Get PRINCE2® Certified
8K- by KnowledgeHut
- 12th Apr, 2019
- Last updated on 22nd May, 2019
- 15 mins read
Gone are the days when one can stay satisfied with one’s job and stay relaxed about securing one’s future. Nowadays, it is no longer an ‘An easy and relaxed life’ anymore. Things have changed a lot and will keep doing so. It is a ‘Dog-eat-dog world’ where the competition is as fierce as it can possibly be.
So what does one need to grow in one’s career? A tool that gives an advantage over others. Project management is the key to ensure that the project triangle is properly maintained which results in keeping the budget, scope, and timely delivery in check. This also unites the team and keeps everybody on the same page. Projects being delivered effectively on time creates a positive impact on the entire organisation as well.
To do that, we need a methodology. PRINCE2® is one of those methods, excelling in which will take you to that next level in handling a particular project for any organisation in the most effective manner. It is the most frequently-used project management method and will offer you the confidence to manage your project effectively with success.
In this article, we will discuss what PRINCE2® certification holds, the requirements needed to apply for the same, the benefits involved, and the proper procedure to apply for the examination.
If you are interested to know about the above, then you have reached the right place.
So, let us begin.
What does the PRINCE2® Certification hold for you?
PRINCE2® is made up of 7 principles, themes, processes, and project environment. The method used aids in managing projects with success no matter what the size and scale of a project are.
PRINCE2® includes the following:
- The PRINCE2® manual – Managing Successful Projects with PRINCE2® 2017 Edition
- A Certification Scheme to help you reach either the ‘Foundation’ level or the ’Practitioner’
- A Membership subscription facility.
To get PRINCE2® certified, you need to know that there are four levels in PRINCE2® Certification:
- PRINCE2® Foundation is the entry level
- PRINCE2® Practitioner is the advanced level
- PRINCE2® Agile Foundation
- PRINCE2® Agile Practitioner qualification.
Even if there are four levels of certifications for PRINCE2®, the first two, PRINCE2® Foundation, and PRINCE2® Practitioner are the most sought after and the prerequisites vary for each of them.
Let us have a look at each of their requirements and what you will learn from them.
- PRINCE2® Foundation qualification will educate you with the principles of PRINCE2®, its themes, terminology, and the way you will be able to implement PRINCE2® methodology to a project environment supporting PRINCE2®, thus making you an informed member of a project management team.
Prerequisites:
There are no specific pre-conditions for the Foundation level certification.
- You may study this on your own or as take it as a prerequisite to the PRINCE2® Practitioner course
- However, with respect to PRINCE2® Certification Requirements, while it is not mandatory, having a basic knowledge of managing projects is always preferred.
In that way, training in PRINCE2® will prepare you for the Foundation level certification in a much better manner in familiarising you with the methods, terms, and concepts.
- PRINCE2® Practitioner qualification will prepare you to apply PRINCE2® methodology in running and managing a project in an environment which supports the idea of implementing PRINCE2®. Once are able to do so, you will be able to apply PRINCE2® accordingly to take care of the requirements and issues that emerge from a specific project scenario. This results in you getting a comprehensible knowledge about relating PRINCE2® principles with its themes, processes, and PRINCE2® products, and understand them at the same time.
Prerequisites:
To go for this course and examination, you will need to provide proof that you passed one of the following:
- PRINCE2® Foundation
- Project Management Professional (PMP®)
- Certified Associate in Project Management (CAPM)
- IPMA Level A (Certified Projects Director)
- IPMA Level B (Certified Senior Project Manager)
- IPMA Level C (Certified Project Manager)
- IPMA Level D (Certified Project Management Associate).
Only present-day certifications will qualify as a prerequisite.
- PRINCE2® Agile Foundation qualification comes into the picture once you are aware of what PRINCE2® processes, themes, and principles are, will educate you about governing PRINCE2® and an extensive range of agile concepts. It is similar to PRINCE2® Foundation and after being qualified, you will be able to understand how PRINCE2® 's methodology goes hand in hand with agile concepts while being an informed member of an agile project team simultaneously.
- PRINCE2® Agile Practitioner qualification teaches certified project managers on how to combine PRINCE2®'s structure, governance, and control with agile methods, techniques and approaches to get an effective result.
Prerequisites:
Just like PRINCE2® Practitioner, you will need to furnish proof of having passed one of the following:
- PRINCE2® Foundation (or higher)
- Project Management Professional (PMP®)
- Certified Associate in Project Management (CAPM)
- IPMA Level A (Certified Projects Director)
- IPMA Level B (Certified Senior Project Manager)
- IPMA Level C (Certified Project Manager)
- IPMA Level D (Certified Project Management Associate).
Like before, only current certifications will qualify as a prerequisite.
However, all the levels of certification have the same examination style and structure.
Who can go for PRINCE2® certification?
Anybody can use PRINCE2® to manage their projects. If you are a project designer, or into the development and delivery of projects, then you will find this certification very helpful. Moreover, if you currently are a project manager or planning to become one, then PRINCE2® certification is the one for you.
