How To Leverage PRINCE2 for Effective Project Delivery
Could Your Business Benefit From a Digital PMO?
MetaPM Team
LISTEN TO ARTICLE
Do you ever feel like the scope of your projects is expanding out of control, and budgets mysteriously shrink? The truth is, this is an all-too-common challenge for project managers.
Luckily, there's a globally recognised project management methodology that can help you achieve project success. PRINCE2 is a framework trusted by over 1 million certified professionals worldwide. A staggering 59% of project managers hold a PRINCE2 qualification, a clear testament to its effectiveness.
This guide outlines the PRINCE2 methodology, exploring its core processes and significant benefits, pathways to PRINCE2 training in Australia, and how to leverage these opportunities to elevate your project delivery.
Table of Contents
- What is the PRINCE2 Approach to Projects?
- The Seven-Step PRINCE2 Process for Projects
- Benefits of Using PRINCE2 Project Management
- PRINCE2 Training Courses and Certification in Australia
- Become a PRINCE2 Certified Project Manager with MetaPM
What is the PRINCE2 Approach to Projects?
PRINCE2 (Projects IN Controlled Environments) is more than a structured approach to project management; it's a philosophy. Where standard project management practices can often be somewhat ad hoc, PRINCE2 emphasises control, justification, and clear communication throughout the project lifecycle.
Here are the core principles of managing projects with PRINCE2
-
Goal Orientation: Throughout the project lifecycle, PRINCE2 demands a strong focus on the project's business justification. Is the project still aligned with organisational goals? Does it deliver the expected value? This ensures projects remain relevant and avoid scope creep.
-
Learning from Experience: PRINCE2 emphasises capturing lessons learned throughout the project and from previous projects. This valuable knowledge is then fed back into future projects, continuously improving project management practices.
-
Defined Roles and Responsibilities: PRINCE2 assigns clear roles and responsibilities to all project stakeholders. This eliminates confusion and ensures everyone understands their contribution to project success. Key roles include the Project Manager, Project Board, and Project Assurance Role.
-
Management by Stages: PRINCE2 breaks down the project lifecycle into manageable stages, each with defined deliverables and decision points. This staged approach allows for regular course correction and ensures projects stay on track.
-
Tailoring to Project Needs: PRINCE2 is not a one-size-fits-all approach. The methodology allows project managers to tailor the framework to the specific needs and complexity of each project.
The Seven-Step PRINCE2 Process for Projects
PRINCE2 outlines a methodical seven-step process that will guide you from project initiation to closure. Each stage focuses on specific deliverables and decision points, ensuring your projects stay on track and deliver real value. Here's a breakdown of the PRINCE2 process:
1. Starting Up a Project
This initial phase lays the groundwork for the project and assesses its viability. Key activities include appointing key personnel like the project manager and executive manager, forming the project management team, capturing lessons learned from previous projects, crafting an outline business case, selecting the project approach, and creating the project brief. The initiation stage plan is also formulated during this process.
2. Directing a Project
The project board takes centre stage in this ongoing process. Its primary function is to authorise key project milestones, including project initiation, stage authorisation, and project closure. The board also provides ad hoc guidance and direction as needed throughout the project lifecycle.
3. Initiating a Project
This stage is where the project manager takes the lead, focusing on detailed planning. A crucial aspect of this process is tailoring PRINCE2 to fit the specific needs of the project. The project manager then tackles activities like defining the project approach, assembling the Project Initiation Document (PID), establishing communication, quality management, risk management, and change control approaches, and setting up project controls. The PID encompasses the project definition, team structure, quality management approach, communication plan, risk management plan, and project controls.
4. Controlling a Stage
This process is all about ensuring that each project stage stays within the agreed tolerances. The project manager oversees activities such as authorising work packages, reviewing their status and completion, monitoring the overall management stage status, reporting key highlights, identifying and capturing issues and risks, escalating serious issues and risks, and taking corrective actions when necessary.
5. Managing Product Delivery
This stage centres on delivering the project's end product or service. The team manager, often referred to as the technical manager, plays a pivotal role in accepting, completing, and delivering work packages. They then report progress and transfer the project back to the project manager.
6. Managing Stage Boundaries
As a project stage nears completion, this process comes into play. It's designed to allow the project board to assess the success of the current stage and formally approve the next stage. During this stage boundary, the PID is updated, and critical project documents are reviewed and confirmed. The project manager is responsible for activities such as planning the next management stage, updating the project plan and business case, reporting on the management stage, and creating an exception plan if needed.
7. Closing a Project
Every project has a finite lifespan. The closing process, while seemingly straightforward, holds significant weight for senior management and plays a vital role in project success. The five key activities in this stage include preparing for planned or premature closure, handing over project products, evaluating the project's overall performance, and recommending project closure to the project board for their final approval.
Benefits of Using PRINCE2 Project Management
If there’s room to improve your project processes and outcomes, this practical methodology can be the solution. By implementing PRINCE2, here’s how you and your team can benefit:
-
Improved Project Success Rates: PRINCE2's structured approach minimises risks, keeps projects on track, and increases the likelihood of successful completion. The project success rate of professionals who hold PRINCE2 certification is 67%, compared to just 33% for those without the qualification.
-
Enhanced Communication and Collaboration: Clear roles and responsibilities defined within PRINCE2 ensure everyone involved is on the same page, fostering better communication and collaboration.
-
Increased Efficiency and Cost Control: PRINCE2 promotes efficient resource allocation and project management, leading to cost savings and time optimisation.
-
Better Risk Management: PRINCE2 emphasises proactive risk identification and mitigation strategies, ensuring potential issues are addressed before they derail the project.
-
Improved Stakeholder Satisfaction: Clear communication, defined roles, and on-time delivery lead to happier stakeholders, both internal and external.
PRINCE2 Training Courses and Certification in Australia
Investing in PRINCE2 training in Australia equips you with the skills and knowledge to effectively manage projects using the PRINCE2 methodology.
At MetaPM, our PRINCE2® Foundation and Practitioner Course delivers a comprehensive 4-day program that covers the core principles of PRINCE2, enabling you to manage projects from initiation to closure.
This PRINCE2 certification in Australia is an internationally recognised credential that validates your expertise and boosts your career prospects. By applying PRINCE2, you'll learn a structured approach that fosters better communication, risk management, and overall project success.
Become a PRINCE2 Certified Project Manager with MetaPM
Earning your PRINCE2 certification in Australia isn't just about validating your ability to use this methodology. It transforms how you approach projects.
PRINCE2 equips you with the tools and techniques to orchestrate every stage, from initiation to a successful closure. Clear processes, structured communication, and a focus on success become your guiding principles. The result? Increased project success rates and a career trajectory that soars.
Invest in yourself and become a PRINCE2-certified project manager with MetaPM. Benefit from the professional guidance of accredited PRINCE2® trainers with real-world project management expertise. View our upcoming PRINCE2 training dates and get a free quote online now.
Weekly Newsletter
Subscribe to our newsletter today to keep up to date on what’s happening.