PRINCE2® Project Management Explained in 7 Simple Tips

What is PRINCE2®?

PRINCE2® is a project management methodology used in many large and small businesses worldwide. PRINCE2® is favoured by a large number of government and multi-national organisations.

It’s a very popular approach to managing projects, due to its combination of clear structure and flexibility.

Where did PRINCE2® come from?

PRINCE2® developed from an older project management system, PROMPT II.

The term PRINCE2® stands for Projects In a Controlled Environment, and the 2 is taken from “PROMPT II”.

PRINCE2® was established in 1989 and quickly become the primary project management approach used by government agencies in the UK.

In the 30 years since its inception, the popularity of PRINCE2® has expanded to make it one of the most-utilised project management methodologies worldwide.

What are the Benefits of PRINCE2®?

A Reliable Framework

One of PRINCE2®’s defining characteristics is structure. When utilising a PRINCE2® approach, you’ll have the benefit of a reliable project management framework to guide your steps as you work towards your project goals.

A Structured Project Management Team

PRINCE2® project team members have clearly outlined roles and responsibilities. This eliminate any ambiguity and reduces the risk of tasks falling through the cracks.

Everyone knows what is expected from them, and what falls under their area of responsibility.

Consistently Clear Communication

PRINCE2® has a terminology and structure that enable all involved with the project touse a common language and process. This helps speed up communication and avoid any obstacles that occur as a result of miscommunication.

Ongoing Improvement

This project management methodology incorporates a strong focus on reflection and learning. Teams will evaluate the successes and failures within a particular project cycle. They identify what they can do to improve, and bring this learning into the next project.

High Value

In PRINCE2®, there is always a clear focus on delivering value. Having a justified business case is a pre-requisite for any PRINCE2® project.

Before beginning, and throughout the life-cycle, the team will continually come back to the value add elements of the project.

Flexibility and Scalability

Although centred around structure, PRINCE2® also offers great flexibility. It can be tailored to suit almost any project, and can be scaled to handle projects of all sizes.

Ability to Blend PRINCE2® with other Methods

In today’s project management world, the most popular methodologies are the ones with the greatest amount of versatility and the capability to combine with another method.

PRINCE2® can be combined with a number of other approaches to managing project including Agile, Scrum, and elements of the Project Management Institute (PMI)® framework. 

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