Project management has become a vital part in any business structure. Most small to medium enterprises (SMEs) have their own project management departments, and some smaller businesses offer project management as their primary source of business. Quality project management brings multiple advantages to any project, the most important being time and money saving. Project management can save time and money by carefully structuring each part of the project process and focusing on the parts that are really important, while at the same time avoiding non-relevant parts that would waste precious resources.
PRINCE2 (PRojects IN Controlled Environments) is a process based method for effective project management. It is a method and standard used by the British government, but it has found its place in the private sector both in the UK and internationally.
In every project management there should be a few basic questions answered before starting including:
1. What is the goal of the project?
2. When will the project start?
3. What will the project require?
4. Can the project be accomplished alone or with outside assistance?
5. When will it end?
6. What will be the costs?
These questions will be the base of the project and the essential part for the structured project management. That means that the project can be managed in a logical, organized way by following defined steps.
PRINCE2 methodology states that each project should have an organized and controlled start, an organized and controlled middle and an organized and controlled end. That basically means that you should know what the project is about before starting unprepared, follow the plan of the project and follow through when the project is completed in order not to leave anything unfinished.
Business can use the PRINCE2 methodology to improve their project management because it offers a specialized and proven method for project management. It breaks up a project into sensible segments which can be monitored, and more importantly, it closely defines each role in the project management so that there is no confusion about who is doing what part of the project. It also offers a transparent project model so everyone involved in the project can see the current status. Communication is also brought to attention and this method establishes very stable and consistent communication lines within the project structures.
Another interesting feature of the PRINCE2 methodology is the presence of control mechanisms. These are usually board based, and they include all sides of the projects such as project managers, investors, users and suppliers.
Review of the project and learning from the mistakes made is easy with PRINCE2 due to its report and follow through methods with which each step is carefully and fully documented and recorded.
PRINCE 2 courses offer certification for project management in several stages. The Foundation certificate is a requirement for those who want to learn the basics and terminology of this method. Practitioner certificate is meant for those who want to manage project within a PRINCE2 environment.
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