PRINCE2® is a structured Project Management method for Projects in Controlled Environments. The UK government initially established PRINCE2® in 1989 for its Information Technology projects. This method is mostly used for managing projects. It is a method based on experience drawn from thousands of real-life projects. Additionally, it derives inputs from various experienced project managers, trainers, consultants etc. It is designed to be quite generic and mouldable.
Table of content
- What is PRINCE2®?
- PRINCE2® accreditations
- Seven PRINCE2® Principles
- How can PRINCE2® benefit you?
What is PRINCE2®?
PRINCE2® is a Project Management methodology that suits the requirements of a project of any scale or size, various industries, tools and teams. This technique can be applied or combined with a hybrid Project Management methodology. It assists in increasing the efficiency of the workflow, making it much smoother and more feasible.
It has the ability to fit into any industry or organisation. Working within a framework is difficult when it comes to project management, but PRINCE2 makes this easier for the project team.
It is essential that you acquire accredited certifications in PRINCE2 if you want to build your career in Project Management. The two qualification levels required to complete the PRINCE2 certification are:
PRINCE2® Foundation confirms your knowledge and understanding of the method. You learn all the significant concepts of PRINCE2® methods by training for the foundation credential. If you want to pursue a project management career, choose PRINCE2® Foundation & Practitioner Training Course to manage projects efficiently. This will help you to plan, manage and deliver projects from start to finish.
PRINCE2® practitioner testifies your knowledge and skills to apply and adapt the method in a real-life scenario.
Seven PRINCE2® Principles
- Continued business Justification– Any project should have one or more valid reasons for applying the PRINCE2 method before you initiate it. This justification should carry throughout the duration of your project.
- Learn from experience– It requires all the project members to learn from their experience or any early stage of the present project. Reviewing the lessons learned from previous projects helps imply an improvement in upcoming projects. Lessons learned will assist the team in proactively identifying, mitigating and managing the overall risks in the following projects.
- Defined roles and responsibilities- The project team consists of a organisational structure. Tasks should be assigned according to the skillset of the team members keeping the business, user, and supplier stakeholder interests in mind.
- Manage by stages– PRINCE2® project should be planned, monitored and controlled on a stage-by-stage basis. The right Project Management phases will be chosen based on the project’s size and complexity, deadline, control points, and organisational norms.
- Manage by exception– The project board has the authority to make any modifications to the project in exceptional cases when the requirement arises. Board members are usually involved in determining the cost, schedule and risks involved in the project. Usually the execution of the project is done by the Project Manager. But if the need arises, board members can intrude and make any changes based on the established requirements.
- Focus on products- To achieve better outcomes, these projects concentrate mostly on the product identification, execution and quality criteria.
- Tailor to suit the project environment– PRINCE2® must be tailored to suit the project’s requirements, such as the size, cost, complexity and control points.
How can PRINCE2® benefit you?
Greater employment opportunities– Using PRINCE2® Certification, you will get the chance to work in roles such as Project Administrator, Project Coordinator, Project Analyst, and Program Manager.
Increased salaries– The certification will help you land better employment opportunities with high pay grades.
No arbitrary prerequisites– One of the significant benefits of PRINCE2® Certification is that it has no formal prerequisites. Anyone can apply for it, even without having any prior experience.
Designed to adapt to any industry– The practice-driven management style of PRINCE2® is well-known throughout the world. It may be customised for any project type, including Agile projects.
Better Project Management skills– Adopting the PRINCE2® methodology will maximise project control, hence increasing the probability that your project will be successful.
Increased sales of projects– Clients tend to hand over projects to those organisations where they see that the Project Manager is PRINCE2® Certified.
Using PRINCE2® Certification, you can develop your project management skills. It is advised that all Project Managers should preferably learn PRINCE2® because of the many benefits they will gain. Compared to other conventional methods, PRINCE2® is widely popular as it uses a more defined methodology. It clearly defines each individual’s responsibilities in the team and clarifies the work process.