We could see several projects that are underway in the recent scenarios surrounding us. Each and every project requires a project manager for ensuring about the fact that the project would be successful, irrespective of the type of project being executed. A person who checks every detail of a project is termed as the project manager. The project stages are also checked by this project manager. The project management is defined as the finding of the goals that should be achieved by us or the procedure how these goals could be achieved and the duration required for achieving them.
Before starting anything new like an assignment or any bigger project such as construction, few questions are required to be answered for us. These questions are as follows:
What should be done in the work?
When the work is required to start?
Which resources are required by us?
Can we complete the work alone or we would require help from any other person?
What will be the duration of the work?
How much monetary resource will the work incur?
The above mentioned questions can be answered by the building blocks of the project management.
A poorly controlled project comprises of the high failure probability. Few noteworthy examples of failed projects are Channel Tunnel and London Ambulance. These two projects were not only two failed projects, but even incurred huge monetary losses. Hence, we would discuss a structured methodology or project management in the following report that helps in controlling or reducing project failures to a greater extent.
Prince2 is one of the most popular and prominent methodologies in project management. This prince2 or Project in Controllable Environment 2 started its journey as the standard by the government of United Kingdom for any IS project. This is the basic technique that eventually enforces the need for splitting up the project accountability within the project manager and board of directors. The management of resources is the main responsibility of the board of directors. Moreover, they also have to provide business justification for all projects. However, the manager of that project is responsible for taking care of every activity and also managing the teams regularly. The best example of the structured PM is prince2 methodology, in which any project is sub divided to definite steps for making it more organized as well as logical. According to prince2 framework, all projects should be having definite and organized starting point, middle point and ending points. It helps to ensure that the project is being executed as per planned. prince2 methodology is utilized within several countries in the world like the Western European countries, United Kingdom and Australia.
This particular PM methodology is on the basis of seven principles that are continuous business justification, learning from experiences, definite roles or responsibilities, managing by steps, managing by exception, focusing on the products and tailor to suit the environment of project. The seven themes are business cases, organizations, quality, plan, risks, changes and progress.
prince2 methodology has the core connection with one of the previously utilized PROMPT II methodology. A specific standard of the government of UK was being adapted in the year of 1989 for IS project management. This was termed as prince, which was applied not only withinprince2 is the second version of prince and even this particular methodology has become popular.
Two major phases of this methodology was launched in 1996. The first was in 2009 and was called prince2 refresh and the next phase was in 2017, called prince2update. This update was regarding the various changes within the business practices as well as reviews or feedbacks from the several users of prince2 for the original environment of project.
Various corrections were being faced in prince2 from the beginning of 1996. The client groups started the discussion about the updates of prince2 globally in 2002. By 2009, this particular methodology was made more customizable. The version of 2009 is from the seven standards of project management.
The next change was announced in 2009 by Axelos and hence the new direction is about flexibility and scalability. There are various changes within this type of improvement and the changes are minimum for qualifying like prince2.
Directing a Project
Project direction refers to the proper follow up of project. The coordinates and controls of the project board undergo several decisions. The main processes could be broken down into few important territories and these are given below:
i) Project initiation.
ii) Limiting the stages.
iii) Ad hoc directions for checking the progress and providing direction.
iv) Execution of conclusion.
v) The regular exercises are not being covered by project manager.
The second process of prince2 methodology is termed as the starting up of project. This is the previous project procedure that could guarantee previous imperatives to initiate the project. This process has the expectation of project mandates for undertaking the desired results. The three major components of this particular project are as follows:
i) The first component is providing guarantee that the data is secured and could be easily accessed for any type of group task.
ii) The next important component is to plan as well as the name the team of project management.
iii) Finally, the initiation stage planning is made and this is the third component.
The main objectives of project initiation are given below:
i) Concurring of project goals irrespective of the fact that whether there is sufficient information available or not.
ii) The next objective is building up of the steady management plan.
iii) Affirming and archiving that the sufficient business case is present in the project.
iv) Moreover, the guaranteeing of the firm as well as the acknowledged foundation for this project even before starting the work.
v) There should be a distinct consent to the asset dedication for the first stage.
vi) Another objective of the project is to empower ad the urge of the project for undertaking the project responsibilities.
vii) The standards should be given for the basic forms of leadership needed for the project life cycle.
viii) The time venture should be guaranteed and the exertion is needed carefully for the proper assessment of the project dangers.
