deliver project through its power which is based on interlinking connections of the business components. This provides as a framework to work with and techniques to be utilized. This method does not overburden any project, in fact, this method promotes harmony on both external factors, like the corporate standards, and the project factors like the size and the complexity of the project.
What are the features of PRINCE2® Method?
- It is a generic method. This provides a specific platform where the project can be managed carefully and successfully. It does not matter what kind of culture does a company have, the number of its people, and the scope of it.
The specialist activities involve here are separated from those of the management activities, which makes it generic, and another important feature of it is that it can be tailored with other activities to meet the needs of any project.
- PRINCE2® Method is benefits focused. The focus of this method is on the project’s product and the benefits that the customers will be having by purchasing it. Throughout the project, there is Business Case to be done. Business Case will outline the criteria for the product and these must be established before the project starts. However, if these benefits are not met, or not justifiable, the project will be closed and the unused resources will be exhausted.
- PRINCE2® Method Outlines define Roles and Responsibilities. This provides a complete outlines on how to delegate the tasks to the people. The roles, tasks or activities to be distributed are clearly defined and provides clarity that the doers will be able to comprehend. This is proven to save time and effort of people and making them more productive and functional.
- Sound Decision making. This method promotes accountability. The people who are asked to make decisions will make it and not anyone else in the company. Not all small or petty things will be escalated. These are already filtered before it reaches the top management. There is Project Board that will approve the decision of each team. This exception of PRINCE2® saves time on the project as a whole.
- Stakeholder involvement. Stakeholders like the user, the supplier, the customers and many others take part in the decision making process. Facts are gathered through them and the expectation that they have are being simplified to come up with a decision to make the pre requisites of the project more manageable. This also ensures that all their concerns are heard and their needs are met.
PRINCE2® method is known to provide a roadmap on how the project needs to be done. The key is that, the stakeholders involve in the project should be able to understand every detail in the project.
The ability to implement this method effectively will reap the following:
- PRINCE2® method can be applied in any type of project, under any type of industry. Whatever scale or complexity or culture that a project may have, it will be very applicable. It also has a feature of standing alone.
- Specific roles are given to chosen people who can perform the responsibilities because they are knowledgeable of the assigned task to them. It promotes definite structure on liabilities and authority in the company. This also serves as a tool to meet the growing needs of both company and its stakeholders.
- PRINCE2® method also promotes continuous improvement and innovations in the project. This provides a common language that is intelligible and comprehensible to all the stakeholders. This simplicity of the language helps the communication to be more efficient.
- The main focus of this project is the validity of all the processes that the product underwent and its efficiency and good quality.
PRINCE2® method is internationally recognized system and had already proven itself when it comes to credibility. The people who are trained under this program are highly regarded and recognized because of their knowledge on this methodology. This ensures that the people who underwent it will become valuable assets of the company. It also promotes consistency of project management and facilitates stall mobility and reduces the chances of high turnovers. This methodology also provides explicit definition of the activities to be accomplished.
PRINCE2® is a registered trademark of AXELOS Limited.