The name of PRINCE2 is an abbreviation for PRojects IN Controlled Environments 2. This project management methodology is popular because of its process based principles. There are many project management methodologies in the market. Most of them follow a general project management methodology which is assumed to apply for every company in the company regardless of their function or target market. PRINCE2 focuses on the needs of each company and is easier for the company to adopt. Every company has a set of stages it has to complete in order to begin and complete a project. These are launch, plan, execute, monitor, complete. In order to complete these processes an organization employs a project manager, required resources and an efficient team. It is the responsibility of the project manager to assign the different roles to the team members and commence the 5 aforementioned processes. The techniques mentioned in PRINCE2 make it easier for the project manager to identify the right person for the job. The highlight of PRINCE2 is that it provides a set of procedures that are customized as per the requirements of the management. It also gives ample advice to all the project management roles. PRINCE2 also suggests various techniques that can be implemented at various stages of the project like using a Gantt chart to track the progress of the project at various stages. Due to the various advantages offered by the methodology, there are over 6,00,000 certified project managers working with PRINCE2 around the world. Compared to this, there are 4,00,000 certified project managers working with project management professional methods. How does PRINCE2 save time? PRINCE2’s principles are such that everybody understands the processes that are going on in each stage. They have a common approach to the given task which makes it easier for the company to recruit individuals for the project and train them. Since this methodology is process based, there is a solution in the methodology to solve any problem faced by your organization in the various stages of the project. In this way you need not spend time in discovering unique solutions for your project. You can search for the solution in the methodology and implement it using the steps mentioned. PRINCE2 came into existence over 30 years ago and has been implemented in over 1000 projects from around the world. This indicates that the techniques used in PRINCE2 are tried and trusted. Also, the techniques are updated every few years based on the feedback received from the user community. How does PRINCE2 save money? A business case is a document that mentions a particular problem and ways to overcome it in order to gain a commercial success. In the PRINCE2 methodology the business case is referred at every stage of the project. This is mainly to justify the progress of the project based on the business case. If the steps taken by the organization does not justify the business case, it is immediately stopped as those steps will not convert into profit for the company. Few of the highly profitable organisations in the world have the capacity to create a new project management technique to particularly suit the needs of their organization. Such a methodology would cost almost $500,000 to make. Since most companies cannot afford to do this, they opt for PRINCE2 as it is available free of cost to the users and there is no formality of a license involved. This methodology also believes that it is better to deal with the issues in the product in the production stage instead of fixing it once the final product is prepared. In this manner, the company can control the cost of the product and reduce the losses in the end. To ensure this, the product is tested at each stage to ensure that the quality standards are maintained, the customer requirements are thoroughly followed, the risks in future stages are considered etc. All these procedures mentioned in the PRINCE2 methodology ensures that the company can save time and money in various methods. These are the two major components are vital to the company. Hence, PRINCE2 ensures that the company can achieve their targets and create commercially viable products. # What Makes PRINCE 2 So Special? 9K The name of PRINCE2 is an abbreviation for PRojects IN Controlled Environments 2. This project management methodology is popular because of its process based principles. There are many project management methodologies in the market. Most of them follow a general project management methodology which is assumed to apply for every company in the company regardless of their function or target market. PRINCE2 focuses on the needs of each company and is easier for the company to adopt. Every company has a set of stages it has to complete in order to begin and complete a project. These are launch, plan, execute, monitor, complete. In order to complete these processes an organization employs a project manager, required resources and an efficient team. It is the responsibility of the project manager to assign the different roles to the team members and commence the 5 aforementioned processes. The techniques mentioned in PRINCE2 make it easier for the project manager to identify the right person for the job. The highlight of PRINCE2 is that it provides a set of procedures that are customized as per the requirements of the management. It also gives ample advice to all the project management roles. PRINCE2 also suggests various techniques that can be implemented at various stages of the project like using a Gantt chart to track the progress of the project at various stages. Due to the various advantages offered by the methodology, there are over 6,00,000 certified project managers working with PRINCE2 around the world. Compared to this, there are 4,00,000 certified project managers working with project management professional methods. How does PRINCE2 save time? PRINCE2’s principles are such that everybody understands the processes that are going on in each stage. They have a common approach to the given task which makes it easier for the company to recruit individuals for the project and train them. Since this methodology is process based, there is a solution in the methodology to solve any problem faced by your organization in the various stages of the project. In this way you need not spend time in discovering unique solutions for your project. You can search for the solution in the methodology and implement it using the steps mentioned. PRINCE2 came into existence over 30 years ago and has been implemented in over 1000 projects from around the world. This indicates that the techniques used in PRINCE2 are tried and trusted. Also, the techniques are updated every few years based on the feedback received from the user community. How does PRINCE2 save money? A business case is a document that mentions a particular problem and ways to overcome it in order to gain a commercial success. In the PRINCE2 methodology the business case is referred at every stage of the project. This is mainly to justify the progress of the project based on the business case. If the steps taken by the organization does not justify the business case, it is immediately stopped as those steps will not convert into profit for the company. Few of the highly profitable organisations in the world have the capacity to create a new project management technique to particularly suit the needs of their organization. Such a methodology would cost almost$500,000 to make. Since most companies cannot afford to do this, they opt for PRINCE2 as it is available free of cost to the users and there is no formality of a license involved. This methodology also believes that it is better to deal with the issues in the product in the production stage instead of fixing it once the final product is prepared. In this manner, the company can control the cost of the product and reduce the losses in the end. To ensure this, the product is tested at each stage to ensure that the quality standards are maintained, the customer requirements are thoroughly followed, the risks in future stages are considered etc.

