What Is PRINCE2 Project Management

PRINCE2 is a familiar method in project management that is used across most countries around the world. It mainly focuses on the organizations and the control during the project. Each project starts with a plan that guarantees each step is structured and well planned. Any loose ends are tied up When the whole project is done. Practically speaking, what is PRINCE2?

The seven principles of PRINCE2 project management

There are seven principles to it:

1. 1. Every Project should have business justifications, that includes: What are the current needs of the market? The Costs, benefits of the business.. etc.
2. The lessons learned along the way are recorded in order to be taken into account when it comes to future projects.
3. The duties of each member of the teams are clearly defined.
4. Work is split up into stages, especially large projects. And keeping time between stages in order to reflect the lessons learned before.
5. The board construct the essential requirements such as budget, deadlines, risk and Scope. You might want to take a look at Project Scope from here: WHAT IS A PROJECT MANAGEMENT SCOPE?
6. Teams use a quality register to make sure deliverables meet the set requirements.
7. PRINCE2 does not have a fixed criteria, that being said, each project should come with it’s own suitable PRINCE2 adjustment.
   
   

The 7 phases of PRINCE2 project management

PRINCE2 Follows these Seven Phases:

1. Start-up: At the start of each project, a mandate is made and it’s submitted as a request. This should outline the proposed business justification. Once approved, we start to cover more details including the time if delivery and the resources allocated.
2. Directing: The board Review Project proposals in order to make a decision.
3. Initiation: The Project Manager creates a cohesive workplan that includes deadlines, budget, scope, risks, and benefits. You might also like: TOP 6 PROJECT MANAGEMENT SKILLS
4. Controlling: The project manager splits the work into smaller phases
5. Determining the Boundaries of each phase: by the end of each phase, the project stops in order for the board to decide whether to go further to terminate the project.
6. Closing: When the project is over, the manager complete any necessary documentation, outcomes, reports.