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PRINCE2

Project Management

Any person, witness or participant to intelligent management jargon would certainly have come across the concept of PRINCE2 (Projects in Controlled Environments). It is essentially a project management strategy which covers broad areas within the management structure enabling the organization to rise to the challenges of high end risks and top quality standards. PRINCE2 is basically process oriented and has proved to be exceptionally successful in challenging business environments leading to its adoption as the de facto standard by the UK Government and by innumerable industries in the private sector.

PRINCE2 was first published in 1996 by the OGC (Office Of Government Commerce) and is updated at frequent intervals based on current industry demands. The ideologies and principles have been contributed by a conglomerate of about 150 European organizations.

The main focus is to deliver business benefits through attainment of objectives within set time limits through the integration and utilization of available skills, resources, technology etc. Project management is governed by six processes namely Costs, Timescales, Quality, Scope, Risk and Benefits. PRINCE2 undertakes the Planning, Controlling, Delegation and Control of all these six factors, employing innovative themes and processes.

This system employs 4 integrated components namely,

Principles: which are actually 7 in number to test whether a said project is being managed according to PRINCE2 standards.

Themes: that point out those aspects of project management that must be dealt with throughout the project on parallel lines.

Processes: which concentrate on the activities and products together with requisite responsibilities that take a step by step development from the very start to the closure of the project PRINCE2 concept.

Tailored to the core objective of the project: There’s no standard model available that fits into all project management processes so the principle of PRINCE2 has to be fitted to the specific requirements of each project.

Advocates of PRINCE2 maybe qualified in 2 levels, the first one as

PRINCE2 foundation: This enables a comprehension of fundamentals and underlying principles of the system.

PRINCE2 Practitioner: is a superior qualification for those undertaking to incorporate PRINCE2 techniques into management environments.

Over the years it has been proved that PRINCE2 is inevitably the most efficient model for executing project management especially because of its ability to perform well in all situations alongside specialist or industry designed models. The concept advocates a defined structure for communication, accountability, authority etc so that project participants are constantly aware of each other’s roles and needs.  It stresses on managing the process in stages and by exception.  It emphasizes the need to maintain high standards of quality right from the beginning to the final product. It’s a people friendly and tolerant concept in that it even ensures representation by stakeholders and sponsors in vital decision making and planning processes.

A number of institutions, worldwide have gained accreditation to this concept and are qualified to support PRINCE2 projects efficiently. An employee who is proficient in PRINCE2 ideology turns out to be an asset to the organization since his mode of operations will be systematic and efficient and his rate of growth will be quicker. His scope for better positions in the industry will also be more.

Thus incorporating PRINCE2 principles is more than likely to steer any organization towards achievement of goals faster and in a structured manner.

Suggested References:

Books

  •  Managing Successful Projects with PRINCE2
  • Passing your PRINCE2 Examinations
  • An Introduction to PRINCE2: Managing and Directing Successful Projects
  • Directing PRINCE2 Projects with PRINCE2 Manual
  • PRINCE2 Study Pack & Starter Kit – PRINCE2 2005

Youtube Links

To get details about the upcoming trainings of PRICE2 please click the following link

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