Everyone might not know about the PRINCE2 methodology, which is becoming prevalent in businesses. Well, PRINCE2 is defined as a process-based method that provides you with the fundamental skills that help you become a successful project manager. Here, PRINCE is an acronym that stands for Project IN Controlled Environments. This method is recognized across the world. The PRINCE method is entirely scalable, and it is one of the recent frameworks used for tailoring the projects undertaken by the project manager.
A company that follows the PRINCE 2 methodology has the following benefits.
- Consistent approach
- A controlled and organized beginning, middle, and end
- Regular reviews of the progress of the projects
- The project that has a business justification
The PRINCE method is widely used in companies to ensure their growth and success. It is important to note that people must take the PRINCE2 Foundation Certification in Project Management as this will lead to the growth of the individual as well as the company.
Now, in order to take up the PRINCE2® Foundation certification, one can apply anytime. This certification course is split into two parts – foundation & practitioner. The foundation level of PRINCE2® gives you an insight into the PRINCE2 principles, procedures, and themes. It teaches the candidates to deliver projects on time and within the budgeted plan. In this way, the candidate can calculate the risks and take necessary actions for them.
On the other hand, at the practitioner level, the candidate will learn to apply the techniques and tools in order to complete projects. They also learn to tailor the PRINCE2 method in order to address the needs and issues of the projects.
Let us now discuss the processes involved in the PRINCE2 method.
Processes of PRINCE2
There are seven processes involved in the PRINCE2 processes. Here they are!
- Directing the Project (Additional step)
A project manager must direct a project once the project starts. This project is aimed at the Project Board. The project board is responsible for managing and monitoring the reports, thereby controlling a number of decisions.
This key process can be broken into four main areas. They are:
- Initiation – Beginning the project
- Boundaries of the stage – Resources needed after knowing the progress of the projects.
- Direction – Monitoring progress and providing guidance, etc.
- Closing the Project – Confirming that the project is completed.
- Starting a Project
Besides the process mentioned above, starting a project is the first process of PRINCE2. It is a process that is designed to ensure the prerequisites for initiating the project. This process is built around the production of three things. They are:
- Ensuring the information required for the project is completely available.
- Undertaking the process of designing and appointing the project management team.
- Creating and strategizing a stage plan.
- Project Initiation
This process involves a number of objectives to be fulfilled. They are:
- Establishing stable management for the completion of the project.
- Documenting and confirming that the business case exists for a specific project.
- Ensuring that there is a firm and accepted foundation, to begin with the project.
- Agreeing to the commitment of resources in order to undertake the first process for the project.
- Encouraging the project board to take project ownership.
- Providing the team with the baseline in order to make decisions during the life of the project.
- Ensuring that there is ample investment of time and effort in the project and that the decisions are made with discretion.
- Analyzing the risks associated with the project and coming up with solutions for it.
- Managing the Stage Boundaries
This process involved project boards with some critical decision points. The board is responsible for deciding whether the project should be continued or not.
The objectives of this process are as follows:
- Assuring that the project board is planning the current stage plan. The plan should be completed and defined.
- Providing the entire information to the project board regarding the project in order to maintain its viability.
- Providing all the information to the project board in order to make the board approve the completion of the current stage and begin with the next stage.
- Recording the measurements can help the team in the later stages in order to finish it off smoothly.
- Controlling the Stage
This process includes monitoring and controlling the activities of the project manager and his/ her team. The team ensures that the stage remains on track and reacts to unexpected events. This process is the core of the project and is responsible for handling the day-to-day management of the project.
The cycle of undertaking the process is as follows:
- Authorizing the work that needs to be done.
- Observing changes taking place in the project.
- Reviewing the situation of the project.
- Gathering the required information about the project.
- Reporting the details of the project to the Project Board.
- Taking corrective action if anything goes wrong.
This process covers the activities that help in the successful completion of the project.
- Managing the Delivery of the Project
The main aim of this process is to ensure that the planned products are delivered on time. Here are the objectives of this process.
- Making sure that the work allocated to the management team is done effectively by authorizing and checking the work packages.
- Ensuring that the work is in accordance with the interfaces of the work packages.
- Ensuring that the work is completed.
- Assessing the progress of work.
- Forecasting the work regularly.
- Ensuring that the projects meet the quality standard of the organization.
- Obtaining the approval of the projects that have been completed.
- Completing the Project
The main aim of this process is to execute the project undertaken in order to close it. This process includes the work of the project manager to wrap up the project be it premature or complete end. Most of the work done on the project is to prepare it for the input from the Project Board to obtain its confirmation.
The objective of the closing process is as follows:
- Ensuring that the objectives of the projects are completed.
- Confirming the project fulfillment and ensuring that it meets the demands of the customers.
- Obtaining the formal acceptance of the project.
- Ensuring the extent of the project that has been accepted by the consumers.
- Confirming the maintenance and operational arrangements of the project.
- Taking some corrective actions if anything in the project goes wrong.
- Prepare the end project report.
- Notifying the organization of the completion of the project.
So, these are the processes included in the PRINCE2 method. Planning is an additional stage in this method that reflects the needs of the organization and management levels. The planning process is repeatable and includes how the plan must be made.
The activities of the planning include:
- Designing the plan
- Analyzing the products
- Identifying the project activities and dependencies
- Preparing estimates
- Preparing the schedule
- Analyzing the risks involved in the project
- Documenting the plan
PRINCE2 is an amazing method employed by companies to complete projects and undertake business processes smoothly. If you are a working professional or a student, you can take up the PRINCE2 foundation certification in Project Management. The course will help you acquire project-related skills that will help you and the company in the long run.
You can prepare effectively for the PRINCE® foundation exam and level up your project management skills. So, don’t think much and apply today to these courses and make way for high-paid jobs and positions in top companies!
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