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PRINCE2® Qualifications (Levels Explained)

Competition brings out the best in us; we strive to become the best and outperform our peers and fellow colleagues and prove that we are better than them. This drive and need to excel is a good trait to have, especially in this competitive corporate world where standards keep getting higher and quality and excellence are rewarded. So what is it that will distinguish you from the countless others? What is that X factor that will push your resume to the top of the heap? Experience is one thing but a major factor is the qualifications you possess.With several project management methods, tools and techniques being introduced in the market for streamlining businesses, a qualification that reflects your knowledge of these methods and tools is what endears you to employers. Because at the end of the day, businesses thrive on these methodologies.A qualification also shows your knowledge, skills, and dedication towards the profession. It suggests that you have more refined experience in the profession, making you an optimal choice for recruiters.What is PRINCE2®? What qualifications does it provide?PRINCE2® is a structured project management methodology, recognized as the common standard for project management across the world. Its an acronym for - ( Projects IN Controlled Environment ). It is a flexible and user-friendly project management methodology that eases out the process of selecting optimal resources and minimizes the risks involved while handling a project. Its versatility makes it easier to apply in various projects from different sectors, such as engineering, construction, IT, business and even finance. While it was initially designed for IT projects, its scope has now expanded to other sectors.PRINCE2® facilitates three qualifications, these qualifications are:PRINCE2® FoundationPRINCE2® PractitionerPRINCE2® AgileBoth the PRINCE2® Foundation and PRINCE2® Practitioner are process-driven approaches that generally emphasize on fragmenting projects into manageable and controllable stages and portions. This fragmentation of the project does not depend on the type or size of the project.PRINCE2® Agile focuses on teaching the fundamentals and the purpose of combining PRINCE2® with the agile methodology which is another form of project management.Benefits of PRINCE2®Acquiring a qualification is a tedious and costly process, and you must ensure that the qualification you are investing in is beneficial and caters to your needs. The qualification you hope to achieve should also be relevant to the demands of current times. An individual spends a great sum of money and time on qualifications, that include tuition, resource materials, questionnaires, and examinations, thus a qualification is not a joke and requires serious research and investment. Hence, you must be aware of the benefits offered by the PRINCE2® methodology before deciding upon pursuing it. Here are some benefits offered by PRINCE2®:It is very flexible and versatile and can be applied in various kinds of projects irrespective of their sizes.It is the most used and identified project management methodology across the globe.It offers segregation of projects and efficiently fragments the work thus further improving the process by simplifying it.PRINCE2® is known for providing customer satisfaction, as the practitioners are well-versed and skillful because of the training provided during the course and they are also kept informed and up-to-date regarding the improvements and progress made in their respective fields.The benefits mentioned above shows that the PRINCE2® methodology provides the best project management techniques that are globally recognized. Hence, PRINCE2® has become a prominent certification recruiters look for while hiring a professional for managing a project.The PRINCE2® Certification or Qualification ExplainedSo, you have finally decided that the PRINCE2® methodology is great and it could be really useful to you. You have decided to expand your field of expertise and want to pave the way for several lucrative job opportunities by opting for the PRINCE2® qualifications. But there are certain prerequisites that are required before taking up this qualification.As mentioned above PRINCE2® Certification is offered in three different levels:PRINCE2® FoundationPRINCE2® PractitionerPRINCE2® Agile/ProfessionalThree Levels of PRINCE2® Qualification or CertificationPRINCE2® FoundationIt is the basic level of certification. It is the first of the two PRINCE2® qualifications that are required to successfully become a Registered PRINCE2® Practitioner. The PRINCE2® Foundation certification or qualification is designed to teach you the must-know PRINCE2® principles, themes and terminology/jargon. It is developed in a way to make sure that once qualified you will be able to act as a well-informed member of a project management team that is operating within an environment based on the foundation of the PRINCE2® methodology. PRINCE2® Foundation is a training program that can be studied on its own or as a prerequisite for the upcoming PRINCE2® Practitioner course.SYLLABUSThis qualification aims at developing the candidate as a well-informed member of the project management team in a PRINCE2® environment. To obtain this goal, the candidate should be able to understand the principles and terminology of this methodology. Especially, the candidate must be capable of:Describing the purpose and major content of all the roles, the seven principles, the seven themes and finally the seven processes.Stating which management products would be an input to, output from the seven processes.Explaining the major purpose, and the key contents of the major management products.Describing the relationships between processes, deliverables, roles and the management dimensions associated with a project.  