Understanding the PRINCE2 Project Management Technique

PRINCE2, or PRojects IN a Controlled Environment (PRINCE2), is a common technique used in over 150 countries for project management. It’s a process-based technique that focuses, from start to finish, on coordination and control across the entire project.

This means that each project begins with a comprehensive project plan, each stage is clearly organised, and any loose ends are wrapped up after the project is completed. But in reality, what is PRINCE2 Project Management?

Keep reading for information about this common project management approach’s fundamental concepts and 7-step method.

7 Main Principles of PRINCE2 Technique

The PRINCE2 technique is based on the following seven main principles:

1. Projects must have a business rationale, including a compelling need, a specified client, practical benefits, and a rigorous cost evaluation.
2. Continuous learning is important. At every step in the process, lessons are sought and recorded, and used to strengthen future work.
3. There are clearly defined roles and duties so that everyone knows exactly who is responsible for what.
4. The job is divided into stages. Large projects are split into stages, with time to revisit and reflect on lessons learned in between to ensure that the project is still on track to achieve its objectives.
5. Project boards create baseline requirements for critical elements such as deadlines, expense, risk, and scope, and then assign day-to-day management to a project manager.
6. Teams use a quality register to equate deliverables to specifications.
7. The PRINCE2 approach should be customized to each project’s particulars, with the amount of supervision and preparation tailored to the scope, number of people involved, and so on.

7 Processes Involved in PRINCE2 Methodology

These 7 stages are followed by the PRINCE2 process:

1. Starting a company. A proposal for a new project is made in the form of a project mandate, which specifies the proposed project’s business case. A more comprehensive project brief that covers resources, deliverables, etc. will be generated if accepted.
2. Taking on the role of manager. The project board approves project briefs and decides what is needed to complete the project.
3. Startup. A detailed project schedule, including baselines for time, expense, quality, scope, risk, and benefits, is appointed and generated by the project manager. Work starts after the project board has given its approval.
4. Supervising. The project manager splits the project into smaller “job sets” that the project team is responsible for completing.
5. Managing the Product Distribution Process. The project manager ensures that the project is progressing as expected and that standards are met by deliverables. To either accept or order additional work, the project board then reviews completed work packages.
6. Managing Stage Boundaries is an ability that can be mastered. At the end of each stage, the project board reviews and determines whether to move to the next stage, or abandon the project. Project managers hold a retrospective for their team to document lessons learned and develop procedures in preparation for the next phase of work.
7. Closing. After the project is complete, the required reports, performance, and monitoring are done by the project manager.

Conclusion

The bulk of your focus as a project manager goes to finding the best project management approach for your team. Usually, a technique offers you a structure that includes processes, procedures, values, and beliefs to guide the direction the project wants to go forward.

PRINCE2 has proved its worth and has become a well-known project management technique. You should determine if PRINCE2 is the best choice for their projects and teams, with the above points in mind.

It is the decision of the project manager whether or not to go with any specific strategy and that decision can be best taken after reviewing the criteria of the project, the resources available, and the willingness of the project team to stick to the methodology.

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