As a project management methodology, PRINCE2 is one of the most commonly used around the world. It ensures that time is spent on planning the project, and that goals are clearly understood and risks assessed.
The business case for a PRINCE2 project should be sound, with the customer able to ensure that the project’s benefits outweigh its risks – and where (or when) they don’t, then appropriate actions can be taken to bring the risk/reward equation back into line.
PRINCE 2 provides a recognised approach to project management that is widely used by government bodies, public organisations, and public and private companies. This approach encompasses three integrated elements: 7 Principles; 7 Themes; 7 Processes; 7 Roles.
Kicking off the thread of ‘7’ in PRINCE2, here are 7 advantages of using PRINCE2 methodology to manage your project, whatever its scope, size, and type.
- The project’s business case sets out the reasons why the project is initiated. There is neither ambiguity nor misconception of expected outcomes, and this helps to ensure project performance.
- The PRINCE2 approach provides a project-by-stage methodology, guiding the project manager and project teams from inception to delivery in a controlled process and with a defined lifecycle. This makes large projects easy to manage, ensuring quality of services and timely delivery.
- The stage methodology allows the project board to assess progress regularly, and revise subsequent stages with greater flexibility, reacting not only to project progress but also to external influences. In this way, the project’s progress is measured, and the business case and risks can be addressed and managed.
- The business justification is reassessed continually throughout the project lifecycle, ensuring that the project delivers on its goals, and provides expected outcomes to all internal and external stakeholders.
- PRINCE2 uses a widely recognised approach, with common language that improves communication between stakeholders. This saves time and energy.
- PRINCE2 provides clear definitions of project roles and responsibilities, with all stakeholders understanding each other’s. This provides a clear structure, setting clear lines of authority, delegation, accountability, and standards of communication.
- Using a common approach and language ultimately saves time. All team members understand their tasks and responsibilities and can commit to them from the outset, which means that focus is placed on what the project needs to deliver.
Managing a project within PRINCE2 framework ensures that it will be delivered effectively. The business case will be fulfilled with change managed seamlessly, as the quality of services are maintained while project outcomes are delivered successfully. To discover how PRINCE2 project management could drive success of your projects, contact your Project Manager.