The PRINCE2® Foundation certification is for professionals who want to indicate that they can be an informed and effective member of a project management team by knowing PRINCE2® methodology, its themes, principles and processes within a PRINCE2® supporting environment.
Moreover, the PRINCE2® Foundation Certification also acts as a prerequisite for professionals who want to get PRINCE2® Practitioner or PRINCE2® Agile certified.
The PRINCE2® Practitioner Certification is for professionals who have sufficient knowledge about PRINCE2® methodologies and the application of the same, working effectively and actively with a project management team in a specific scenario and within a PRINCE2® supporting environment.
What are the PRINCE2® training options?
- You can attend classroom training or study online
- Visit this Axelos link or the PRINCE2® website to find a local PRINCE2® Classroom Training or Online Training centre.
Tell me about the PRINCE2® Certification examinations.
Now that we have discussed the requirements of the PRINCE2® Certifications, let us understand the style and structure of the PRINCE2® Certification examinations to help you know how to pass it.
Understanding the examination format
It is quite normal to have lots of questions about the examination format, as this is one of the most crucial inquiries.
PRINCE2® examinations are either undergone:
- As a part of a PRINCE2® accredited training course through your PRINCE2® training provider
- Online
- At a public PRINCE2® examination centre.
Regardless of which option you choose, the style and structure of each examination remain nearly the same.
First, we will cover the examination structure. Let us go through them one by one.
PRINCE2® Foundation Level Certification Examination 2009:
- The duration of the examination is 60 minutes.
- It includes 75 questions.
- You will need 50% to pass the examination. So you will need to get at least 35 out of the total 70 questions correct. Please note that 5 of the questions are for trial and are not counted in your final score.
- It will have a ‘Multiple Choice Question’ pattern.
- There is no negative marking.
PRINCE2® Foundation Level Certification Examination 2017:
- The duration of the examination is 60 minutes
- It includes 60 questions
- You will need 55% to pass the examination. So you will need to get at least 33 out of the total 60 questions correct
- It will have a ‘Multiple Choice Question’ pattern
- There is no negative marking
- There will be a Reference Book: Managing Successful Projects with PRINCE2® publication, 2017 edition. But, it will be a closed book examination
- There will be various types of questions: You may be given the regular question pattern with 4-Answer options, or filling a missing word type or pick 2 correct statements from a given list of 4 statements.
But you might be wondering how the 2009 Certification differs from the 2017 version, and if either the requirements or the content has changed. Well, here is what is new about PRINCE2® 2017:
- It has a revised PRINCE2® Guidance
- Emphasises the approach in the methods of managing projects using the same 7 principles, themes and processes
- Customises PRINCE2® for the specific organisational and environmental need
- Focuses on the relationship between themes and principles
- Redraws ‘Themes’ to include pertinent and specific examples of tailoring
- Provides more examples of practical application of methods and guidance to enable you to use for project management
- Has become even more a ready reckoner and reference for all aspects of managing projects
- Puts more emphasis on membership for practitioners and foundation level certification holders to stay up to date and validate their certifications.
Now, let us analyse the PRINCE2® Practitioner examination requirements as well.
PRINCE2® Practitioner Level Certification Examination 2009:
- Type of questions: Objective
- There will be 8 questions – 10 question items per question, each worth one mark
- You will need 55% to pass the examination. So you will need to get at least 44 out of the total 80 questions correct
- The duration of the examination is 150 minutes (2 and a half hours)
- It will be an open book examination (Official PRINCE2® manual only).
You might get this question about what you will need to do if you have a 2009 certificate, that whether you will need to reappear for the examination in the new 2017 format or wonder what the PRINCE2® certifications might reflect.
If you hold a 2009 credential, you will not need to appear for the examination again!
But, as the update was made to add more best practices or make subtle adjustments to the existing content, it is good to have an understanding of the revised material.
This can be done by:
Purchasing the 2017 PRINCE2® manual:
- Take AXELOS membership
- Go through the FAQs published on AXELOS website
- Be a part of the AXELOS community account.
PRINCE2® Practitioner Level Certification Examination 2017:
- Type of questions: Objective
- There will be a total of 68 questions
- You will need 55% to pass the examination. So you will need to get at least 38 out of the total 68 questions correct
- The duration of the examination is 150 minutes (2 and a half hours)
- It will be an open book examination (Official PRINCE2® manual only).
What is the outcome of being certified as a PRINCE2® Practitioner?
When you become a certified PRINCE2® Practitioner, you demonstrate your ability to implement PRINCE2® methodology in multiple environments for any kind of project, and according to the specifications of your organisation. That is why, in project management, PRINCE2® Foundation certification level remains as one of the crucial requirements to pursue the Practitioner level.
About the validity of the Practitioner certificate:
Although the PRINCE2® Foundation certificate has lifelong validity, the Practitioner Certificate is not. It will expire three calendar years from their original certification.
You either will need to resit for the Practitioner examination or renew your certificate through a subscription to My PRINCE2®.
Here are the criteria that you need to meet within the three-year period, to make sure that you stay updated through My PRINCE2®:
- Join My PRINCE2® within three months of passing your Practitioner examination and renew your subscription every year during the three-year period. The membership fee is £50.00 + Taxes per year.
