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Why should I Study PRINCE2®?

What is PRINCE2®?PRINCE2® or Projects IN Controlled Environments is a process-based methodology for project management. It is used widely by the UK Government and is used and recognized in the private sector, in the UK and internationally. The domain is in the public domain and it provides non-proprietorial practice guidance on project management. It was established by the Central Computer and Telecommunications Agency or CCTA in 1989. It was primarily based on PROMPT, created in 1975 by Simpact Systems Ltd and adopted in 1979 by CCTA as a standard that can be used by Government information system projects.History of PRINCE2®When it was launched in 1989, it superseded PROMPT effectively within the Government projects. PRINCE® is in the public domain and its copyright is with the Crown. PRINCE2® came into existence in 1996 and it has contributed by a consortium of 150 European organizations. Since then, PRINCE2® has gained immense popularity and presently it is a de-facto standard in several UK Government departments for project management and across many United Nations systems too. After it was revised in 2009, this acronym was altered to Projects IN a Controlled Environment. After PRINCE2® was launched in 1996, it went through two major revisions as mentioned below:PRINCE2® 2009’ Refresh in 2009PRINCE2® 2017’ Update in the year 2017PRINCE2® is a project management method used frequently by people and organizations from different industries and sectors. It is flexible, practical, and innovative. Regardless of the project, whether it is constructing a flyover, an advertising campaign, or developing software, PRINCE2® can help you manage all these aspects. It belongs to the public domain and offers the best guidance to manage any project.Key features of PRINCE2®Following are the key features of PRINCE2®:It is a non-proprietary methodology.It offers the most widely used approaches to manage projects.As it is broad, it can be used in all kinds of assignments.This is accomplished via the management properties of project work.It is based on customer/supplier setting. It ensures that there is a client with a desired product/result who can also pay for its development along with a vendor who can offer the necessary resources along with skills.Benefits of PRINCE2®PRINCE2® is a common language used by dealers, consumers, and businesses. Even though it does not comprise of contract management, it provides all the essential boundaries and controls needed for all to work together within any relevant contract. More importantly, it allows your business to concentrate on the right projects, for the right people and at the right time; by creating the beginning of a project and its end depending on the continued existence of a business case. Certified PRINCE2® Training shall improve your skills as a Project Manager. Some of its top benefits are as follows:It is applicable to all projects.It recognizes project accountability.Its product clarifies what can a task provideIts plans are designed sensibly to meet the needs of various levels in an administrative team.It is grounded in ‘management by exception’ framework that ensures economic and efficient use of project management time.It makes sure that its takers concentrate on its ability based on its business objectives.It describes a cost-effective and precise report structure.It ensures that the shareholders are characterized adequately in decision-making and development.It ensures learning and constant improvement in organizations.It enhances steadiness in project work and its ability to reprocess assets.It simplifies the valuation and assurance of project work.Effective project management is a challenge in several organizations all across the globe. With proper training and certification in PRINCE2®, you can guarantee the smooth functioning of your projects that meet your business goals and objectives.Top reasons to study PRINCE2®PRINCE2®, Foundation and Practitioner Certifications are considered among the most popular Project Management Certifications all over the world. There are several reasons to do PRINCE2® certification. Some of the top reasons to do this course are as follows:Build and improve Project management SkillsThe main reason that gives the most obvious advantage: much-improved Project Management skills. With PRINCE2®, you will learn to deploy projects better with more efficient Management skills. You shall learn the terminology, methodology, common systems, framework, and process used by a wide number of project managers and know the skills required to successfully initiate, plan, manage, monitor, and execute projects.It is more of a methodologyUnlike other certifications on Project Management, PRINCE2® puts a wider emphasis on Project Management principles compared to its instruction book along with rigid rules. As a reference guide, it says about the stages and processes of a project along with responsibilities and roles associated with it. It may not mention directly the way to manage the subsequent job in the project, but can make you understand the processes and principles of a project vividly and also the manner to manage them. You will be able to tailor your PRINCE2® projects according to your requirements and oversee the projects that you manage closely.You can start smoothlyWhen you choose a certification, the time to prepare/study, costs involved and disruption that it imposes into your professional life is highly important. It provides a unique advantage, which you may begin by preparing for its Foundation exam. It means that you will be able to do an actual Project Management Foundation certification course without spending much time in training or spending lump sum training costs. While doing this certification course, you shall get a complete overview of what you can expect if you were to continue with PRINCE2® Practitioner Certification. This makes the beginning phase of a Project management certification prospect much easier.You shall receive the certificate soonerOnce you have finished the training, you just have to take an examination along with a training provider or take the public exam. There is no complicated registration process and no time-consuming matter audit process. The certificate gets delivered within a few days after clearing the exam.The certification possesses global recognitionThis certification is recognized globally. It was developed in the public IT sector under the UK government’s supervision. PRINCE2® is a de facto Project Management in several parts of the world. Private and public sector companies and governments all across the globe are using it and its popularity is growing all over the world including Asia, USA, and Africa. AXELOS Ltd is the owner of PRINCE2® certification to manage US Federal Government Projects to support the demand of US organizations. This certification allows you the opportunity to undertake project work on an international level.PRINCE2® certification enhances employment prospectsA PRINCE2® qualification is great for your employment opportunities. It is a world-class product and it is considered a standard methodology for project management. This is the reason why so many companies all over the world look for staff having PRINCE2® certification. According to the AXELOS PRINCE2® survey in 2016, most of the respondents, especially in the Netherlands and Germany consider PRINCE2® highly valuable to their career.You are not restricted to a single industryPRINCE2® is a Project Management and thus it is not limited to any particular organization or industry. You may use it in any kind of industry or organization, or projects of any scale. This will expand your project work areas immensely. You will be able to apply for a job in different industries.Proof of CertificationYou can easily show your proof of certification. PRINCE2® certification holders are entered in official PRINCE2® successful candidate list. You can check this register online. So, when you apply for a job, you do not have to send copies and documents of PRINCE2® certificates. The online register shall confirm that you have completed the examination successfully and shall mention the date too. It can be searched by putting the candidate’s name and number. If an employer or a potential employer desires to check PRINCE2® qualification, you just have to provide him your link and number. This gives you manifold chances of employabilityYou can easily get other certificationsPRINCE2® is a separate project management certification but enjoys global recognition. When you receive this certification, you may get exemptions from appearing in examinations in certain subjects when you study other certifications related to project management.Studying online or in classroomA question that may come to your mind that whether to study this certification course in the classroom or online mode will be suitable? One major consideration is the price of the online course. The cost to gain this certification through classroom training has reduced significantly over the previous few years. To make the classroom training process flexible and accessible, PRINCE2® experts with certification are given approval to coach a certain number of trainees every year.  Nowadays, there are hundreds of certified PRINCE2® practitioners who have passed the exams successfully and are providing classroom facilities.Online PRINCE2® course was once considered to be of lower quality as well as a cheaper study option; however, things have changed in a significant manner with the latest technological developments. Interactive multimedia and high-quality courses are available online that are designed to make your study with fun, engaging, and highly effective. Obvious benefits of studying online are being able to study anytime and from anywhere at your personal pace. Carefully developed online courses are segregated into smaller parts to help memory retention so that you will be able to rewind and go through study material as many times you want which is never possible in classroom mode. You can control the pace you want to learn and study and it shall help you to absorb the course content.With online training, you will not have to worry about your tutor’s presence or the pace at which he/she completes the lessons. Online courses go through quality editing and control measures and therefore they maintain great standards. Highly effective simulators completely prepare you for your examination with confidence. If you require any help, you can contact experienced tutors via email or phone.Employers look for employees who can implement PRINCE2® Project Management with skill and confidence. Classroom training is intensive and online training may help long-term memory retention. The online course is of high quality and costs lower than PRINCE2® classroom coaching. With studying at your own speed and your time, you will be confident when to take the exam and get certified.Why implement PRINCE2® in your company?PRINCE2® is Project Management of International Standard and it is recognized as an international product. Mainly it encompasses several years of best practice of project management and offers an adaptable and flexible approach related to all projects. Some of the reasons to implement it in your organization include the following:A consistent and common approachAn organized and controlled beginning, middle, and end.Constant progress reviews against the plan and also against the business.Assurance that a project shall have a business justification.Flexible decision points.Involvement of stakeholders and management at the right place and right time during the project.Good communication links between the project management, the project, and the remaining organization.A means to share and capture lessons learned.A route to enhance project management skills and the organization’s staff competencies at all levels.According to a survey, it was found that high-performance projects demand PRINCE2® certified project managers. This is indeed advantageous to the directors and managers of a project as well as the organization. as the resources will be used judiciously and business decisions made more effective. Hence, PRINCE2® has become a widely understood and recognized common language to all the project participants.
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Why should I Study PRINCE2®?