All these procedures mentioned in the PRINCE2 methodology ensures that the company can save time and money in various methods. These are the two major components are vital to the company. Hence, PRINCE2 ensures that the company can achieve their targets and create commercially viable products.

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## Achieving Sustainability using Green Product Management

Sustainable development has become today’s buzzword, as an increasing number of manufacturing companies switch to environment-friendly practices for quality product development. Increasing global awareness of environmental degradation has led many countries and organization to sustainability initiatives in every sphere of our society. A global consciousness has been raised to highlight the environmental issues of planet contamination and limited natural resources for consumers to demand eco-friendly products and manufacturing companies to make optimum use of their consumed resources. While product recycling and creation of eco-friendly products are necessary, the key to effective sustainability management involves a complete management of the entire product supply chain of the manufacturing company. This includes the adoption of advanced technology and skills that not only improve productivity, but also reduce internal costs through outsourcing of some company functions. The future of sustainability thus lies in the system of Green Product Management. Introduction to Green Product Management Green Product Management is a complete system that looks at products right from the project planning stage, to its design, development, pilot production, and mass production, right up to the end of the product life. The Green Product Management strategy is aimed at an industry mission to supply products that can fulfil customer needs, while taking advanced steps towards product innovation using technology and developing a sustainable production mechanism. Key Elements So, what are key elements of the Green Product Management that can help to achieve product sustainability? Sustainable design Sustainable (or green) design of a product considers all the factors right from acquisition of the raw materials required for the product, to its final disposal. All these factors can have possible impacts on our environment. Sustainable design (or green product design) needs to be adopted from the early stages of the product designing and development, and must look at objectives, such as reduction of environmentally-harmful substances used in the product, the ease of assembling and disassembling the product, as well as the reduction of consumed energy to manufacture the product. As an example, to check for the eco-friendliness of their products, companies have set plant laboratories to detect the use of any hazardous substance in the supplier’s products or raw materials. Green supply chain management To implement this key element, all components for product assembly and other used materials, during the product manufacturing and maintenance are checked for containing any hazardous materials. A supply chain audit of the manufacturers and its suppliers is conducted to ensure that all the involved parties meet the necessary requirements of sustainable development. Research in collaboration with customers to develop more environment-friendly and halogen-free materials is also aimed to reduce the environment damages. Green manufacturing The aim of this key element is to manufacture products using only those materials and processes that pose the least harmful impact on the environment. Additionally, green manufacturing is aimed at conserving energy used for manufacturing, and to ensure maximum safety for the employees and the society. Additional aspects of green (or sustainable) manufacturing include the adoption of manufacturing technologies and plant design, that can contribute to this objective. Sustainable production and logistics Key factors such as mass production and outsourcing can contribute to this objective. As detailed in the book titled, “Technology Management for Sustainable Production and Logistics,” innovative technologies provide opportunities to make manufacturing and logistics cleaner and more energy efficient. Engineering tools, such as CAx, can quantify the carbon footprint or the energy consumption in any particular manufacturing process. Responsible use and maintenance Customer service must include methods for sustainable maintenance and servicing systems that help when interacting with the customers. Ease of recovery and disassembly Consideration of a green product life cycle extends to the final disposal of the product, including reduction in resource waste and the product recycling costs. Product materials with a higher proportion of recycled materials can be selected. The practices for ease of recovery can include: The use of recycled paper for the product manual. Product packaging using recyclable corrugated paper. Product cartons bearing the recycle system mark. The practices for ease of disassembly can include products: With modular design. With easy disassembling design, meaning products that can be broken down using normal tools such as screwdrivers. With reduced number of fastening bolts. With easy to separate design, particularly true for electronic products. Product disposal This involves the final “6R” analysis for the product end of life, which include: Retire, in which case, the company must have a waste disposal management strategy. Reuse, which will involve the reintegration of product part back into the manufacturing cycle. Remanufacture Reduce and Redesign that involves the learned knowledge, which will help in the next product lifecycle. Renewal, which is the final stage of the Green product management process.
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