What’s the Importance of PRINCE2?

An organized project equates to effective communication, negotiation, and distribution of proper tasks. There are countless methods to choose from when it comes to project organization, but sometimes it always pays to rely on methods that are already equipped with features that you don’t need to manually implement anymore. And that’s where PRINCE2® comes in.

Project IN Controlled Environments or PRINCE2® is basically a direct approach to the proper organization of projects; it comprises of key features that are based on PRINCE2®’s well recognized seven principles and seven concepts.  The project management structure still needs its own method makeover and with PRINCE2®, the structure will be more in-depth, detailed, and there will be no trouble tracking scope creep and risks.

PRINCE2® levels are important to help you outline its requirements to submit the project successfully. These PRINCE2® levels are divided based on their performance (delivery and management).

The following approach indicates the different PRINCE2® levels that are embedded in the project management structure.

Importance of PRINCE2

PRINCE2® Level 1 – Program Management:

This PRINCE2® level delegates the project, determining the executive board and their capabilities, and record the project policies. The overall program management should comprise the outline, list of resources, cost, schedules, and a standard governance to effectively launch the project life cycle.

Importance of PRINCE2

PRINCE2® Level 2 –Direction:

The board is made up senior managers, executives, vendors and others that are involved and accountable for the project’s results wherein they direct and manage the project. For success to be possible the board must come to a conclusion on what will be the project’s direction and they need to merge the skills and capabilities through their authority, availability, and credibility.

The following traits in the second PRINCE2® level are essential to carry out such direction; credibility basically means seniority, authority is the capability to come up with a strategic decision and availability makes sure that the board can give the needs and decisions of the project manager. All of these must be possessed by the executive managers to be able for them steer the project in the right direction. Incapability on their part simply means a collapse in the project’s entire structure.

Importance of PRINCE2

PRINCE2® Level 3 –Management:

The project manager is solely responsible for the project’s daily task and guidelines facilitated by the project board. He or she has to make sure that the project is able to produce the expected results within the limitations of schedule, budget, scope, risk, and performance. He or she has to make it a point to delegate the tasks to the proper team members; it’s always a given that you need to identify the skills of each team member before deploying them to the tasks of the project.

Importance of PRINCE2

PRINCE2® Level 4 –Delivery:

Depending on the project’s size and levels of difficulty, the team manager is the person overall in charge when it comes to delivery requirements and ensuring its quality and performance during the process and within time constraints. This PRINCE2® level must be taken with care since we’re talking about deliverables that we need to submit to the stakeholders; these products must be free of risks, has a good quality, and properly undergoes an intensive life cycle and process evaluation.

By identifying these PRINCE2® levels, you will be able to make your project more organized for proper implementation and execution. Even with these given levels, you still need to do the usual engagements and negotiations with your team members, as well as the higher-ups and the stakeholders to properly prophet your project.

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All organizations need to cope with the rapid changes that happen in the business world. The ability to survive is one of the needed skills to ensure success in the race.Technological advancement, globalization, economy fluctuations contribute to the fear of the business all around the world: the fear of losing the game.

Organizations need to continually adapt new strategies and methodologies to make sure that they will not struggle. Getting the best, quickest, and most effective methodologies become so popular due to this kind of situation. Companies invest lots of money to these methodologies to ensure maintenance of their service, good reputation, increasing profits and the ability to stay ahead among other competitors.

With this concept, the organizations need change management programs in place which are led by skilled and experienced people more specifically with project managers who can assess and identify changes within the business and implement measures to take full control of them. Having a system consisting of controlled and consistent structure must be the common goal of every organization. Organization would need to set up management program to enable the business to control every aspect of the business as changes occur. This can help the business to success and with the project managers who are capable of devising new strategies will also help minimize the risks, and maximizing success.

In this method, the project managers who are skilled and knowledgeable in PRINCE2® methodology will help the business to succeed because of putting up systems based on solid information and training. The project managers who are PRINCE2® certified, will lead the change management program to control the processes, organize them, and thrive through changes. PRINCE2® methodology will help the management to focus on business justification, a defined organization project structure, and emphasis on separating project into controllable stages.  It gives the companies consistent and well trained leaders who are equipped in controlled leadership which is vital to success in managing the business processes.

Organizational changes occur especially when the structures and rigor of the conventional project management methodologies and techniques are outdated and normally misunderstood by employees. The methodologies that will be implemented must be providing links which are required to attain practical and sustainable outcomes.