- You will need to maintain the PRINCE2® digital badge which you will get as a part of My PRINCE2® during the three-year period. During that period of time, you will require to earn 20 CPD points each year in the prescribed categories to be eligible for the renewal extension of your badge.
This will result in you getting your Practitioner certificate renewed for a further three years.
You will have the one year’s subscription included with your PRINCE2® Practitioner certificate. My PRINCE2® is an online subscription to the latest resources and content assisting you to apply everything that you learned during the PRINCE2® Practitioner examination to the workplace, as well as sharpening your skills and knowledge in line with future innovations in project and programme management.
What are the benefits of being registered My PRINCE2®?
As a My PRINCE2® subscriber, you will have access to:
- PRINCE2® templates and publications to apply ‘PRINCE2® best practice’
- A CPD toolset to keep your certificate up-to-date.
Axelos will contact the successful candidates with a discount code. When contacted, the chosen candidates should have opted into AXELOS’s Successful Candidates Register at the time of examination registration. For any relevant enquiries, the candidates can email Axelos at membership@axelos.com.
What is My PRINCE2®?
My PRINCE2® is the go-to best practice subscription for project management professionals. It provides you with every possible practical help, easily accessible support, and professional approval to develop your project management career.
You will get easy access to:
- PRINCE2® 2017 and PRINCE2® Agile official online guidance
- PRINCE2® 2017 templates to support you with every project
- Exclusive white papers
- Member’s discounts to industry publications, training courses, and events.
But what are PRINCE2® digital badges?
Digital badges are tokens that look like icons. They are granted to imply that you have reached an accomplishment. It is a simple process to verify and share information online. Your digital badge contains and reveals information regarding the activity of your professional improvement along with the issue date and an expiry date.
AXELOS authorises this information and delivers it using metadata to avoid alterations. Employers and recruiters can use these badges to verify an individual’s credentials and can act as a differentiator.
Your badge will show the highest certification that you hold. For example, if you hold both a PRINCE2® Foundation and PRINCE2® Practitioner certification, then you will receive a PRINCE2® Practitioner badge.
What is the outcome of being certified as a PRINCE2® Practitioner?
When you become a certified PRINCE2® Practitioner, you demonstrate your ability to implement PRINCE2® methodology in multiple environments for any kind of project, and according to the specifications of your organisation. That is why, in project management, PRINCE2® Foundation certification level remains as one of the crucial requirements to pursue the Practitioner level.
Cost of PRINCE2® certifications
Firstly, the components involved in the PRINCE2® certification cost are:
- PRINCE2® Training
- PRINCE2® examination
- Cost of Sample Examination papers
- Study Guide
- Membership fee.
From PRINCE2® Foundation to PRINCE2® Practitioner, the training and examination costs change from country to country and from one accredited training organisation to another. All the fees are approximate values and you will need to contact the accredited training organisations to check the exact costs.
The components involved in the PRINCE2® certification cost are:
- PRINCE2® Training
- PRINCE2® exam
- Cost of Sample Examination papers
- Study Guide
- Membership fee.
Choosing a PRINCE2® course online results in the cost of your training component in PRINCE2® being as low as under $300. Do keep in mind to go for a PRINCE2® Foundation & Practitioner Certification examinations bundle. By doing so, you will get access to the entire course that will last for a year. Some training providers do provide such courses for just $60 if you desire to finish the same in one month’s time. Generally, you could have to pay around $900 for the Foundation examination, but if you get one of those combined courses featuring both PRINCE2® Foundation & Practitioner Certification examinations, then you automatically would end up paying much less on the PRINCE2® certification.
Nevertheless, if you decide to attend classroom training, then you may have to pay around $1000 for your PRINCE2® certification. Quite some of these PRINCE2® courses cover the cost of the PRINCE2® Foundation & Practitioner Certification examinations. So do make a note of the cost of the PRINCE2® certification if you intend to go for PRINCE2® training. On top of that, do pay attention to the extent of course coverage, flexibility and the bundled services that each accredited training organisation has to offer. Doing so will help you save money on the cost of PRINCE2® certification.
PRINCE2® course online
Going for a PRINCE2® course online will help you save a lot of money on the cost of PRINCE2® examination. The online course for PRINCE2® Foundation level may cost you €450 or more. However, the classroom session may cost €1000 or higher. So, in this manner, you will be able to cut down on the cost of the PRINCE2® examination if you choose for the online course.
PRINCE2® Examination and Certification Info
| Info/ Examination type | Foundation | Practitioner |
|---|---|---|
| Question type | Objective | Objective |
| Certification family | PRINCE2® | PRINCE2® |
| Conducted by | PEOPLECERT | PEOPLECERT |
| Created by | AXELOS | AXELOS |
| Level | Foundation | Advanced |
| Re-certification | Not required | Required |
| Number of questions | 60 | 68 |
| Time allotted | 60 minutes | 150 minutes, 180 minutes for languages other than English |
| Marks to qualify | 33 out of 60 | 38 out of 68 |
| Closed/Open book | Closed book | Open book Only the manual is allowed |
| Examination Languages | 6 | 6 |
The languages that the examinations are held in are:
- Dutch
- English
- French
- German
- Norwegian
- Polish
You can check the PEOPLECERT website for more information.