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Why should I Study PRINCE2®?

What is PRINCE2®?

PRINCE2® or Projects IN Controlled Environments is a process-based methodology for project management. It is used widely by the UK Government and is used and recognized in the private sector, in the UK and internationally. The domain is in the public domain and it provides non-proprietorial practice guidance on project management. It was established by the Central Computer and Telecommunications Agency or CCTA in 1989. It was primarily based on PROMPT, created in 1975 by Simpact Systems Ltd and adopted in 1979 by CCTA as a standard that can be used by Government information system projects.

History of PRINCE2®

History of PRINCE2®

When it was launched in 1989, it superseded PROMPT effectively within the Government projects. PRINCE® is in the public domain and its copyright is with the Crown. PRINCE2® came into existence in 1996 and it has contributed by a consortium of 150 European organizations. Since then, PRINCE2® has gained immense popularity and presently it is a de-facto standard in several UK Government departments for project management and across many United Nations systems too. After it was revised in 2009, this acronym was altered to Projects IN a Controlled Environment. After PRINCE2® was launched in 1996, it went through two major revisions as mentioned below:

  • PRINCE2® 2009’ Refresh in 2009
  • PRINCE2® 2017’ Update in the year 2017

PRINCE2® is a project management method used frequently by people and organizations from different industries and sectors. It is flexible, practical, and innovative. Regardless of the project, whether it is constructing a flyover, an advertising campaign, or developing software, PRINCE2® can help you manage all these aspects. It belongs to the public domain and offers the best guidance to manage any project.

Key features of PRINCE2®

Following are the key features of PRINCE2®:

  • It is a non-proprietary methodology.
  • It offers the most widely used approaches to manage projects.
  • As it is broad, it can be used in all kinds of assignments.
  • This is accomplished via the management properties of project work.
  • It is based on customer/supplier setting. It ensures that there is a client with a desired product/result who can also pay for its development along with a vendor who can offer the necessary resources along with skills.

Benefits of PRINCE2®Benefits of PRINCE2®

PRINCE2® is a common language used by dealers, consumers, and businesses. Even though it does not comprise of contract management, it provides all the essential boundaries and controls needed for all to work together within any relevant contract. More importantly, it allows your business to concentrate on the right projects, for the right people and at the right time; by creating the beginning of a project and its end depending on the continued existence of a business case. Certified PRINCE2® Training shall improve your skills as a Project Manager. Some of its top benefits are as follows:

  • It is applicable to all projects.
  • It recognizes project accountability.
  • Its product clarifies what can a task provide
  • Its plans are designed sensibly to meet the needs of various levels in an administrative team.
  • It is grounded in ‘management by exception’ framework that ensures economic and efficient use of project management time.
  • It makes sure that its takers concentrate on its ability based on its business objectives.
  • It describes a cost-effective and precise report structure.
  • It ensures that the shareholders are characterized adequately in decision-making and development.
  • It ensures learning and constant improvement in organizations.
  • It enhances steadiness in project work and its ability to reprocess assets.
  • It simplifies the valuation and assurance of project work.

Effective project management is a challenge in several organizations all across the globe. With proper training and certification in PRINCE2®, you can guarantee the smooth functioning of your projects that meet your business goals and objectives.

Top reasons to study PRINCE2®Reasons to study PRINCE2®

PRINCE2®, Foundation and Practitioner Certifications are considered among the most popular Project Management Certifications all over the world. There are several reasons to do PRINCE2® certification. Some of the top reasons to do this course are as follows:

  • Build and improve Project management Skills

The main reason that gives the most obvious advantage: much-improved Project Management skills. With PRINCE2®, you will learn to deploy projects better with more efficient Management skills. You shall learn the terminology, methodology, common systems, framework, and process used by a wide number of project managers and know the skills required to successfully initiate, plan, manage, monitor, and execute projects.

  • It is more of a methodology

Unlike other certifications on Project Management, PRINCE2® puts a wider emphasis on Project Management principles compared to its instruction book along with rigid rules. As a reference guide, it says about the stages and processes of a project along with responsibilities and roles associated with it. It may not mention directly the way to manage the subsequent job in the project, but can make you understand the processes and principles of a project vividly and also the manner to manage them. You will be able to tailor your PRINCE2® projects according to your requirements and oversee the projects that you manage closely.