PRINCE2® methodology has known for its project management standards and had been widely used as well by both private and public sectors.  This will be effectively applied in task delegation and individual accountability by knowing its basic principles:

It promotes individual accountability on accomplishing a project and letting the people have a clear understanding on what to do when changes occur; Authority must be assumed and must be justified in order to promote harmony in the workplace; Trust must be clearly observed by letting the people do their tasks independently and this trust must be highly maintained.

PRINCE2® methodology governs themes which are essential in decision making. These themes guide the project manager in coming up with solutions. This does not focus entirely on the meetings, reports and logs. These also provide parameters by which the ongoing accountability is justified.

• PRINCE2® has Business Case. A business case controls all the decision makings in the project. It gives justification on the investment made and may also bring organizational change to contribute to the achievement of the goals. A business case may be done qualitatively or quantitatively.
• Quality matters. PRINCE2® methodology gives focus on ensuring that the outcome fits the desired goals and needs of the customer. The wants and needs are given through feedback and these are done without compromising the standards set. It provides changes for the improvement of the product and services.
• It is organized. PRINCE2® promotes an organized environment. This methodology makes sure that all the stakeholders are listened to and their needs are attended to. The delivery team understands what they should be delivering.
• Risks are evaluated and monitored in this methodology. Risk forces the organization to take a shift and constantly check the possible outcomes.
• Plans are made. Plans are made to guide the stakeholders on what they should expect at the end of the project. Plans give mechanism to inform and consult the business on the route to sustainable organizational change.
• Change provides controls. Sometimes there is a need of trade off and compromising some of the aspect of the business process. This provides escalation of stages and extension of parameters in some situations.
• PRINCE2® observes progress. Stakeholders are update and informed about the changes and new rules. 

PRINCE2® Methodology

While changes are difficult to manage, having highly trained people in the workforce will totally make a difference. Changes in the workforce would be beneficial to the company as well. Helping them to get out of their comfort zones will enable them to discover their full potentials and making them to function even better. Trying to force people without you trying to explain it to them will make them work just for the sake of working, but the desire to finish it and do it right will lead the whole business into failure.

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Project management methodologies are a series of processes created to assist the project managers and those who are overseeing the projects. It is designed to the tasks and the activities required in a definite time schedule and to manage unforeseen conflicts.

These project management methodologies guide a manager all throughout the project giving the different steps to follow and the targets to meet form the moment a project starts until its completion.

PRINCE2®, What is it?

PRINCE2® or Projects in Controlled Environments is a process based approach focuses on the entire development of the project from the moment it started until its end and the goals are being attained. PRINCE2® has a specific structure, time frames and thoroughly planned before its implementation. This project management methodology revolves in seven principles which are strictly to be followed otherwise; the entire project is bound to fail.

First, the project must have a clear definition. It should have a clear purpose, realistic goals to meet and detailed cost-assessment plan.  It gives direction to the whole project as to where it is going to lead.

Second, the team members are expected to learn in every stage of the process and these lessons are written down for future use. These will become a reminder on how to deal with the unexpected issues just in case it arises again.

Third, the responsibilities are well- distributed and each member is expected to perform the task given to them at their utmost level. They should be dependable enough to do the job even with minimal supervision.

Fourth, the entire process has significant stages to be followed. These stages may or may not have sub-domains.

Fifth, just in case the project manager was not able to handle or things are out of his control anymore, the project board is expected to convene and decide for the whole group.

Sixth, the quality of the product is being checked from time to time.  This ensures that the product was well-kept until its delivery.

Lastly, PRINCE2® may be adjusted whenever there is a need. This methodology may be modified based on the size of the project, the available resources, and the number of parties to be involved in the process.

The Pros and Cons of Management Methodology :

One of the advantages of using PRINCE2® in project management is that its extensive documentation of the whole process helps with performance appraisals, corporate planning and risks mitigation. This project management methodology helps to coordinate different related tasks to be managed easily. This helps the entire team to stay on focus while doing the job. The main reason that everything is documented, these can be used to improve, modify or standardized such processes. However, since that this methodology is a process-based, it may not be able enough to be adjusted, especially when used in software industry. More so, if there are changes, the project team may find it difficult to adjust because they are accustomed to one field of work.

Conclusion :

Project management is about identifying the tasks to be given and maximizing the time and resources available for the team to utilize. There are different types of project management approaches to be applied depending on the project scope and requirements. The project manager is advised to have a thorough research on these methodologies before applying it.

PRINCE2 is a registered Trade Mark of AXELOS Limited.

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