PRINCE2 is considered the simpler collection of Projects in Controlled Environments, and it is a well-executed project management process as well as the practitioner certification program. It focuses on distributing projects into controllable and manageable levels. There are many companies from all across the world that adopt PRINCE2. In order to earn PRINCE2 Certification, individuals must choose the PRINCE2 training, which is available in different languages both in online and offline mode, and it was developed in the form of a United Kingdom government standard driven towards information systems projects.
PRINCE2 principles divide the entire project into numerous stages, and each stage is managed in a specific manner.
The seven PRINCE2 principles are:
- Extended business justification: There must be a justifiable reason behind executing and managing the change project. If not, the project should not be executed.
- Learn from experience: PRINCE2 project teams have kept learning continually and apply lessons learned from previous work.
- Defined roles and responsibilities: The PRINCE2 project team must have a vivid organizational structure and should include the right project members in the right tasks.
- Manage stage-wise: PRINCE2 projects should be managed, created, and controlled on a stage-by-stage basis.
- Manage by exception: Individuals working within the project process should be given the correct amount of motivation to work within the changing environment effectively.
- Focus on products: PRINCE2 projects focus on the product quantity, delivery, and quality according to the customer’s requirements.
- Tailor to suit the project environment: PRINCE2 must be tailored to deal with the project’s environment, complexity, seriousness, importance, capability, and risks.
With PRINCE2, 7 processes are involved.
There are a total of 7 management processes in PRINCE2, where each process has the task of handling one of the management levels, as a Project Manager Or Team Manager.
Processes in PRINCE2 Methodology
1. Starting up a Project Process
The primary process of PRINCE2 involves activities that are necessary to make sure that it is a worthy change and a viable project. The common activities involved in starting up a project process are:
- Appointment of the project and executive manager
- Appoint and plan the project management team
- Capture previous lessons
- Prepare an outline business case
- Choose the project approach and assemble the project information
- Plan the initiation stage
2. Directing a Project Process
The second process involves the project board members. In this process, the main authorization is given to lead a project, to keep monitoring it continuously, and provide ad hoc direction whenever needed. The common activities of directing a Project process are:
● Authorize initiation
● Authorize the project
● Authorize stage or an execution plan
● Provide ad hoc direction
● Authorize project closure
3. Initiating a Project Process
Initiating a Project process is pushed towards the Project Manager, who manages the maximum work in this initiating process. The common activities of initiating a project process are as follows:
● Agree on tailoring needs
● Preparing the risk management approach
● Preparing the change control approach
● Preparing the quality management approach
● Preparing communication management approach
● Set project controls
● Create a project plan
4. Controlling a stage Process
This process involves ensuring that the management stage stays within boundaries. It starts when a stage is authorized to move forward by a project authority, and its activities are carried out by a project manager or a change manager.
● Authorizing a work package
● Review status of work package
● Get completed work packages
● Review management stage status
● Report highlights
● Assess and capture issues and risks
● Escalate risks and issues
● Take corrective action
5. Managing Product Delivery
This process specifically focuses on the delivery of the end service or product of a change project. It is performed by the project team leader primarily, the technical manager, who transfers the reports and the statistics to the project manager. The activities in this process are:
● Accepting a work package
● Perform a work package
● Send a work package
6. Managing State Boundaries
This process brings management to the stage. It is required so that a project team leader may analyse the success rate of the present stage and allow the progress of the future stage. The activities performed by the project manager in managing state boundaries are:
- Planning the succeeding management stage
- Updating the project plan
- Updating a business case
- Report Management stage
- Create an exception plan
7. Closing a Project
A project is a temporary endeavour. It has a starting and an ending. The project executing jobs are very small and visible to senior management; therefore, they have a vast role in project success rate. The common activities involved in the Closing a Project process are:
● Prepare planned closure
● Prepare premature closure
● Hand over products
● Evaluate the project
● Recommend project closure
● The Project Manager suggests project closure to receive Project Board’s approval
PRINCE2® Process Model
PRINCE2 is considered to be a process-based approach adopted by companies, which is highly beneficial for project management, and there are mainly seven processes that will guide an individual through the project change. Every project involves a set of activities, and based on these activities, professionals help in directing, managing, and delivering a project.