Choosing the test centre and scheduling/rescheduling/cancelling the examination
Follow these steps in order to register for the examination and choose the examination centre.
- Via Pearson Vue:
Step 1: Visit the link:
Step 2: Scroll to the bottom of the page and look for the header ‘Take the Exam’.
Step 3: At the bottom right corner of the screen, under ‘Approved Test Centre’, click ‘Pearson Vue’.
Step 4: You will be taken to the page of Pearson Vue
Step 5: At the right-hand side of the page, you will see a host of options. You will need to sign in or create an account to schedule, reschedule or cancel an examination.
Step 6: To find a test centre, look just below where you are asked to sign-in and you will need to either click on ‘Find a Test Center’ or ‘Find a test center on a military base’ to search for the test centre according to your choice.
Step 7: Proceed with the chosen test centre to schedule the examination date that you prefer.
- Via Prometric:
Step 1: Repeat step 1 from above.
Step 2: Scroll to the bottom of the page and look for the header ‘Take the Exam’.
Step 3: At the bottom right corner of the screen, under ‘Approved Test Centre’ click ‘Prometric’.
Step 4: You will be taken to the page of Prometric:
Step 5: At the top of the page you will find four options:
- ‘Schedule My Test’: Click this option if you want to schedule the day and date of your examination.
- ‘Locate A Test Center’: Click this option if you want to find the test center according to your choice.
- ‘Reschedule/Cancel My Test’: Click this option if you want to reschedule the day of your examinations or cancel it.
- ‘Confirm My Test’: Click this option if you want to get a confirmation on the test centre, the day and date when your examination will be held.
PRINCE2® Syllabus
In order to excel in the PRINCE2® certification examinations, you will need to know exactly what will be taught in the certification courses. We will go through the syllabus of both the PRINCE2® Foundation and PRINCE2® Practitioner certification levels.
PRINCE2® Foundation Syllabus:
The PRINCE2® Foundation examination intends to test your capability to understand how Prince 2 methodologies work in a project and to be able to act as an informed member of a project management team using the PRINCE2® methodology within a project environment.
You will need to exhibit that you have a proper understanding of the principles of the method and terminology. You must be able to:
- Explain the purpose and major content of all roles, the seven principles, the seven themes, and the seven processes
- Mention which management products are to be included as input or output from the seven processes
- State the main purpose, and key contents, of the major management products
- Tell the relationships between processes, deliverables, roles and the management dimensions of a project.
PRINCE2® Practitioner Syllabus
The Practitioner is the second of the two PRINCE2® examinations that you require to pass to become a Registered PRINCE2® Practitioner.
This PRINCE2® examination test your ability to be able to understand and implement PRINCE2® in running and managing of a project within an environment supporting PRINCE2®. You will require to show that you have what it takes to excel to get qualified with the Foundation certification. You need to demonstrate that you can fine-tune PRINCE2® to address the requirements and issues of any given project scenario. You should be able to:
- Elaborate all the principles, themes and processes and examples of all PRINCE2® products that are worked on, in the manner they might be applied to address the particular situation of a given project scenario
- Show that you do understand how principles, themes, processes, and PRINCE2® products are related to each other and can implement the same
- Demonstrate that you do understand the reasons behind the principles, themes, and processes of PRINCE2® and the principles assisting these elements
- You must be able to fine-tune PRINCE2® to different project circumstances.
Now, after knowing all about getting PRINCE2® certified, you definitely will be curious to know how this certification benefits you.
Here are the benefits of getting PRINCE2® certified:
- Growth in career: Both levels of certifications, be it PRINCE2® Foundation or PRINCE2® Practitioner, boost your career in the best manner possible. If you think you fill in all the checkboxes of the PRINCE2® Certification Requirements, then PRINCE2® certification should become one of your most sought after resolutions.
- Increase in salary: As it is a much sought after credential, PRINCE2® definitely increases your chances to get a raise.
- Professional Recognition: As a result of being PRINCE2® certified, you will get more recognition and credibility from your peers and organisation.
- Best Practice: You know what it takes to manage projects in the most efficient way possible and thus you can implement your ideas on the same, The certification adds value to your career, which in turn makes you a valuable asset to your company.
PRINCE2® Vs PMP®
Both PRINCE2® and PMP® are two well-acclaimed certifications in Project Management. They comprise of different ideas that are special in their own way. It is really difficult to ascertain which one of these two is better and proves itself as the best choice for an individual in Project Management.
Let us have a look at the similarities between these two and compare them with each other Conclusion.
Similarities:
- Both deliver the methods of project management.
- The prime focus is to manage projects with efficiency.
- Both are well-known throughout the world.
- In order to complete both the certifications, proper training and evaluations are to be conducted and completed successfully.