The process provides project board the major choice indication on the proceeding of projects. The procedural targets are given below:
i) The project board guarantees that each and every expectation that is being arranged within the current stage plan has been completed as characterization.
ii) This project board is expected to provide data for the proper evaluation of reasonability of the projects.
iii) This project board provides the data as expected for favouring the current stage and then approving the starting of the project.
iv) The exercises and estimations are also recorded that would be helpful for the other project phases.
The significant phase helps in demonstrating the control exercises as well as checking of project manager for guaranteeing the stage for responses. The phase of the project after comprising the:
i) The work that could be finished is approved.
ii) The respective progress data is collected regarding the work.
iii) The changes are checked properly.
iv) Various circumstances are evaluated.
v) Reporting of the project.
vi) The final component is to make the important remedial moves.
The process target is the guaranteeing of arranged item for proper delivery:
i) The verification of the work on products is approved by checking and accepting of the work progress.
ii) The work progress is evaluated frequently.
iii) Acquiring the endorsement of finished items.
iv) Ensuring that the quality criteria are met properly.
This is the final process of the prince2 methodology. Here, the project is being wrapped up and the guarantee is provided the project would close. The main targets of project closure are given below:
i) Confirmation of degree for setting the project initiation documents.
ii) Providing affirmation that the satisfaction degree is being achieved.
iii) Acquiring the formal expectation acknowledgement.
iv) Making suggestions of the project activities.
v) Catching the exercises for finishing the lessons learning report.
vi) The activity course of actions are properly set up in this target.
vii) Setting up of end project reports.
viii) Ensuring that all the requirements of the clients are properly met.
ix) Informing the hosting association for the purpose of disbanding project resources and organizations.
Prince2 has three distinct plans for showing the several requirements within the management levels of groups, stages and project.
Planning could be stated as the repetitive process and the exercises could be incorporated within the seven suitable forms of prince2.
The various activities for arrangement are as follows:
i) Plan outlining.
ii) Characterize or product break down.
iii) Recognition of conditions.
iv) Ready-made assessments.
v) Timetable setting up.
vi) Breaking of dangers.
vii) Arrangement archiving.
The strategy of Product based planning is being utilized by prince2 methodology for undergoing few exercises:
i) Composing project product description.
ii) Products breakdown structure.
iii) Composing items’ descriptions.
iv) Making of product flow diagrams.
The management products of prince2 are given below:
i) Benefits Reviewing Plan: This helps to estimate the advantages of project.
ii) Business Cases: This is utilized for catching monetary defence.
iii) Checkpoint Review: The total follow up of the project is taken by the project manager.
iv) Communication Management Strategy: The various strategies are being managed for proper communication in the project.
v) Configuration Items Record: This provides the history, status and version of the products in details.
vi) Configured Management Strategies: These are utilized for recognizing the distinguish ability, control and security of the products in a proper manner.
The Agile as well as prince2 methodologies are produced as the major characteristic of the technological business. These two methodologies have the same objective of streamlining the methods for executing the projects. The prince2 methodology is the step by step process for turning into the pieces of several enterprises; however the adaptability of the Agile methodology provides the permission for technological projects with the purpose of development after some time. Axelos has demonstrated a complete review that consisted of several individuals, who have implemented the information technology foundation after undertaking the methodology of prince2. This particular review also comprised of the list of respondents, who have checked the respective Agile incentive whether prince2 capability is present or absent. This particular factor depicts that there is a major development within the Agile methodology popularity. prince2, on the other hand still remains the well known and the most popular methodology of project management that has been tested over 1 million times from the year of 2012 and hence has been accepted by the users globally. Hence, both of these technologies are effective and efficient and the selection of the methodology of any project completely depends of the manager of that project.