WHO SHOULD ATTEND THIS QUALIFICATION?This qualification is suitable for both new and experienced project staffIt is also good for Consultants / Contract staff that is operating under a PRINCE2® environment.Project ManagersProgramme ManagersSupport Staff and Team Managers associated with PRINCE2® based projectsFor staff that will have a defined role within a project team responsible for operating under a PRINCE2® environment.REQUIREMENTSThe candidate should have some understanding of Project Management, other than that there is no such formal pre-requisite for the Foundation Certification or Qualification.EXAMINATION FORMATThe exam will be held for an hourThere will be 60 questionsIt will be a closed book examinationYou would have to correctly answer 33 out of 60 questions to pass (55% is the passing score)PRINCE2® PractitionerIt is the second of the two PRINCE2® examinations you are required to clear to become a registered PRINCE2® Practitioner. The PRINCE2® Practitioner qualification aims at teaching you the basics of applying the PRINCE2® for running and managing a project within the environment supporting PRINCE2®. After the successful completion of this qualification, you will be able to apply and tune PRINCE2® for undertaking the requirements and problems of a specific project scenario. You will gain a comprehensive understanding of the relationship between the PRINCE2® principles, themes,  processes, and the PRINCE2® products and will understand these elements in great detail.SYLLABUSThe curriculum designed for the PRINCE2® Practitioner enables the candidate to:Produce in-depth explanations of all the principles, themes, processes and the worked examples of all PRINCE2® products as it is possible to apply them to address the specific circumstances of a given project scenario.Present their understanding of the relationships between principles, themes, processes, and the PRINCE2® products and must be able to apply this understanding.Demonstrate their expertise of the reasons behind the principles, themes, and processes of PRINCE2®, and are also that they understand the principles underpinning these elements of PRINCE2®.Showcase their ability to tune PRINCE2® according to different project circumstances.WHO SHOULD ATTEND THIS QUALIFICATION?This qualification is suitable for:Project ManagersGeneral ManagersProgramme ManagersTeam Managers and the Support StaffStaff that have a defined role in a projectProject Management ConsultantsREQUIREMENTSYou would be required to possess one of the following qualifications before appearing for the PRINCE2® Practitioner exam:PRINCE2® FoundationProject 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)EXAMINATION FORMATThe examination will be for a duration of 150 minutesThe exam will contain 68 questionsYou would be required to correctly answer 38 out of 68 questions (55 % is the passing score)Open book. Only the official printed hard copy of the Managing Successful Projects with PRINCE2®2017 Edition is allowed.PRINCE2® AgileThe PRINCE2® Agile qualification consists of Foundation and Practitioner levels. PRINCE2® Agile primarily focuses on teaching you the fundamentals and the purpose of merging PRINCE2® with the Agile methodology. It provides extensibility along with the capability of working together with the corporate management processes.PRINCE2® Agile FoundationSimilar to the PRINCE2® Foundation, this Agile Foundation course and certification can be taken by anyone without any prior qualification. This qualification course introduces PRINCE2® governance and offers a wide range of Agile concepts and techniques. Once you are qualified, you would be able to act as a well-informed member of an Agile project team and understand how the PRINCE2® operates with Agile concepts.PRINCE2® Agile PractitionerThis qualification is focused on teaching the certified Project Managers the method of mixing the structure, governance and control of PRINCE2® with the Agile methodology, techniques and approaches. Additionally, it has the same prerequisites as the PRINCE2® Practitioner, so for appearing in the exam you must possess the following qualifications:PRINCE2® FoundationProject 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)Who manages the PRINCE2® Certification or Qualification?All the major certifications and qualifications are managed by a sponsor, that develops, manages and operates qualifications. PRINCE2® also has a sponsor. It is owned and managed by AXELOS - AXELOS is a joint venture that was set up in 2014 by the government of the United Kingdom and Capita, it is responsible for developing, managing and operating qualifications in best practices, using the methodologies formerly owned by the Office of Government Commerce (OGC). It is Axelos that supervises the entire process of the PRINCE2® Certification or Qualification.Importance of PRINCE2® Certification or QualificationThe PRINCE2® ensures that the candidate has the following capabilities:The PRINCE2® Certification or Qualification primarily aims at ensuring that a candidate has sufficient knowledge and expertise of the PRINCE2® methodology so that the candidate can effectively work with, or as a member of a project management team that is working within an environment that supports PRINCE2®.The PRINCE2® Professional Certification or Qualification is also aimed to test the candidate's capability of managing a non-complex PRINCE2® project across all aspects of the entirety of the project.  The PRINCE2® re-registration?Like every other certification or qualification, PRINCE2® qualification is also required to be renewed after a certain period of time. Henceforth, any PRINCE2® Practitioner would be required to register within a time period of three to five calendar years based on the original certification. This re-registration includes an hour-long test that the candidate must pass to retain the certification or qualification. The examination is based on similar standards as the original Practitioner examination.
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PRINCE2® Qualifications (Levels Explained)