Comparisons:
| PRINCE2® | PMP® |
|---|---|
| It is a methodology including processes and templates in details. | It is based on PMBOK, which is not a methodology but a standard. |
| It is more applicable to the IT industry. | It is a general knowledge base for project management and relevant to many industries. |
| It originated in the UK and is widely accepted in Europe and Australia. | It was born in the USA and is very popular in North America, the Middle East and Asia. |
| It has three levels: Foundation, Practitioner and Professional. | It has only one level. |
| A Project Manager is a mediator between the project and the control board. | A Project Manager is the one responsible for the outcome of the project. |
Conclusion
As we come to the end of our discussion, you do realise that the PRINCE2® Certification requirements give you a proper head start to realise what exactly you need to become a PRINCE2® certification professional.
It is quite evident that you will need proper training to help you clear the examination, even if this point is not mentioned in the requirements. So, you will require to choose an accredited and certified training provider to guide you throughout the term of certification. Good luck on your ventures ahead!
KnowledgeHut
KnowledgeHut is a fast growing Management Consulting and Training firm that is a source of Intelligent Information support for businesses and professionals across the globe.
Website : http://www.knowledgehut.com/
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New functionality has been found that needs to be added to the scope of the project. Something new might come up after impact analysis that may push the project dates. Two new changes which are the outcome of Impact analysis resulted in pushing the project deadline by a week. First of all, let’s look at the high-level difference between “Issues” & Risks”: Now let’s see how risks & issues play an integral role in a project: In general, if a project manager identifies all the possible negative risks and their respective response plans within the project, then the possibility of issues can be drastically reduced. (i.e. prevention is better than cure). However, certain unforeseen situations may still arise which turn out to be issues. They could be certain potential risks which were unidentified in the past. They could also be risks which have been already identified, where the risk response plans are inadequate- and those events turn into issues and impact the project. If a project manager pays inadequate attention to risk management, there is a greater possibility of his spending his valuable time & efforts later in managing the issues that arise! Now, when it comes to issue management the project manager will document the issues in the “issue register” and will perform an issue analysis to identify the possible “work-arounds” to fix the issue. For example: Let us suppose there is a FIRE in the room. If we consider this in the context of issue & work-around, we say that there has been an occurrence of a fire, and we need to put it off by using a fire extinguisher. Since issues are present focused, there is a very limited time available to identify the work-arounds required to fix the issue. Once the work-arounds are identified, it’s also equally important that such issues should not get repeated in the future. There should also not be any possibility of re-occurrences in a different form, in order to bring it to a permanent closure. In case of a re-occurrence then such events will be treated as “risks” because risks are future focused. They will be documented in the “risk register” and then sufficient risk response plans should be identified to cover those possible future risks. What are the types of risks in Project Management? Risks in projects are inclusive of both internal risks that are associated with the successful completion of each project as well as the risks that are beyond the project team’s control. The following are a few of the most common project risks: Cost risk: This refers to the escalation of project costs as a result of poor cost estimating accuracy and scope creep. Schedule risk: This refers to the risk of activities taking longer than expected. Drifting away from the schedule typically increase costs which leads to a delay of receiving project benefits and possible loss of competitive advantage. Performance risk: This refers to the risk of failure to produce consistent results with project specifications. There are some other risks which result in cost, schedule, or performance problems and create other types of adverse consequences for the organisation. They are as follows: Governance risk: This risk relates to the board and management performance with regard to ethics, community stewardship, and company reputation. Strategic risks: These risks are the result of the errors in strategy like choosing a technology that can’t be made to work. Operational risk: These risks comprise of risks from poor implementation and process problems like production, procurement, and distribution. Market risks: These risks comprise of risks related to foreign exchange, competition, interest rate, and commodity markets. This also includes liquidity and credit risks. Legal risks: These risks arise because of legal and regulatory obligations which include contract risks and litigation brought against the organisation. External hazards risks: These risks are incurred due to storms, floods, and earthquakes. Other than these, vandalism, sabotage, terrorism, labor strikes, and civil unrest are responsible for such type of risks. What is the importance of risk identification? The most important step in risk management is identifying risks. It involves generating a comprehensive list of threats and opportunities which are based on events that might prevent, enhance, accelerate, degrade, or delay the achievement of your objectives. You can’t manage risk without identifying it. But how to identify risks? One of the key steps in a proactive risk management process is to identify risks. You must look at the following sources in order to identify your project risk: Sources Description Risk registers and risk reports Provide a foundation for the evaluation of existing risks and their potential risk to an objective. Issues log It comprises of the issues and the actions considered to resolve them. Analyze the issues that were formally identified as risks. Audit reports These are the independent view of adherence to regulatory guidelines which include a review of compliance preparations, access controls, security policies, and risk management. Business Impact Analysis (BIA) It is a detailed risk analysis that is done in order to examine the nature and extent of disruptions and the likelihood of resulting consequences. Internal & external reviews These reviews are undertaken in order to evaluate the adequacy, suitability, and effectiveness of the department’s systems, and to plan for the scope of improvement. Perspectives for Risk Management It is important to realise the perspectives for risk management and evaluate them during a program’s life