Prince2 is known to be an effective method in project management having a proper procedure. Almost all the leading and top enterprises around the world have been taking in project management as a trusted mechanism to control business expenditure and achieve amazing outcomes. The business executives came to the conclusion that successful project management schemes eventually help in minimizing cost and enhancing the success rate. A survey by McKinsey & Co stated that around 60% of companies hired in the project management discipline on a prior basis. There is a dire need of a reliable project management software, I.e.Prince2 project management software.

Discovering Prince2 Project Methodology

Prince2 is a process based methodology for project management. It clearly distributes the responsibilities like who should be working in the project and their roles. Prince2 works in a proper way and initially collects all the information required for a project. This method is considered a de-facto standard in the UK for project management and it is practiced worldwide.

Prince2 Training

Most of the companies or organizations who want to go for Prince2 project management methodology, start with its certified training. Training is very important as it helps to judge the complex system and its multiple processes and phases. PRINCE2® provides ample knowledge to everyone involved in the project about how to manage understanding its terminologies.

Prince2 a perfect fit for all projects

Prince2 by nature is compliant and adaptable to almost all types of projects. It could be suitable for both long term and short term project management by carefully applying into project management methodology.

Prince2 application at your workplace

Any organization might require the help of applying Prince2 if :

1It is going to use Prince2 for the first time in its organization or team

2 The organization has already implemented Prince2 but the organization was unable to fully realize its business benefits

3 The company or business want to make sure that they are Prince2 compliant means they are using the Project, Programme and Portfolio Management Maturity Model.

4 The businesses are concerned to get official approval for its project management methods.

The application of Prince2 could be done as a project- completed by a number of organizations. Here is also an alternative in the form of Prince business mentor/coach. It comes with a clear objective of ensuring the fixture of Prince2 concepts. These concepts were learned during the training session to impart all the skills in the workplace.

Prince2 Mentors

Prince2 mentors are specialized in assisting the organizations in management field required to implement Prince2 successfully. They are fully skilled to provide guidance and support in the process of Prince2 implementation. They offer a perfect combination of coaching, mentoring and training. They also conduct one to one sessions for individuals to help them grow in their new role, instructing them through workshops or communicating through emails or telephone.

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Prince2 features for project management

The PRINCE2® Foundation & PRINCE2® Practitioner Exam is an introductory course in PRINCE2 project management specialization. If you’re able to complete this course, you’re sure to have gained enough knowledge regarding the methods to effectively carry out any project within the framework of PRINCE2. In addition, you would have familiarized yourself with the basic terminologies and methodologies of the PRINCE2 system. Irrespective of your previous knowledge in project management, you can begin the journey of expertise in project management with the foundation level.

Prince2 has an individual role to play in every project. Its management side is not the same for construction and design features, but it can be customized according to requirements. The combination of all these features results in a perfect system for multiple projects. Here are the four main elements which are potent in creating the structure of Prince2 project management:

1 Principles

2 Project Environment

3 Processes

4 Themes

How Prince2 benefits in project management

The future of Prince2 as promising software in project management looks bright enough. It offers the following benefits:

1 Being an intuitive software in project management, Prince2 is very helpful in understanding the past performance of the company, eliminating the certain drawbacks and ultimately leading to implement new practices.

2 It is also very helpful in suggesting effectively the available resources regarding time and money.

3 It makes good decisions for the company after consulting the trainers and expert project managers

4 It also tackles efficiently the various issues of businesses and project and produces progressive results.

5 It provides continuous support and targets to achieve a steady project standing

Prince2 Project management roles

The Prince2 has a special methodology to organize some particular roles in the delivery of the project within budget and time

1 Project manager

A project manager in Prince2 has the responsibilities of assigning work, making plans ensuring the best possible quality and ensuring the work to be completed within a time frame. These responsibilities are quite similar to the responsibilities of the project manager in other methodologies of project management. The only difference is that a project manager in prior is bound to report about the project status to Project Board. The Project Board comprises of representative of Customers, Users, and Supplier. The Project Board is also responsible to deal with any hurdles pointed out by the manager.

2 Customer

It is the body who pays for the project

3 User

The party who benefits from the outcome of a project.

4 Supplier

This is the body responsible to produce the project outcome. It could be called a specialist.

Chronological steps of Prince2 to project management

These are the important steps in Prince2 leading to project management:

1 Starting Up

This is the first step before the commencement of project approval. It includes planning and predicted decisions important for the process

2 Project Direction

This stage is mainly the responsibility of the project board. They authorize, the project proceeding or close up.

3 Project initiative

After deciding the process of a project, the project manager takes the responsibility of getting most of the tasks done. This process includes team selection, defining roles and responsibilities, a budget, project plan, etc.

4 Controlling

It includes measuring the project progression

5 Product delivery management

A project manager is responsible for this stage

6 Managing stage boundary

During this stage, the whole process is   and the approval is sought to proceed for the t stage

7 Project Closing

This task is usually performed by the project manager. He wraps up all the process.