The major advantages of the prince2 methodology are as follows:
i) Can be Easily Predicted: The first and the foremost advantage of this particular methodology is that it could be easily predicted in the project. prince2 is responsible for separating the several projects to phases for the core purpose of checking these phases from initiation to project closure. Hence, the risks of project going beyond control and incurring high costs are completely eradicated in the process. Moreover, regular follow ups are being taken by the project manager in this methodology.
ii) Time as well as Cost Effectiveness: The second important and significant advantage of the prince2 methodology is that it provides time as well as cost effectiveness in the project. Due to the cost effectiveness, it becomes easier for the users to implement this methodology and each and every user can afford it. For the presence of time effectiveness, the overall time for project execution is much lesser in comparison to other methodologies.
iii) Used in All Business Segments: The methodology of prince2 could be easily and promptly utilized within the respective business segments for any specific organization. Hence, all the other techniques of project management could be estimated by this particular methodology.
iv) Utilization of the Best Practices: The next important advantage of the methodology of prince2 is that the best practices could be properly utilized here and thus this has become one of the most popular and well known techniques in project management.
v) Free Utilization: Another significant benefit of prince2methodology is that it does not incur huge costs and is absolutely free for getting it used within the projects. The several requirements of the projects are also checked without incurring any cost or expense and hence it becomes easier for the users to use this methodology.
vi) Institutionalization: The specific strategy of prince2 methodology institutionalizes each and every part of a project for the core purpose of guaranteeing the fact there is no probability of confusion or miscommunication.
The three distinct issues with the prince2 methodology are as follows:
i) Troublesome Change Management: Change is the major factor in each and every project. This type of project adjustment is needed when the clients could modify according to their desires and requirements. The progression of the project is needed for the improvement in the project. Since, prince2 is completely system oriented, such improvement could be done in the project easily.
ii) Lack of Risk Management: The next significant issue within the methodology of prince2 is the lack of risk management. It is extremely for a project to be risk free for avoiding any kind of complexity. However, prince2 methodology does not provide this type of advantage to a project and several risks are present in that particular project. If the project does not settle the issues related to risks properly, various destructions can occur here.
iii) Higher Time for Documentation: The third important and noteworthy issue for prince2 methodology is its heavy weight. The overall time for the documentation is quite high than any other methodologies. This is mainly because of the overwhelming and comprehensive planning.
Conclusion
Therefore, from the above report, conclusion can be drawn that prince2 methodology is the steps oriented, documented as well as a well arranged approach or project administ ation and management. All the procedures in this particular methodology comprises of several advantages and problems. The above report has properly outlined the various advantages of prince2 methodology for the purpose of highlighting the planning oriented and well recorded products. Time and cost effectiveness are the two most significant advantages of this methodology. The identified problems of prince2 methodology are lack of risk management, heavy weight and finally troublesome change management. All the above mentioned problems in prince2could be easily mitigated by the incorporation of this methodology with any one of the techniques of Agile software development like Lean, DSDM, Scrum, Crystal Clear, TDD and FDD.
References
“Blair stays away from MPs’ inquiries on Capita”. Telegraph.co.uk.
“Capita administrator stops after feedback of advances to Labor”. theguardian.com.
“Presenting the PRINCE2 2017 Update” (Press discharge). Axelos. 2017-12-11.
“PRINCE2 STUDY Guide) ® Handbook” (PDF). Task Management Institute. Recovered Dec 15, 2017.
</”what-is-prince2″. www.prince2.com. Recovered 7 December 2017.
Pawar, R., & Mahajan, K. (2017). Benefits and Issues in Managing Project by PRINCE2 Methodology. Retrieved from https://ijarcsse.com/Before_August_2017/docs/papers/Volume_7/3_March2017/V7I3-0134.pdf
PRINCE2 versus Agile | PRINCE2 Comparisons | AgilePM Differences. (2018). Retrieved from https://www.theknowledgeacademy.com/blog/prince2-vs-agile/
The Advantages of the PRINCE2 Methodology – ITonlinelearning. (2018). Retrieved from https://www.itonlinelearning.com/blog/the-advantages-of-the-prince2-methodology
What is project management? (2018). Retrieved from https://www.apm.org.uk/resources/what-is-project-management/
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