24.07.2020PRINCE2: A structured framework for effective project management
The purpose of PRINCE2 project management methodology is to ensure that project management best practice is maintained throughout the duration of a project. Its overall aim, however, is to give any project the highest probability of success.
In the process, PRINCE2 aims to ensure that the purpose of any project remains viable, that resources are used efficiently, that each stage of the project is effectively managed, and that a logical and systematic approach is applied whatever the project’s scale or complexity.
In brief, the seven principles inherent in PRINCE2 project management methodology are as follows:
Continued business justification for for the project.
A project mandate should be created to explain the project’s purpose, who will carry it out, and how. There should be continuous assessment through all stages to ensure that justification remains valid. It should also make good business sense, show a clear return on investment, and justify the time and resources used.
Learn from previous experience.
Prince2 projects should draw on experience gained from previous similar projects and use that knowledge throughout each stage of the project. A continually updated lessons log should be kept.
Clearly defined roles and responsibilities.
Everyone involved in a Prince2 project should know what their responsibilities are within an organisation structure. This includes business sponsors, the project’s end users, and the suppliers providing the resources.
Manage by Stages.
Project managers should break the project down into manageable stages, assign teams and their managers, and maintain clear communication between them. This ensures continuous monitoring and assessment of the project and control of each stage, so problems can be addressed and corrected.
Manage by exception.
By defining responsibilities for managing, directing and delivering a project, accountability at each level is also clearly defined. Thereafter, Manage by Exception is used by each level in the project organisation to manage the level below. The layer below should only notify the above management layer if there is an issue that is outside their tolerance.
Focus on products.
The product should be clearly defined from the start. A clearly defined project product description provides clarity, purpose, composition, derivation, format and quality criteria, maintaining a focus on the product(s) to be developed throughout the project. This also allows all stakeholders to have a clear idea of what to expect.
Tailor to suit the environment.
PRINCE2 projects should be scaled and tailored to ensure that the project’s controls and the way progress is measured are based on the project’s scale, complexity, importance, capability and risk. Whether your project is as small as making a teapot, or as big as building a nuclear power plant, you should tailor PRINCE2 to suit the project.
At AEON, we apply PRINCE2 methodology rigorously to every one of our projects, regardless of size or scope. This ensures that clients receive a genuine bespoke project management service that is of the highest quality whilst being resilient and cost-effective.