For efficient project management, most organisations in different countries use PRINCE2 (PRojects In Controlled Environments) method. This allows for the effective management of projects from initiation through closure and evaluation. This is the most widely used methodology because it is suitable for managing projects of any size, regardless of their origins. This method is updated every 2-3 years. This methodology is preferred by organisations to save time and money on project development while maintaining a high quality product. Any client can ask you to modify the requirements of the project. If you don’t follow a proven methodology, these changes could adversely impact the product development cycle. You don’t have to worry if your project is managed using PRINCE2 methodology.
PRINCE2 recommends seven principles, processes, and themes for tailor-made and scalable project management. Here are the details on the 7 PRINCE2 principles.
Continued Business Justification: Before any actual development of a project can begin, it is necessary to first justify the reasons and objectives. These reasons are maintained throughout the entire PRINCE2 project development process by the team of managers.
Learn from Experience: This principle states that managers should draw on their past experience and use it to improve the current project. Managers are expected to learn from other managers in order to improve their project management. A lesson log contains all the lessons learned from past and current projects.
Defined Roles & Responsibilities: All roles and responsibilities in PRINCE2 projects are clearly defined and assigned to the team and individuals who work on them according to this principle.
Manage by Stages: To ensure efficient management, project development is broken down into smaller stages that can be monitored and controlled individually. Each stage is reviewed to ensure that the project is being developed in accordance with the client’s expectations and requirements.
Manage by exception: This PRINCE2 principle establishes all tolerances for quality, time, budget, and scope. Limits on delegated authority are established and accountability are defined. These tolerances may be exceeded or could be exceeded by the next management level.
Focus on Product: This principle is focused on delivering the project according to the client’s requirements as defined in the requirement documents. This principle includes product-based planning and product description.
Tailored to suit the Project Management: PRINCE2 management should be tailored to fit the project’s needs. This principle states that size, risk, environment and importance, as well as capabilities, should all be considered.
You can take a PRINCE2 management course in London to get a complete understanding of the principles, processes, and themes.
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