What is PRINCE2? Everything you Need to Know

PRINCE2 is the world’s most widely used project management methodology. How can a PRINCE2 certification improve your business, and what are the advantages of becoming a PRINCE2 practitioner? Good e-Learning takes a look at everything you need to know about PRINCE2 project management

PRojects IN Controlled Environments 2

When it comes to managing essential business projects, it is important to work according to a solid plan. Managers must understand how best to structure and facilitate the work well before it gets underway, or they will risk unnecessary delays and expenses. At the same time, they must also keep their projects focused, ensuring that any work remains in-line with established business goals and KPIs.

PRINCE2 (PRojects IN Controlled Environments 2) is a world-renowned project management methodology. PRINCE was first established in 1989 by the Central Computer and Telecommunications Agency (CCTA), now known as the Office of Government Commerce (OGC). Originally based on PROMPT, PRINCE soon superseded it in UK government projects. Following its initial success in the UK, PRINCE2 soon spread across the globe, seeing widespread use in both the public and private sectors.

PRINCE2 was released in 1996, having been created by a consortium of 150 different European organizations. This range of expertise and experience resulted in a concise yet flexible approach to managing successful projects. Since then, PRINCE2 has been adapted to suit businesses and organizations across multiple industries. Not only that, but regular updates have ensured that the PRINCE2 project management methodology has stayed relevant even in the constantly changing world of modern enterprise.

What should you expect from the PRINCE2 methodology?

  • A defined lifecycle

  • Defined and measurable business products

  • A corresponding set of activities for successfully creating the business products

  • A specified and well-defined set of resources

  • An organizational structure with defined responsibilities for the management of the project

How Does PRINCE2 Work?

PRINCE2 works by dividing projects into manageable and controlled stages, focusing on the delivery of satisfactory products rather than simply carrying out a set list of activities. This ensures that managers can deliver projects on time and within budget, while still periodically reviewing their progress in order to ensure that the project remains relevant in terms of established business goals.

Each PRINCE2 project will have a ‘Project Board’, usually made up of customer, user, supplier and company representatives. Project managers will report to the Project Board throughout the project, with the Project Board deciding when the project should proceed and when it should be paused so that issues can be addressed.

PRINCE2 projects generally follow eight key processes:

  • Startup - A project manager is appointed, as are the key decision makers. They then work together to define why the project is necessary and outline the processes by which it will be executed

  • Direction - The Project Board is established. Its members will then charge the project manager with organizing the various details of the project

  • Initiation - The project manager prepares the ‘Project Initiation Document’, which is then submitted to the Project Board for approval. It will be revised if necessary

  • Stage control - The project is broken down into distinct manageable stages. Exactly how many will depend on the project’s size and risk level. Each stage will contain plans for the succeeding stage and must be completed before the team can progress

  • Stage boundary management - The current stage is reviewed and the process for the next stage developed. The project can continue once the Project Board approves the execution of the current stage, as well as the plan for the next stage

  • Planning - Decisions will be made based on the products to be produced, the activities required to produce them and what resources will be required. This stage will also involve risk analysis, activity scheduling and process streamlining

  • Product delivery management - The project manager will make sure that the right products are being produced in accordance with the planned schedule

  • Closing - After the project is finished, the project manager will conduct the ‘Post Project Review’ to evaluate its outcome. Once this document has been approved by the Project Board, the project will be closed down

How can a PRINCE2 Certification Help my Business?

PRINCE2 can help your business by enabling you to conduct projects at a higher level, regardless of your company’s size or industry. PRINCE2 processes will help your team managers to recognize responsibilities within a project and what the project is expected to deliver in terms of when, why and for whom. This clarity, combined with greater control over your resources, will result in more well-structured projects that produce far better results.

At the same time, PRINCE2 will also help you to maintain the correct perspective when carrying out your projects. Several reviews will take place to ensure that work is proceeding in line with established business goals, and any errors will be addressed and resolved before work can continue.

Some of the biggest benefits of PRINCE2 include:

  • Flexible decision points

  • Better control and use of resources

  • Regular reviews of progress against project plans and business cases

  • Means for managing risks and issues

  • Early visibility of possible problems

  • Assurance that a project can continue to have business justifications

  • A concise mechanism for managing any deviations from the set project plan

  • Good communication between the project team and other stakeholders

  • A clear process for capturing lessons learned so that they can be incorporated into future projects

Overall, the biggest and most clear advantage of PRINCE2 is that it can enable businesses to save time and money while completing projects far more efficiently.

PRINCE2 Online Training

Why Gain a PRINCE2 Certification with Good e-Learning?

Good e-Learning is an award-winning e-course provider. Our portfolio covers many of the world’s most popular corporate standards and frameworks, including ITIL, TOGAF, Lean and Six Sigma. What makes us unique is our focus on delivering engaging content; rather than endless slides or documents, we spice up our courses with assets like interactive videos, motion graphics, gamified quizzes and more.

To become fully certified in PRINCE2, students must pass both the PRINCE2 Foundation and PRINCE2 Practitioner exams. Good e-Learning provides certification courses for each stage, along with FREE vouchers for when students are ready to sit their exams.

While we work hard to keep students interested, we also realize how difficult it can be for those in full-time jobs to manage their studies. As such, not only do we provide course access for several months, but we also make our courses accessible even on mobile devices, ensuring students can stagger their training and access materials whenever they have the time.

Key features of our PRINCE2 certification courses:

  • Accredited by PeopleCert

  • FREE exam vouchers included

  • Quizzes and revision modules

  • Instant 6 months access

  • Practice exams

  • 24/7 Tutor support

Best of all, our courses can be accessed via multiple devices. Whether you are traveling, killing time or just sat at your desk, you can continue your studies whenever it is convenient for you.

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