Regardless of the sector or project size, project managers frequently recommend implementing PRINCE2 Training as the project management approach for smooth execution and effective project delivery. This post will provide comprehensive information on what PRINCE2 is and how it might benefit you.
This article covers the following topics:
- Methodologies for Project Management
- What exactly is PRINCE2 Training?
- History of PRINCE2 Training
- Elements of PRINCE2 Principles, Themes, and Processes
Methodologies for Project Management
The market is continually changing in today’s world. New methods are being developed and implemented, while better and more modern ones are replacing outdated ones. The process of pursuing new initiatives remains constant inside businesses in this period of perpetual development/advancement. A Project Manager bears sole responsibility for the successful completion of projects.
However, assuring the project’s success and achieving consumer expectations is difficult. Project managers frequently battle difficulties such as imprecise customer specifications and insufficient organisational frameworks while starting a project. Project financing and team duties are not always clearly defined. These may appear to be little difficulties, but when taken together, they create significant ambiguity, leading to conflicts and project failures. So, how do Project Managers navigate this dilemma?
Here is where Project Management Methodologies come into play. A variety of techniques are available on the market. These techniques each have their own set of rules, processes, concepts, and practices. Which approach you need to use now depends entirely on your project’s nature. If you can accurately identify and select the ideal approach, you can optimise the time and resources allotted to your project.
I’ve included the top eight most widely used project management approaches around the world below:
- Agile Scrum Kanban Six Sigma Lean Waterfall PRINCE2 PMP/ PMBOK Guide Agile Scrum Kanban Six Sigma Lean Waterfall
- In this paper, I will focus on PRINCE2 Training. So, let’s get started with this post and learn precisely what PRINCE2 is.
What exactly is PRINCE2?
PRINCE2 is an acronym that stands for PRojects IN Controlled Environment. PRINCE2 has become the de-facto standard in project management, with over 1 million qualified practitioners in 150 countries worldwide. Regardless of the business or the scale of the project, PRINCE2 delivers impressive results. It is a process-based strategy that focuses on the organisation and controls the project from start to finish.
This methodology’s initiatives frequently begin with a clear and thorough strategy. It gives a suitable structure for the project, with each stage specified as having a beginning, middle, and end. It is more concerned with delivering items than with carrying out activities. Everything is carefully wrapped up when the project is completed, and all loose ends are tied up.
History of PRINCE2 Training
PRINCE2 is an acronym that stands for Project Resource Organization Management Planning Techniques. Simpact Systems Ltd created it in 1975 as a project management method. PRINCE2, which stands for PROMPT II IN the CCTA Environment, was published in 1989 and quickly surpassed PROMPT in public domain projects. It wasn’t until 1996 that PRINCE2 was released as a generic project management method.
Later in 2009, the abbreviation PRINCE2 was altered to mean “PRojects IN a Controlled Environment,” along with a few other significant adjustments to the approach. PRINCE2 became more simple and more light after this revision. PRINCE2® was transferred to AXELOS Ltd. in July 2013. Axelos Ltd. released a significant update later in 2017. According to this release, the new guidance now emphasises scalability and flexibility.
If any of the above elements are missing from a project, it will not be deemed a PRINCE2 project. The Principles will explain why, the Themes will explain what, and the Processes will explain how.
Let us now go over each of these elements individually:
Principles
Seven guiding principles ensure your project is entirely based on PRINCE2 methodology. If you fail to complete any of them, your project will not be deemed a PRINCE2 project. I’ve outlined the seven principles below:
Continued commercial justification
Your project’s execution and management should be justified at all stages of its lifecycle. It will be closed if it fails to do so.
Learn from your mistakes.
The relevant teams must always explore and draw lessons from past data to ensure the successful execution of the PRINCE2 project.
Roles and responsibilities are clearly defined.
A solid organisational structure must be built in any PRINCE2 project, with the right personnel participating and their duties specified.
Stage-by-stage management
For better and more efficient planning, monitoring, and control, the PRINCE2 approach divides the entire project into more miniature stages.