Introduction & Importance Of Prince2

In a world where the pace of change in business is accelerating, the importance of balancing current business operations and business transformations has never been more paramount. The penalties for failing to adapt to change become more evident. Whilst we strive to manage business as usual & business change, it is virtually impossible to balance the two within a project environment.

A Project is a temporary organization born to provide a product or service to a clients business case.

They introduce change and are temporary as they have a defined start and finish period. They then cease and new projects are born to allow business as usual. They are cross functional as they require a team to be created of different skills all working together to provide the end product from the business case. Juggling projects that involve multiple divisions from within an organization or and/or multiple organizations can cause stress and strain within these organizations. 

Every project has a similarity to its structure but they are unique. As usually require different teams, customers and locations. So always outside variable need to be incorporated into the project.

Due to this, there is always a degree of uncertainty to any project and the threats and opportunity for success always have to be weighed carefully. Projects tend to be more risky than business as usual operations.

All these variable have to be carefully managed by implementing a project management strategy, or the results are catastrophic to business success.

The definition for project management stated in the Prince 2 manual:

“Is the planning, delegating. monitoring and control of all aspects of the project, and the motivation of those involved, to achieve the project objectives within the expected performance targets for time, cost, quality, scope, benefits and risks.”

As mentioned projects involve the teamwork of various skills so the purpose of project management is to keep control over the specialist work required and to organize the timelines of each skilled specialist for efficient delivery and cost effectiveness of each project.

It is important to reduce risk of failure by implementing a secure, consistent, well proven approach to project management is business investment not to be overlooked.

PRINCE2 is an internationally accepted method for managing any project, no matter what the industry is, as it is wholly generic. It provides a secure overall framework for the project work of the different organizations.

The Project Manager wishes to Control:

Costs, Timescales, Quality, Scope, Risk and Benefits.

PRINCE 2 has a structured methodology composed from four integrated elements of principles, themes, processes and the project Environment.

PRINCE 2 however does not cover every aspect of project management.

There are 3 categories declared outside the scope of PRINCE2, they are:

Specialist Aspects.

Detailed Techniques.

Leadership Capability.

The benefits of what it does encompass far outweigh what it doesn’t encompass.