Blog

3 Aug 2018

PRINCE2 Methodology

Prince 2 is project management method.

Prince 2 can be applied to any project irrespective to any industry. Prince 2 talks about

  1. Design
  2. Define products
  3. Activities @ dependencies
  4. Prepare estimates
  5. Prepare the schedule
  6. Document

And Analyze the Risk in all above

Prince 2 is valuable course and it benefits to you as an individual and your organization.

Prince 2 examination and certification process is consist of foundation and Practitioner and as certification suggest one needs to be foundation certified to site for Practitioner exam.

Facts about PRINCE 2

  1. PRINCE 2 stands for Project in Controlled Environment.
  2. The latest version of PRINCE 2 is 2017.
  3. Prince 2 is very processed based and practical approach.
  4. PRINCE 2 can be applied to any project i.e. it can be applied to any size, complexity or industry.

PRINCE 2 can be divided in 10 categories and once you are through with all categories, you can adopt the PRINCE 2 in your business i.e. adoption of PRINCE 2 in project. Yes, you can tailor PRINCE 2 as pee your project needs.

PRINCE 2 10 categories are:

  1. Value and fundamentals
  2. Business case
  3. Organisation
  4. Quality
  5. Plans
  6. Risk
  7. Change
  8. Progress
  9. Processes
  10. Tailoring a project

Project Management Method

  • All W’s – why, what, when, where, who will apply.

PRINCE 2 Concepts

  1. Principles
  2. Organization
  3. Processes
  4. Themes

Project

Q – What is Project?

  • Projects are unique, Project implement change and projects are temporary.

Q – Why do we need Project management method?     

  • To avoid FAILURE
  1. On time,
  2. In budget i.e. meeting the project in expected cost.
  3. Quality as expected.

Overall facts are

  • 45% of project goes over budget
  • 7% over time i.e. Delay in project delivery, cost increase
  • 56% don’t deliver quality
  • Only 40% projects meet goals means 60% projects just completed for the sake of completion
  • 17% threatens company existence

Q – Why Project fails?

  • Communication – bad communication and not defined hierarchy
  • Stakeholder management
  • Organization – not clear on role and responsibilities
  • Scope and Requirement – poor planning, customer doesn’t not requirement in define way and people involved in project doesn’t know the SCOPE of project.

Q – Why PRINCE 2 as project management method

  1. Best Practices
  2. Applicable to any project
  3. Easy to learn
  4. Cheap to implement

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