continuously in order to anticipate risks at an early stage and tackle issues appropriately. Few of the risk management perspectives are as follows: Strategic level: The interdependencies of the program with other initiatives, its outcomes, and benefits realisation are affected by the strategic level changes. These changes are driven by: External factors like political, economic, social, legislative, environmental, and technical Internal political pressure Inter-program dependencies Working with third-party suppliers along with other cross-organisational initiatives can be grouped under this level. Program level: The focus of a program is to deliver benefits to an organisation that positively or negatively affects both internal and external stakeholders. Risk Management for a program must be designed to work across organisational boundaries to ensure effective engagement of stakeholders and accommodation of different interests. The principal areas of risk and issues within a program are driven by: Aggregating project threats Lack of direction from the group of leaders Lack of clarity about expected benefits and buy-in from stakeholders Complexity of outcomes You should also consider the compilations associated with working across the organisational boundaries as another factor Availability of resource Lack of certainty about funding This also includes unrealistic timelines that increase program delivery risks. Project level: Project outputs help in delivering the outcomes and benefits within a program. Focusing on the risk and issue management on project perspective is important Areas leading to the rise of project risks and issues, resource constraints, scheduling issues, and scope creep It may lead to issues and risks if the project is unsure of what it is delivering. Operational level: The transition of a project to new ways of working and new systems can lead to further sources of risk as projects deliver the outputs. The following areas can be included in the operational level perspectives: The quality of the benefit-enabling outputs from projects within program Cultural and organisational issues Output transfer to operations and the ability to cope with new ways of working The risks can further be identified in stakeholder support Industrial relations Availability of resources to support changes. Early warning indicators for risks in project management The early warning indicators for project management can be defined as follows: In order to anticipate potential problems, there needs to be proactive risk management. These indicators offer advance warning about trends or events that can affect the outcomes of the program adversely. The sensitive risks can be tracked with the help of these indicators. Few of the early warning indicators are delays in delivery of expected or planned benefits, requests to change key program information, increase in aggregated risks, changes to organisational services, structure, and processes. Further, these indicators should be able to measure valid indicators, reviewed on a regular basis, and they should use accurate information. This ensures the effective functioning of the early warning indicators. The other methods which can be deployed to evaluate risks are as follows: Record the weighted average of the anticipated impact through the calculation of estimated monetary value. Calculate the accepted discount rate through the net present value calculation. Aggregate the risks together using a simulation technique through risk model. To conclude An experienced and certified project manager knows that every project involves identifying and managing project risks and project issues. Further, they are aware of the fact these risks and issues can be responsible for knocking a project off its track and divert the focus of the team away from fulfilling their responsibilities and goal achievements. This blog will help you to differentiate between project risk and project issues along with the key steps for identifying the risks. You will also understand the importance of risk identification and the perspectives of risk management. The blog also throws light on the early warning indicators to realise the risks in project management. This information will surely help you to realise the upcoming risk and avoid it for a smooth continuation of your project.![Risk vs Issues [ Based on Various Factors ]](https://d2o2utebsixu4k.cloudfront.net/media/images/834668d0-ee74-4c70-a221-117e75cc3291.jpg)
- by KnowledgeHut
- 20 May 2014
Can you guess a reason behind project failure? Her... Read More
The 7 Principles of PRINCE2®
By KnowledgeHut
There is a wide range of project management methodologies available in the market, but PRINCE2® is one of the most widely used project management methods that has been used by the enterprises and businesses in more than 150 countries. One of the sheer benefits of the PRINCE2® method is that it can be applied to different projects, irrespective of their sizes and business verticals. It is noticeable that the PRINCE2® project management method can be used in IT as well as non-IT projects too. It is a comprehensive project management method that can be applied to any project irrespective of their geographical location, industry sector and project size. The PRINCE2® course covers basic four elements: themes, processes, principles and project management. There are some impeccable benefits of a PRINCE2® certification for candidates. There are two major types of certification available in the PRINCE2® project method: PRINCE2® Foundation qualification PRINCE2® Practitioner qualification The foundation program is a basic course that covers basic principles and themes for supporting individuals who work in a project environment supported by PRINCE2®. Candidates who belong to engineering and technology can go for this Foundation qualification course. The PRINCE2® Practitioner qualification course is an advanced course that covers all the aspects of the PRINCE2® method including themes, processes, principles and project management. You will get a comprehensive introduction to the PRINCE2® project management method. There are some institutes that also train candidates for PRINCE2® management roles that are essential when the project is very big and complex. Here, the managers will be able to complete the project by assigning roles and responsibilities to the team members effectively and will be able to complete the project in a coordinated, consistent and superior manner. These courses are designed by experienced trainers who have years of experience and expertise in the domain and have a proven track record in the PRINCE2® project management. All you need to do is hire the best institute that offers the best PRINCE2® course and also helps in the placement activities too. There are businesses and enterprises that ask for candidates with a PRINCE2® certification; either foundation or practitioner certification. If you have this credential in your resume, it will improve your chance to get a job. All you need to do is to search for the right institute on the internet or your local business directory