PRINCE2 Methodology & Advantages

Projects IN Controlled Environments or known as PRINCE2, is a methodology in project management. Which is applicable to all types of projects.

It is evolved from an earlier method called Project Resource Organisation Management Planning Techniques or known as PROMPT II. In 1989 the Central Computer and Telecommunications Agency (CCTA) started using one of the methodologies of PROMPT II for their Information System Project Management as a UK Government standard. And later they named it as “PRojects IN Controlled Environments” or “PRINCE2” s an acronym name.

PRINCE2 METHODOLOGY

PRINCE2 is not like others framework structure. It can promptly be custom-made to any size or sort of Project Management Framework. PRINCE2 methodology has comprised of 4 primary parts of Integrated Elements. Those are 1.Core Principles; 2.Themes; 3.Processess; and 4.Tailoring.

• Core Principles: It has seven principles. Which is using for evaluating a project in a good way. Those principles are,
• Continued business justification.
• Learn from experience.
• Define roles and responsibilities.
• Manage by stages.
• Manage by exception.
• Focus on products.
• Tailor to suit the project environment.
• Themes: Ought to be tended to consistently be parts of Project Management. It gives us a decent review of how to address each of these viewpoints. Those viewpoints are, Business Case. Organization. Quality. Plans. Risk. Change. Progress.
• Processes: From beginning to the end of a project it has been using seven processes step by step to complete a project. Those processes are,
• Starting Up a Project.
• Initiating a Project.
• Directing a Project.
• Controlling a Stage.
• Managing Product Delivery.
• Managing a Stage Boundary.
• Closing a Project.
• Tailoring: Tailoring is about speculation how best to apply the strategy to Project Management to get a decent adjust of project control and low organisation. It has been checking on
• Terms and Language.
• Management Products.
• Roles and Responsibilities.

Advantages of PRINCE2 methodology

PRINCE2 has lots of benefits and also capabilities. Below we are highlighting all its benefits and capabilities.

Key Benefits:

◈ Conveyance Confidence.
◈ Talk the Same Language.
◈ Client Focused.
◈ Conveys Reliability.
◈ Backings Cross Functional Working.
◈ Convey What the Business Need.
◈ Adaptable Control.
◈ Vocation Development.
◈ Some portion of an Integrated Set.

Key Capabilities:

◈ Support Business Outcome.
◈ Empower Business Change.
◈ Oversee Risk in Line with Business Needs.
◈ Enhance Customer Experience.
◈ Show Value for Money.
◈ Persistently Improve.

Pros and Cons about PRINCE2 methodology

PRINCE2 also has its own few pros and cons. Actually, PRINCE2 has only one small con, which very small to manage.

Its Pros are:

◈ PRINCE2 gives a strategy to overseeing projects inside a plainly characterized structure.
◈ It has been giving learning about what to do if the project doesn’t create as arranged.
◈ In this method, every strategy is resolved with its key data sources and yields and with specific targets and activities to be finished.

And its Con is:

◈ Infrequently PRINCE2 become improper for little tasks or where prerequisites are relied upon to change because of the work required in making and looking after reports, logs and records.