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PRINCE2® Qualifications (Levels Explained)

Competition brings out the best in us; we strive to become the best and outperform our peers and fellow colleagues and prove that we are better than them. This drive and need to excel is a good trait to have, especially in this competitive corporate world where standards keep getting higher and quality and excellence are rewarded. So what is it that will distinguish you from the countless others? What is that X factor that will push your resume to the top of the heap? Experience is one thing but a major factor is the qualifications you possess.

With several project management methods, tools and techniques being introduced in the market for streamlining businesses, a qualification that reflects your knowledge of these methods and tools is what endears you to employers. Because at the end of the day, businesses thrive on these methodologies.

A qualification also shows your knowledge, skills, and dedication towards the profession. It suggests that you have more refined experience in the profession, making you an optimal choice for recruiters.

What is PRINCE2®? What qualifications does it provide?

PRINCE2® is a structured project management methodology, recognized as the common standard for project management across the world. Its an acronym for - ( Projects IN Controlled Environment ). It is a flexible and user-friendly project management methodology that eases out the process of selecting optimal resources and minimizes the risks involved while handling a project. Its versatility makes it easier to apply in various projects from different sectors, such as engineering, construction, IT, business and even finance. While it was initially designed for IT projects, its scope has now expanded to other sectors.

PRINCE2® facilitates three qualifications, these qualifications are:

  • PRINCE2® Foundation
  • PRINCE2® Practitioner
  • PRINCE2® Agile

Both the PRINCE2® Foundation and PRINCE2® Practitioner are process-driven approaches that generally emphasize on fragmenting projects into manageable and controllable stages and portions. This fragmentation of the project does not depend on the type or size of the project.

PRINCE2® Agile focuses on teaching the fundamentals and the purpose of combining PRINCE2® with the agile methodology which is another form of project management.

Benefits of PRINCE2®Benefits of PRINCE2

Acquiring a qualification is a tedious and costly process, and you must ensure that the qualification you are investing in is beneficial and caters to your needs. The qualification you hope to achieve should also be relevant to the demands of current times. An individual spends a great sum of money and time on qualifications, that include tuition, resource materials, questionnaires, and examinations, thus a qualification is not a joke and requires serious research and investment. Hence, you must be aware of the benefits offered by the PRINCE2® methodology before deciding upon pursuing it. Here are some benefits offered by PRINCE2®:

  • It is very flexible and versatile and can be applied in various kinds of projects irrespective of their sizes.
  • It is the most used and identified project management methodology across the globe.
  • It offers segregation of projects and efficiently fragments the work thus further improving the process by simplifying it.
  • PRINCE2® is known for providing customer satisfaction, as the practitioners are well-versed and skillful because of the training provided during the course and they are also kept informed and up-to-date regarding the improvements and progress made in their respective fields.

The benefits mentioned above shows that the PRINCE2® methodology provides the best project management techniques that are globally recognized. Hence, PRINCE2® has become a prominent certification recruiters look for while hiring a professional for managing a project.

The PRINCE2® Certification or Qualification Explained

So, you have finally decided that the PRINCE2® methodology is great and it could be really useful to you. You have decided to expand your field of expertise and want to pave the way for several lucrative job opportunities by opting for the PRINCE2® qualifications. But there are certain prerequisites that are required before taking up this qualification.

As mentioned above PRINCE2® Certification is offered in three different levels:

Three Levels of PRINCE2® Qualification or Certification

Three Levels of PRINCE2® Qualification or Certification

PRINCE2® Foundation

It is the basic level of certification. It is the first of the two PRINCE2® qualifications that are required to successfully become a Registered PRINCE2® Practitioner. The PRINCE2® Foundation certification or qualification is designed to teach you the must-know PRINCE2® principles, themes and terminology/jargon. It is developed in a way to make sure that once qualified you will be able to act as a well-informed member of a project management team that is operating within an environment based on the foundation of the PRINCE2® methodology. PRINCE2® Foundation is a training program that can be studied on its own or as a prerequisite for the upcoming PRINCE2® Practitioner course.