and that is all. What is PRINCE2® and why it is so popular amongst businesses? Projects in Controlled Environments, PRINCE2® is a high-quality project management method that has carved a niche for itself by offering superior project management processes, no matter how big or small your project is. It adds streamlined, controlled project management principles and themes that help managers to manage and control projects easily and effectively. You might still wonder whether PRINCE2® is the right tool for project management. What are the benefits of it? Why should you implement it on your current project management tools? To make things easier, we will discuss 7 principles of PRINCE2® method in details here. It is a process-based method that helps businesses to manage the project from start to finish. As we all know, before starting a project, it is important to plan it to avoid last-minute hurdles and hindrances. With the help of the PRINCE2® method, all the stages of the project are clearly described, roles and responsibilities are assigned to the teams and control and management of the project are easier to track. 7 principles of the PRINCE2® 1. Continued business justification: No matter which project you are working on, your project must have a clear justification including a clear requirement, a defined customer, feasible and scalable benefits and a complete cost assessment. This is the primary principle of the PRINCE2®. It helps you to stay focused on the project and you will be able to drive all your efforts to the common goal of the project- the desired goals and outcomes. 2. Learn from experience: Also, it is important that all the experiences are recorded for the future course of actions. Furthermore, it will help teams to learn from their mistakes and they will be able to finish projects with more dedication and expertise as they have learned lessons. All the stages and their outcomes are recorded in the PRINCE2® environment to make consistent and reliable learning. 3. Defined roles and responsibilities: When the team members have a clear understanding of their roles and responsibilities, it becomes easy for them to work with dedication and it also improves their productivity and performance too. With a PRINCE2® management method implementation, you would be able to define the roles and responsibilities of each team member to work more efficiently and effectively with unparalleled outcomes. 4. Manage by stages: Also, projects are completely broken in different sections and stages to manage them more effectively and accurately. Once the stage is over, it is reviewed by the superiors and learning will be recorded for the future course. This further helps management to ensure that the project is on its track and there are no loopholes involved in it. 5. Manage by exception: Board members are senior executives who have major roles and responsibilities in the organization and they cannot allocate time for the project on a daily basis. What they will be able to do is to define baseline requirements and assign them to the project manager. Some of the measurable elements of the project are time, cost, risk assessment, scopes, and others. If there are any issues such as project running late or is not on the track or goes out of budget, the project manager will take appropriate actions. However, there are some issues that might impact the establishment. Such issues are exceptions and here, board members intervene and make decisions. 6. Focus on the product: Also, teams are there to ensure that the deliverables are measured accurately and precisely and meet the project objectives. Superior quality control is the main thing that is always checked and compared with the requirements. 7. Tailor to suit the project: Different projects have different tailored requirements and with the PRINCE2® environment, tailored approach for each project is possible. The PRINCE2® method will be able to cater to your custom needs by adjusting different aspects of the method such as a number of team members, the amount of oversight and stage planning. Why PRINCE2®? What 2 stands for? There are chances that you might wonder what 2 stands for the PRINCE2® method. Well, the original PRINCE version was developed and introduced in the late 1980s specifically to manage IT projects. However, in 1996, the approach was reviewed and updated as per the latest issues and hindrances faced by the project management teams across the globe. A team of experienced project management specialists of more than 150 public and private organisations worked and updated the version and developed a new version that is more effective, efficient and accurate. The latest version is more improved and precise that addresses almost all the issues in a very defining manner. This latest version is called PRINCE2®. The number of roles in PRINCE2® PRINCE2® There are a total of three core roles: the project board, the project manager and the team. However, there are additional supplemental roles defined to make the project management more streamlined and linear. We will discuss the total of 7 roles in PRINCE2® The customer The customer is the one who owns the project and is paying the organization for the project to be completed. The user The user is one who will use the deliverables of the project or one who will be impacted by the outcome of the project. Sometimes, the user and the customer are the same people. The supplier A supplier is a person who possesses the expertise to complete the project and is responsible for delivering the best outcomes decided by the customer. He offers the knowledge and skills to complete the project. The project manager A project manager is a person who will monitor and control the complete project. The project manager is a very special person who is responsible for completing the project successfully. From planning, organising and controlling the work, everything will be done by the project manager. Also, the project manager will be responsible for forming the team and assigning roles and responsibilities to the team members and overseeing the work assigned to them. The project manager will also ensure that the project gets completed in the required timeframe and the outcomes are measurable and accurate as per the customer’s requirements. The project team and team managers The project teams are the ones who will perform the duties and tasks assigned to them effectively and efficiently. There might be one team or multiple teams to perform various tasks and actions. Teams might have a separate team leader who is responsible to ensure that the given tasks are completed in time. The administrator If the project size is small, the project manager will take responsibility of the administrator. However, in big and complex projects, the administrator is required. The administrator will be responsible for the setting up of meetings, tracking of the daily deliverables, updating everyone involved with the projects about important instructions and specifications about the project. A separate project support office is established to ensure that the project runs smoothly and completes in a given timeframe. The project board includes multiple people such as the customer, the end user and the supplier. There are three perspectives that are checked by the project board: The viability of the project is defined and checked by the customer to ensure that the project is important and should continue. The user ensures that all the needs are being met to complete the project on time. The supplier has a major responsibility. They will ensure that the project is running in the right direction and is offering a practical solution to the issue. The 7 phase process for the PRINCE2® project management method. Here, we will break the complete project management process in 7 parts to understand it more clearly. 