  • You can start smoothly

When you choose a certification, the time to prepare/study, costs involved and disruption that it imposes into your professional life is highly important. It provides a unique advantage, which you may begin by preparing for its Foundation exam. It means that you will be able to do an actual Project Management Foundation certification course without spending much time in training or spending lump sum training costs. While doing this certification course, you shall get a complete overview of what you can expect if you were to continue with PRINCE2® Practitioner Certification. This makes the beginning phase of a Project management certification prospect much easier.

  • You shall receive the certificate sooner

Once you have finished the training, you just have to take an examination along with a training provider or take the public exam. There is no complicated registration process and no time-consuming matter audit process. The certificate gets delivered within a few days after clearing the exam.

  • The certification possesses global recognition

This certification is recognized globally. It was developed in the public IT sector under the UK government’s supervision. PRINCE2® is a de facto Project Management in several parts of the world. Private and public sector companies and governments all across the globe are using it and its popularity is growing all over the world including Asia, USA, and Africa. AXELOS Ltd is the owner of PRINCE2® certification to manage US Federal Government Projects to support the demand of US organizations. This certification allows you the opportunity to undertake project work on an international level.

  • PRINCE2® certification enhances employment prospects

A PRINCE2® qualification is great for your employment opportunities. It is a world-class product and it is considered a standard methodology for project management. This is the reason why so many companies all over the world look for staff having PRINCE2® certification. According to the AXELOS PRINCE2® survey in 2016, most of the respondents, especially in the Netherlands and Germany consider PRINCE2® highly valuable to their career.

  • You are not restricted to a single industry

PRINCE2® is a Project Management and thus it is not limited to any particular organization or industry. You may use it in any kind of industry or organization, or projects of any scale. This will expand your project work areas immensely. You will be able to apply for a job in different industries.

  • Proof of Certification

You can easily show your proof of certification. PRINCE2® certification holders are entered in official PRINCE2® successful candidate list. You can check this register online. So, when you apply for a job, you do not have to send copies and documents of PRINCE2® certificates. The online register shall confirm that you have completed the examination successfully and shall mention the date too. It can be searched by putting the candidate’s name and number. If an employer or a potential employer desires to check PRINCE2® qualification, you just have to provide him your link and number. This gives you manifold chances of employability

  • You can easily get other certifications

PRINCE2® is a separate project management certification but enjoys global recognition. When you receive this certification, you may get exemptions from appearing in examinations in certain subjects when you study other certifications related to project management.

Studying online or in classroom

A question that may come to your mind that whether to study this certification course in the classroom or online mode will be suitable? One major consideration is the price of the online course. The cost to gain this certification through classroom training has reduced significantly over the previous few years. To make the classroom training process flexible and accessible, PRINCE2® experts with certification are given approval to coach a certain number of trainees every year.  Nowadays, there are hundreds of certified PRINCE2® practitioners who have passed the exams successfully and are providing classroom facilities.

Online PRINCE2® course was once considered to be of lower quality as well as a cheaper study option; however, things have changed in a significant manner with the latest technological developments. Interactive multimedia and high-quality courses are available online that are designed to make your study with fun, engaging, and highly effective. Obvious benefits of studying online are being able to study anytime and from anywhere at your personal pace. Carefully developed online courses are segregated into smaller parts to help memory retention so that you will be able to rewind and go through study material as many times you want which is never possible in classroom mode. You can control the pace you want to learn and study and it shall help you to absorb the course content.

With online training, you will not have to worry about your tutor’s presence or the pace at which he/she completes the lessons. Online courses go through quality editing and control measures and therefore they maintain great standards. Highly effective simulators completely prepare you for your examination with confidence. If you require any help, you can contact experienced tutors via email or phone.

Employers look for employees who can implement PRINCE2® Project Management with skill and confidence. Classroom training is intensive and online training may help long-term memory retention. The online course is of high quality and costs lower than PRINCE2® classroom coaching. With studying at your own speed and your time, you will be confident when to take the exam and get certified.

Why implement PRINCE2® in your company?