SYLLABUS

This qualification aims at developing the candidate as a well-informed member of the project management team in a PRINCE2® environment. To obtain this goal, the candidate should be able to understand the principles and terminology of this methodology. Especially, the candidate must be capable of:

  • Describing the purpose and major content of all the roles, the seven principles, the seven themes and finally the seven processes.
  • Stating which management products would be an input to, output from the seven processes.
  • Explaining the major purpose, and the key contents of the major management products.
  • Describing the relationships between processes, deliverables, roles and the management dimensions associated with a project.  

WHO SHOULD ATTEND THIS QUALIFICATION?

  • This qualification is suitable for both new and experienced project staff
  • It is also good for Consultants / Contract staff that is operating under a PRINCE2® environment.
  • Project Managers
  • Programme Managers
  • Support Staff and Team Managers associated with PRINCE2® based projects
  • For staff that will have a defined role within a project team responsible for operating under a PRINCE2® environment.

REQUIREMENTS

The candidate should have some understanding of Project Management, other than that there is no such formal pre-requisite for the Foundation Certification or Qualification.

EXAMINATION FORMAT

  • The exam will be held for an hour
  • There will be 60 questions
  • It will be a closed book examination
  • You would have to correctly answer 33 out of 60 questions to pass (55% is the passing score)

PRINCE2® Practitioner

It is the second of the two PRINCE2® examinations you are required to clear to become a registered PRINCE2® Practitioner. The PRINCE2® Practitioner qualification aims at teaching you the basics of applying the PRINCE2® for running and managing a project within the environment supporting PRINCE2®. After the successful completion of this qualification, you will be able to apply and tune PRINCE2® for undertaking the requirements and problems of a specific project scenario. You will gain a comprehensive understanding of the relationship between the PRINCE2® principles, themes,  processes, and the PRINCE2® products and will understand these elements in great detail.

SYLLABUS

The curriculum designed for the PRINCE2® Practitioner enables the candidate to:

  • Produce in-depth explanations of all the principles, themes, processes and the worked examples of all PRINCE2® products as it is possible to apply them to address the specific circumstances of a given project scenario.
  • Present their understanding of the relationships between principles, themes, processes, and the PRINCE2® products and must be able to apply this understanding.
  • Demonstrate their expertise of the reasons behind the principles, themes, and processes of PRINCE2®, and are also that they understand the principles underpinning these elements of PRINCE2®.
  • Showcase their ability to tune PRINCE2® according to different project circumstances.

WHO SHOULD ATTEND THIS QUALIFICATION?

This qualification is suitable for:

  • Project Managers
  • General Managers
  • Programme Managers
  • Team Managers and the Support Staff
  • Staff that have a defined role in a project
  • Project Management Consultants

REQUIREMENTS

You would be required to possess one of the following qualifications before appearing for the PRINCE2® Practitioner exam:

  • 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)

EXAMINATION FORMAT

  • The examination will be for a duration of 150 minutes
  • The exam will contain 68 questions
  • You would be required to correctly answer 38 out of 68 questions (55 % is the passing score)
  • Open book. Only the official printed hard copy of the Managing Successful Projects with PRINCE2®2017 Edition is allowed.

PRINCE2® Agile

The PRINCE2® Agile qualification consists of Foundation and Practitioner levels. PRINCE2® Agile primarily focuses on teaching you the fundamentals and the purpose of merging PRINCE2® with the Agile methodology. It provides extensibility along with the capability of working together with the corporate management processes.

PRINCE2® Agile Foundation

Similar to the PRINCE2® Foundation, this Agile Foundation course and certification can be taken by anyone without any prior qualification. This qualification course introduces PRINCE2® governance and offers a wide range of Agile concepts and techniques. Once you are qualified, you would be able to act as a well-informed member of an Agile project team and understand how the PRINCE2® operates with Agile concepts.

PRINCE2® Agile Practitioner

This qualification is focused on teaching the certified Project Managers the method of mixing the structure, governance and control of PRINCE2® with the Agile methodology, techniques and approaches. Additionally, it has the same prerequisites as the PRINCE2® Practitioner, so for appearing in the exam you must possess the following qualifications:

  • 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)

Who manages the PRINCE2® Certification or Qualification?

All the major certifications and qualifications are managed by a sponsor, that develops, manages and operates qualifications. PRINCE2® also has a sponsor. It is owned and managed by AXELOS - AXELOS is a joint venture that was set up in 2014 by the government of the United Kingdom and Capita, it is responsible for developing, managing and operating qualifications in best practices, using the methodologies formerly owned by the Office of Government Commerce (OGC). It is Axelos that supervises the entire process of the PRINCE2® Certification or Qualification.

Importance of PRINCE2® Certification or Qualification

The PRINCE2® ensures that the candidate has the following capabilities:

  • The PRINCE2® Certification or Qualification primarily aims at ensuring that a candidate has sufficient knowledge and expertise of the PRINCE2® methodology so that the candidate can effectively work with, or as a member of a project management team that is working within an environment that supports PRINCE2®.
  • The PRINCE2® Professional Certification or Qualification is also aimed to test the candidate's capability of managing a non-complex PRINCE2® project across all aspects of the entirety of the project.  

The PRINCE2® re-registration?

Like every other certification or qualification, PRINCE2® qualification is also required to be renewed after a certain period of time. Henceforth, any PRINCE2® Practitioner would be required to register within a time period of three to five calendar years based on the original certification. This re-registration includes an hour-long test that the candidate must pass to retain the certification or qualification. The examination is based on similar standards as the original Practitioner examination.

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1. Introduction to Professional Scrum MasterWho is... Read More

5 Steps to Better Project Tracking

You can plan your projects exceptionally well, but things may not always happen as planned and that can cause your projects to derail. This is where project tracking and monitoring proves invaluable in overall project management. Time tracking in Project Management provides the project team and stakeholders an understanding about the project health and highlights the areas of concern on the project. If you follow these steps on how to track your project, then you'll be able to think proactively and deal with any issue before it becomes a problem.                                                       Fig: Process Flow Of Better Project Tracking 1. Prioritize It is very important to plan and prioritize the work effectively in order to make the most of your time and effort. According to Pareto Principle, 80% of the effect of your work will come from 20% of the work you do. As a Project Manager, you need to be smart with your time and focus on important things. You can’t track everything; there simply aren’t enough hours in a day; so decide what element of your project is most important and critical. Project scope, milestones, budget and resources are the most important components that a PM should focus on while tracking the project. These demand a close scrutiny, since they help you determine the performance of the project. It’s very crucial to keep tabs on your upcoming milestones and monitor them since these are the deliverables which your project stakeholders will keep asking you about. Then there’s budget, of course for you to ensure that you aren’t spending more than what’s initially allocated. And scope to avoid any scope creep and manage changes effectively. 2. Set measurable targets Now that you have prioritized, what do you expect your project performance should be? Performance measurement starts with setting targets or goals and assigning KPIs (Key Performance Indicators) which are measurable. While setting KPIs for each target, it is also essential to anticipate how the achievement of the target will be tracked. The foundation of project tracking is comparing what you planned to how you executed that plan. A baseline turns out to be useful to check the actual versus estimated progress throughout the project. Create a performance measurement baseline (combination of scope, time, and cost baseline) with realistic targets, which will represent a standard to measure project performance. Changes in any project are inevitable and can drastically impact a project; hence controlling the baseline is very crucial for project success. 3. Report to stakeholders: Your success as a PM can be determined a lot on the way you deliver your reports. They need to clearly and concisely answer the questions that stakeholders have about the project.The project stakeholders need to know what is working and what is taking the project off-track.The PM should ensure to conduct team meetings on a regular basis. Regular tracking and monitoring enables to identify potential problems as early as possible so that timely adjustments to project plans can be made before moving forward. For instance, if it looks like the upcoming milestone may be missed;the stakeholders must be immediately alerted.   4. Use dashboards: The key to any successful project is efficient communication. But communicating with sponsors, stakeholders, team members and other project related parties can take up quite a lot of a Project Manager’s time. A dashboard always comes handy when it comes to expressing a project’s status in a crisp yet effective manner.A Project Management Dashboard often provides at-a-glance view of project performance KPIs in a format that conveys project’s overall progress and highlight particular problems that require further attention. They can be customized to give you the information you need, when you need it, hence saving your time and effort. 5. Recommend actions for improvement and follow-up: This is most important activity in project tracking. As a Project Manager, you should think of and recommend actions that will offer the greatest dividend in terms of keeping the project running smoothly, efficiently, and on-time, after taking feedback from the management. Recommendations could be corrective actions, preventive actions, or changes in the plan or the project execution. Ensure that you provide specific guidance, assign a responsible team member and direct him to perform a specific action by a specific date, and make sure they are slated to report back on the results of their action. Also confirm that the recommendations are being followed, expected outputs are being created and the project as a whole is on track.  
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5 Steps to Better Project Tracking