1.Starting up a project Here, a customer submits a project requirement called the project mandate. It is a brief introduction to the needs and objectives of the project. The organization will access the project requirements and will make sure whether the company is able to complete the project or not. Once the project is approved, the customer will give a more detailed brief including actions, resources and other crucial information to complete the project. 2. Project direction Now the organization managers will check out the viability and justification of the project by reviewing and evaluating the project brief. They will assign a project manager and other necessities to complete the project. 3. Project initiation The project initiation document will be prepared by the project manager. The document will cover a comprehensive plan and six different factors including cost, quality, scope, time, risk and advantages. The documents will be sent to the project board for approval and once the board approves the plan, the project will start. 4. Stage controlling The whole project will be broken into different stages and to complete these, teams will be formed and assigned responsibilities. The project manager will map the process for each project stage and will take actions when any hindrances and loopholes arise. 5. Product delivery management The main responsibility of the project manager is to compare the deliverables and expectations from the project board. They will ensure that the deliverables meet the expectations. Once the project is completed, the board will review it and ask for revisions and changes if needed. 6. Stage boundaries management The manager and the board will evaluate and review the deliverables at each project stage to ensure that the project is going in the right direction. 7. Project closing Once the project is completed, the project manager will close threads such as documentation, outcomes and reporting. The PRINCE2® is a very effective and superior project management method as it offers impeccable opportunities to the project board and the project manager to track the success of the project at each stage of the project.
- by KnowledgeHut
- 29 Oct 2016
There is a wide range of project management method... Read More
PMI-ACP® Agile Certification Requirements and Processes
By KnowledgeHut
So. you want to get your PMI-ACP® certification and are wondering what the PMI-ACP® Certification course requirements and processes are! You are in the right place and this post will hopefully be beneficial in guiding you with regard to all the optional and mandatory steps required to apply for the certification. It’s obvious, whenever someone start a process (Certification Education) or anything new, the first question that comes to mind is, where should I start , and what are the requirements. The PMI-ACP® certification has been recently launched by PMI® . Here we have compiled a list of all the PMI-ACP® certification requirements and processes step by step in detail. PMI-ACP® Certification Requirements and Processes There are basically seven steps required for PMI-ACP® certification; some are optional while others are mandatory. Step #1: User ID: This is optional. Go to PMI.org and create a User ID. This is not mandatory but there are benefits and I will mention a few of them: Free. You will be able to create a profile and your mode of payment, which makes later access easy. You will get up to date information from PMI®. Step #2: Eligibility: This is the tricky part and most people get confused. (You can also go to PMI.org and perform the following steps to get updated information as PMI® may change their rules from time to time. Go to PMI.org —> select Certification —>select PMI-ACP. The eligibility is listed. Diploma: · High school. · One year of General Project Management experience with 2,000 hours of work with project teams. · Eight months of Agile Project Management experience with 1,500 hours of work with project teams using agile methodologies. · 21 hours of Agile Project Management Training. If you think you are eligible, move to step 3. Step #3: Membership: This is optional and is different than your user id. PMI® has a membership service, which offers some benefits. There are several types of membership and the fee is different for each type. Please do check PMI® Membership and Types, PMI® Membership Fee and PMI® Membership Benefits. Also please visit PMI.org for updated information on membership, types, and benefits in details and check whether the membership suits your needs or not. We are mentioning a few benefits of membership here: Free access to PMI® library and a free copy of PMBOK Access to Local PMI® chapter, useful for getting PDUs and networking Waiver in PMI®-ACP fee and re-certification fee Step #4: Application: Refer to Step #2, mentioning the education and project hours. Now you have to submit an application to PMI® showing proof of your education, the project hours and project management training that you have undergone. Previously, you had to do it online but now PMI® offers a downloadable pdf as well. You have to fill in the required details covering all processes and the hours you spend on each process. Step #5: Fee: When you submit your application, you will be contacted within a few working days and will be asked to deposit the fee for certification. Now as was mentioned previously, the fee is different for both members and non-members. Step #6: [one_half] A: Application accepted: You will be asked to proceed and schedule your exam at a Prometric center. B: Audit: PMI® randomly selects some applicants for an audit process.[/one_half] Step 6 has two parts as you can see; either your application will be accepted or put a hold for an audit. If you are one of the unlucky ones that are caught in the audit process then you have to show written confirmation from the bodies who authorize the education, experience and project management training. Step #7: Schedule exam: Once you are done with the above steps, the last step is to schedule your exam according to your convenience at prometric.com. However, before you schedule your exam, I would encourage you to read this article to familiarize yourself with the PMI®-ACP Exam Format.
- by KnowledgeHut
- 10 Apr 2013
- 3216 mins read
So. you want to get your PMI-ACP® certification... Read More
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