7 reasons PRINCE2 boosts project success
PRINCE2 is one of the most popular project management methodologies in the world and is practised by millions of Project Managers globally. Together with PMBOK, PRINCE2 pretty much covers all the facets required in project management. What is it that makes PRINCE2 such an effective project management methodology?
1. PRINCE2 is a fully encompassing end-to-end approach to project management
PRINCE2 provides a systematic approach to project work. It gives a framework under which it is detailed who does what and when, why they do it, and how it should be done. In many ways it is extremely complementary to PMBOK, which provides guidance on the techniques and tools required during a project lifecycle.
2. PRINCE2 is flexible with a tailoring approach
Though PRINCE2 provides a consistent approach-driven project management methodology, its framework is not rigid. This means that it is flexible as to need and environment, and is capable of being tailored to the unique requirements of specific projects. It can also be dovetailed with other approaches such as Scrum at each stage and work package. This flexibility gives PRINCE2 a huge advantage over other project management methodologies.
3. PRINCE2 ensures stakeholder engagement
Whatever the project, the chances of achieving expected outcomes often hang on engaging stakeholders with it. PRINCE2 ensures that Project Stakeholders are identified and analysed, and their needs and wants are understood. Thus, Project Stakeholders are involved in the project from an early stage. This involvement should ensure that the project scope achieves what is needed, including omitting elements that stakeholders deem unnecessary or harmful to the performance and outcomes of the project.
4. PRINCE2 encourages effective communication
Without good communication, project work will break down. The PRINCE2 methodology and framework puts in place a need to communicate. This starts even before the project plan has been developed, with early-stage engagement of Project Stakeholders, and continues throughout the project lifecycle. There are clear lines of communication delineated by PRINCE2, ensuring that flow of information happens when it is needed and does not overload project participants.
5. PRINCE2 empowers prioritisation
One of the difficulties in project work is prioritisation of projects in a project-driven environment. There are several methods by which this can be done, though one of the most commonly used is to consider ‘MUST have’, SHOULD have’, ‘COULD have’ and ‘WON’T have’ (also known as MoSCoW). The open lines of communication and early-stage engagement of Project Stakeholders with the project management methodology of PRINCE2 reduces this difficulty, and provides opportunity for more clearly defined projects that avoid scope creep.
6. PRINCE2 develops project management capabilities
PRINCE2 ensures that Project Managers and teams gather information throughout a project and learn lessons from both successes and failures. In this way, organisations and individuals are able to develop their project management capabilities and take their experiences from one project to the next, increasing success rates by applying the knowledge and experience acquired.
7. PRINCE2 enables projects to evolve
The project management methodology framework of PRINCE2 understands that change is inevitable, and so has a mechanism to evaluate, plan and execute for change built into it. The methodology considers impacts on the project’s products, stakeholders and other elements, and provides a way for these to be measured, evaluated and implemented to maximise project deliverables and minimise disruption.
Ultimately, PRINCE2 enables project work to start quickly and progress flexibly, with the needs of all Project Stakeholders considered throughout. By providing a communication framework and guidance, PRINCE2 ensures that communication is effective. The result is that projects are delivered more successfully and more frequently, more often on time and within budget.
To discover how focused project management using PRINCE2 methodology can help your project be successful, contact Your Project Manager: