What is PRINCE2
PRINCE2 is a structured project management methodology developed by the Office of Government Commerce (OGC), UK and now owned and administered by Axelos Limited, a joint venture between the Capita Group and the UK Government.
PRINCE2 is a proven methodology with recognised professional certification. It offers a clearly defined technique to manage a project from start to finish. It is a process-based approach for project management, providing an easily tailored and scaleable method for the management of all types of projects.
PRINCE2 was developed as a non-proprietary ‘best practice’ project management methodology and with growing popularity, is evolving into an international de facto standard. The method describes how a project is divided into manageable stages enabling efficient control of resources, regular progress monitoring and decision points throughout the project. The various roles and responsibilities for managing a project are fully described and are adaptable to suit the size and complexity of the project, and the skills of the organisation.
A PRINCE2 project is driven by the project’s business case which describes the organisation’s justification, commitment and rationale for the deliverables or outcomes. The business case is regularly reviewed during the project to ensure the business objectives, which often change during the lifecycle of the project, are still being met.
Using a standard ‘best practice’ approach, PRINCE2 ensures that a quality solution can be delivered and enables projects to have:
A controlled and organised start, middle and end
Regular reviews of progress against plan and against the Business Case
Flexible decision points
Automatic management control of any deviations from the plan
The involvement of management and stakeholders at the right time and place during the project
Good communication channels between the project, project management, and the rest of the organisation
Why Use a Project Management Method?
Project failures are all too common – some make the headlines, the vast majority are either forgotten or are swept under the carpet. Either way, there is always a cost. Sometimes this cost is critical. In many if not most cases it could have been readily avoided.
Projects underperform when those who commission it, those who manage it and those who work on it have different ideas about how things should be organised and when the different aspects of the project should be completed. A project management method is a way of ensuring that all key players are operating with the same rules and guidelines. Without a project management method, projects will rarely be completed on time and within acceptable cost – this is especially true of large projects. A good project management method will guide the project through a controlled, well-managed, visible set of activities to achieve the desired results.
There are many project management methods available. Ultimately all are based on common sense and sound management procedures. PRINCE2 is one of the most widely adopted project management methods in the world today.