The 7 Principles of PRINCE2®

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29th Oct, 2016
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The 7 Principles of PRINCE2®

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® courses cover 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:

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®

Principles of 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®

The number of roles in 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, organizing 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:

  1. The viability of the project is defined and checked by the customer to ensure that the project is important and should continue.
  2. The user ensures that all the needs are being met to complete the project on time.
  3. 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.

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.

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