Why implement PRINCE2® in company

PRINCE2® is Project Management of International Standard and it is recognized as an international product. Mainly it encompasses several years of best practice of project management and offers an adaptable and flexible approach related to all projects. Some of the reasons to implement it in your organization include the following:

  • A consistent and common approach
  • An organized and controlled beginning, middle, and end.
  • Constant progress reviews against the plan and also against the business.
  • Assurance that a project shall have a business justification.
  • Flexible decision points.
  • Involvement of stakeholders and management at the right place and right time during the project.
  • Good communication links between the project management, the project, and the remaining organization.
  • A means to share and capture lessons learned.
  • A route to enhance project management skills and the organization’s staff competencies at all levels.

According to a survey, it was found that high-performance projects demand PRINCE2® certified project managers. This is indeed advantageous to the directors and managers of a project as well as the organization. as the resources will be used judiciously and business decisions made more effective. Hence, PRINCE2® has become a widely understood and recognized common language to all the project participants.

KnowledgeHut

KnowledgeHut

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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.


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Ronan 21 Jun 2019

I enjoy what you guys are usually up too. This sort of clever work and reporting! Keep up the good works.

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Everything you need to know about PSM certification

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However, here are the basics:Coaching the organization, especially the Scrum Team, to get an Agile mindsetIncreasing the quality of deliverables and reducing time to deliverHelping the Dev Team to become self-organized and self-empoweredBuilding culture of trust, transparency, feedback and “fast failure to learn fast”\Advocating in favor of the more appropriated framework to make the Dev Team performant – it can be something else than Scrum!Ensuring that this framework is properly implemented to fit with the Scrum Team needsRemoving any impediment and blocker that prevent the Scrum Team to perform Requirements to become a PSMOfficially, there is no specific requirement: everyone is a potential candidate to become a Professional Scrum Master (PSM).Why become a PSM and what do I need to become a PSMDo you live and breathe Agile? Ok, that sounds too much.Nevertheless, have in mind that learning theory and training to open assessments is one sufficient thing to get certified but acting as a good Scrum Master requires a true behavior and belief in Agile philosophy coupled with large experience, ideally in organizations that have succeeded in their transformation.Like other jobs at “vocation”, you feel a true desire to become Scrum Master when working or at least meeting with one of them. When you meet a great Scrum Master, at some point you could become aware that you do want to do the same job: because you help people working better, feeling better at work, you participate to a radical transformation in the workplace for a better organization.2. What’s the importance of a PSM certificate?Getting a PSM certificate demonstrates the capacity to know, understand and apply Scrum in real-world situations.3. PSM Certification TrainingHow to become a PSM?Although it is highly recommended, taking a training is optional. However, taking the official exam is mandatory to get certified. Scrum.org is the official provider:Syllabus of Professional Scrum MasterA core of knowledge about Scrum remains the Scrum Guide from Ken Schwaber and Jeff Sutherland.Spend time and train seriously on the Scrum Open Assessment: this is the most realistic assessment you can train on!Next very useful resources are available with the Scrum Master Learning Path: this is a set of Professional Scrum Competencies which each contain a number of focus areas.Further reading:Scrum tutorial: An in-depth learning of Scrum, about its origin, evolution, and the progressive development of the framework.Scrum.org recommends strongly these books:Scrum: A Pocket Guide by Gunther VerheyenSoftware in 30 days by Ken SchwaberScrum.org offers also:A very complete glossaryforums populated by threads of quality, written by contributors with solid experience in ScrumA popular blog regularly updated with highly valuable posts, again made by writers shortlisted by Scrum.orgOther Open Assessments might be relevant to gain additional perspective on the other roles of a Scrum Team: check the Scrum Developer Open Assessment and the Product Owner Open Assessment.What is the eligibility to become a PSM trainer?Eligibility to become a PSM trainer requires three conditions. 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On top of that, the Scrum Guide and the Nexus Guide serve as the main background for all Scrum.org assessments. Individuals that are successful at the PSM 1 certification demonstrate a fundamental level of Scrum mastery: they understand Scrum as described in the Scrum Guide and the concepts of applying Scrum. The PSM 1 certification is considered significantly more valuable than other options for Scrum.6. What next after PSM?People who follow Scrum.org courses can claim Project Management Institute (PMI) Professional Development Units credit: 14 PDUs after attending a two-day Professional Scrum Master (PSM). Keep in mind that PMI PDUs are earned for course attendance and not for passing a Scrum.org assessment.7. 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Everything you need to know about PSM certificatio...

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