You can plan your projects exceptionally well, but... Read More

Prince 2: The Road Map To Project Success

PRINCE2 is an acronym for PRojects IN Controlled Environments. It is an effective process-based method for authoritative project management. It is mostly used by the UK Government and also in private sectors, internationally. The PRINCE2 method offers the best practice guidance on project management. PRINCE was established in 1989 by CCTA (the Central Computer and Telecommunications Agency). Since then, it is widely used for Project Management. PRINCE2 principles helps to manage the projects particularly in the business world. Before proceeding further, you should have knowledge about, “What is a Project and what makes a successful project?” A project can be defined as “a management environment that is created for the purpose of delivering one or more business products according to a specified business case”. You can connote the term “Project” in a broader perspective by considering the downside, that is by taking into account the conditions that culminate in the failure of a project.   Given below are some of the factors responsible for the failure of a project- Lack of management support: Results into insufficient finance and resources. Resource problems: Can mean there is a lack of employees in the project Lack of clarity: If the clarity about the roles and responsibilities is missing, a sag in the performance curve is inevitable. Poor communication: The necessary project information, if not routed in the proper direction, may cause confusion among the team members. Lack of leadership – A project can be unsuccessful if team members are not guided properly. This may happen if the project manager himself does not have the required experience or management skills. The Project can be successful if the following are present- Preplanning– For a project to be successful, planning plays a crucial role. The project manager should have a vision of the project outcome. The first step to achieve this is to create and explain the roles and responsibilities to the team members. Strong leadership – The team lead should be skilled enough to spearhead in the best way possible. If the team members get proper guidance, any project can be implemented successfully. Project completion time – The key to the success and reputation of a project hinges on how well the timeline has been managed. Completing the project within or before the stipulated time not only impresses the Client, but also proves to be a measure of the potential of the project members. For successful and smoothly operated projects, PROMPT II, PRINCE, and subsequently PRINCE2 were all introduced to operate with the common reasons for project failure. PRINCE2 (PRojects IN Controlled Environments) is considered as a calibrated International product. It is the standard method for managing the projects and providing a flexible and accommodating approach to suit all the projects. There are some keys to project success while using Prince2, which enhances the quality of the project. Reducing Waste: Reducing waste saves both money and time. However, it is difficult to predict and pinpoint the sources of waste. Prince2 helps eliminate waste through the following two techniques- Project Assurance : Project Assurance is essential for a PRINCE2 project. It is a kind of survey which gives accurate information to the project board. Organizations are getting smarter due to “assurance audit”. This does not need a separate role, since the ‘financial merger’ does the ‘financial audit’ for you. Tailoring –:With PRINCE2, you can tailor the projects to make them small, yet effective.     1. Improving Strategy for Business Arrangement: To make the project run and sync towards the business goal, make sure your project is equipped with: Continued business justification – ‘A project should be run only if it is aligned with the organizational goal’, is the fundamental principle of Prince2. If you plan a strategy and resources for the project, your project will be effective. Business Case – The Business Case keeps record of the costs and expected outcome of a project. The non-perishable business cases can create inconsistent project objectives.      2. Sponsor engagement: Communication – It is useful to keep all the stakeholders in loop, including the sponsors.  PRINCE2 calls it stakeholder engagement rather than sponsor engagement. If anyone is interested in the project, they are expected to be updated with the project. Communication Management Strategy – A document that describes communication strategy with the stakeholders, may vary depending on the project size and organisation. You can make groups for communication. For instance, the group for project team meeting can also have communication strategy for individuals which depends on their communication preference. By and large, Prince 2 has proved to be a highly effective method for the success of any project. The team leads should be knowledgeable enough to master the method and upscale their teams accordingly.  
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Prince 2: The Road Map To Project Success

PRINCE2 is an acronym for PRojects IN Controlled E... Read More