Prince 2 is project management method.
Prince 2 can be applied to any project irrespective to any industry. Prince 2 talks about
- Define products
- Activities @ dependencies
- Prepare estimates
- Prepare the schedule
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
- PRINCE 2 stands for Project in Controlled Environment.
- The latest version of PRINCE 2 is 2017.
- Prince 2 is very processed based and practical approach.
- 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:
- Value and fundamentals
- Business case
- Tailoring a project
Project Management Method
- All W’s – why, what, when, where, who will apply.
PRINCE 2 Concepts
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
- On time,
- In budget i.e. meeting the project in expected cost.
- 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
- Best Practices
- Applicable to any project
- Easy to learn
- Cheap to implement