PROMPT II was a strategy adopted by the Central Computer and Telecommunications Agency (CCTA) of the UK in the year 1989 as a UK Government standard for information systems (IT) project management. PROMPT II IN the CCTA Environment was termed as ‘PRINCE 2’. Later on, the acronym stood for Projects IN Controlled Environments and was used in the UK and the rest of the world apart from the IT environment.
The strategy PRINCE2® was launched in the year 1996 as a generic project management method. Due to its practicality and methods, the strategy is highly preferred by project managers as it contains some specific themes and processes. Despite being the most popular strategy in the UK it has also been recognized globally as an effective management system for the project managers and users.
PRINCE2 is a Project Management Method used by professionals in different industries. It is also one of the most widely utilized Project Management methodologies across the globe. With some proven principles the method ensures the success rate of the project by making sure its successful delivery.
However, PRINCE2® Training follows these seven principles:
- Continued business justification
- Learn from experience
- Defined roles and responsibilities
- Manage by stages
- Manage by exception
- Focus on products
- Tailor to suit the project
The methodology PRINCE2 works irrespective of factors such as the size and type of the project and the organizations can utilize it for many projects within its industry.
Why PRINCE2 Certified Professionals are Being Hired at an Organization?
Involvement of Best practices of the Industry
PRINCE2 covers a wide range of activities and plans that are required for different types of projects also its principles include the best project management practices. Despite the different backgrounds the Project Practitioners use its principles and ensure the project plan, project requirements, project responsibility, project scope, and project risk is identified and understood.
Increases efficiency of the Project / Organisation
Considering the cost and budget the project objective can be easily determined and formulated by the project managers and stakeholders using PRINCE2 methodology. It increases the overall efficiency of the project by enhancing the communication between the executives, increasing involvement among them which further eases the process of negotiation and seeking approvals.
A Standard Approach To Risk Management
By facilitating, determining, imposing, controlling, reducing and transferring PRINCE 2 follows a standard approach towards risk management which therefore makes it different from the rest of the project management methodologies.
Projects are Undertaken in a Controlled Environment
It moves ahead step by step from the beginning till the end. Along with this it also focuses on the different aspects of the project and takes care of its smooth functioning throughout.
Division of Tasks
The PRINCE2 methodology gives you the advantage of separating the different phases of a project which helps in making the large-scale projects manageable. It is a time saver and allows the employees to perform their duties and tasks more efficiently and responsively.
Delivers Value To The Organization
PRINCE2 methodology delivers value to the organization by periodically reviewing the stages of project lifecycle which in turn ensures the project feasibility. As if there would be no project feasibility, it will lead to a big question mark on the continuation of the project.
PRINCE2® stands for Projects in Controlled Environments’ certification and is a project management course. The methodology provides a systematic guideline through its professional processes, steps, and templates when delivering any project.
The methodology focuses on the process and the project as well. Its principles can be implemented by various organizations for different kind of projects. Its stepwise and standardized approach to project management makes it unique in the business. The roles and responsibilities of each team member are assigned according to the task they are associated with.
The approach is used widely in the UK and is also recognized internationally. It emphasizes on dividing projects into manageable steps from beginning till the end. The practices are used by different industries. The certification of PRINCE2® comprises different levels which are as follows:
PRINCE2® Foundation (basic level), PRINCE2® Practitioner, PRINCE2® Professional (for practitioners) and PRINCE2® Agile (Agile methods).
PRINCE2®qualification is considered to be an asset in the industry of project management. It is of as much value as others. If you want to deliver a project successfully, timely, in your budget with high quality and standards then PRINCE2® is the only method you should go for.
There are a lot of benefits of attaining a PRINCE2® certification, and some of them are as follows:
- It is responsible for developing the framework of the project.
- It provides an accurate and step by step list of what should happen and when it should happen.
- PRINCE2® also guides the project manager regarding the execution of a particular task.
Why PRINCE2® is widely used By Organizations?
The methodology is self- encompassing and is very useful for the organizations.
It doesn’t require software and can be applied to all the projects easily. So if you want a successful and timely completion of your projects without any hassle then this is the strategy which you should adopt.
PRINCE2® follows a practical approach and this makes it highly preferable by the project managers. Along with this, it is highly flexible and easily adaptable for all types of projects. The language is common and is used by all in project management.
Today there is a need to become a certified project manager as they are in higher demand than ordinary project managers.
Industries like IT, real estate, energy, FMCG, banking and many others prefer using PRINCE2® as its project management strategy. These industries apply their principles and methods for planning, executing and completion of a project.
The processes of PRINCE2® framework are adaptable and easy to use by SMEs and more defined organizations. It offers a result-oriented approach and helps the project managers in using the best practices that are required to ensure the successful completion of the project.
Every year the enrollment keeps on increasing for the PRINCE2® certification as it is recognized all over the world. The strategy helps in solving project management issues by identifying any risks, opportunities, and threats in projects along with this it also helps in determining some best responses for risk management.
Be it public sector companies or the private sector industries PRINCE2® methodology employs best practices in initiating, managing and completing projects. This further helps in the successful delivery of the projects despite its schedule and budget. The strategy also minimizes the chances of project failure as it is highly adaptable and flexible. All these features make this method the best fit for any industry sector or project type.