Everything about PRINCE2 Certification for Project Managers

PRINCE2 or Projects IN Controlled Environments is a structured project management method, PRINCE2 and certification program for practitioners in the methodology who are accredited, qualified through training. PRINCE2 divides projects into manageable and controllable stages.

PRINCE2 was initially developed as a UK government standard for Information Systems projects. AXELOS is the current owner, and is a joint venture by the Cabinet Office and Capita, with 49% and 51% stakes in the venture respectively.

PRINCE2 is not a waterfall methodology or a universal solution; however, it is a project management framework that can easily be tailored to any size or type of project. PRINCE2 is a principles-driven project management methodology. PRINCE2 is based on seven principles, seven themes and seven processes.

The seven principles are:

1. Continued Business Justification
2. Learning from Experience
3. Defined Roles and Responsibilities
4. Manage by Stages
5. Manage by Exception
6. Focus on Products
7. Customize to Suit the
8. Project Environment

The seven themes are:

1. Business case
2. Organization
3. Quality
4. Plans
5. Risk
6. Change
7. Progress

The Seven Processes are:

1. Starting up a Project (SU)
2. Initiating a Project (IP)
3. Directing a project (DP)
4. Controlling a stage (CS)
5. Managing product delivery (MP)
6. Managing stage boundaries (SB)
7. Closing a project (CP)

PRINCE2 software is best known for its non-proprietorial guidance for any project management which not only enhances the overall project security but also improves organizational sustainability and capability across various fields like IT, research, product development and construction. PRINCE2 enables the documentation and analysis of project issues at the right at the planning stages. It is the broadly practiced standard in regions of Europe and United Kingdom which imparts best possible subject knowledge on aspects such as business case, quality, scope, cost, time, along with the risk and benefits.

PRINCE2 Foundation is the fundamental level of PRINCE2 certification level that enhances the skills needed to manage the projects and handle risks efficiently.

Key features of PRINCE2 include:

• Laser focus on business justification
• Product-based planning approach
• Well-defined organization structure for the project management team
• Focus on splitting the project into manageable and controllable stages
• The Flexibility that can be implemented at a level appropriate to the project.

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How Can PRINCE2 Benefit You as an Individual?

Utilizing and implementing PRINCE2 gives you better control over project resources, and the ability to manage project and business risk more effectively. This will benefit:

• Project managers
• Professionals looking for project management skills and better employment prospects
• Directors and senior executives who are project owners and process owners
• Organisations

For professionals, this course can serve as a highly valued asset in your career as it boosts employment prospects and helps professionals execute their job more effectively. This is true for any and every job function. A 2016 AXELOS survey questioned individuals in project management and other roles, such as IT, senior management and operations and found that irrespective of function, candidates do find that PRINCE2 is invaluable to their career.

How Can PRINCE2 Benefit Your Organisation?

PRINCE2 formally identifies responsibilities within a project for organization, coupled with its focus on what a project is to deliver which will include the why, when and for whom the deliverables are intended. This will provide your enterprise’s projects with:

• A unified and consistent approach
• A controlled and well-planned start, middle and end to the project
• Timely and periodic reviews of progress against the project plan
• Assurance that the project continues to have a business justification

In a recent survey by PricewaterhouseCoopers, it has been found that higher-performing projects are significantly more probable to be staffed with certified project managers. Arras People’s 2011 survey has named PRINCE2 as the top pick out of the pool of certificates that empower high-performing projects.

The PRINCE2 report published in 2016 by AXELOS has recorded the extent of PRINCE2 adoption by various organizations and found an even extent in PRINCE2 adoption, regardless of the organization’s size. PRINCE2 is highly useful for organizations of all sizes, chiefly because of high adaptability and compatibility with the likes of agile.

Know more about PRINCE2 Training Industry

PRINCE2 Qualifications and Training

The following PRINCE2 training is available in the market: PRINCE2 Foundation, PRINCE2 Practitioner, PRINCE2 Re-Registration and PRINCE2 Agile.

PRINCE2 Foundation

This is the initial phase of PRINCE2 certification, and the PRINCE2 Foundation qualification spans the fundamental methodology and terminology of PRINCE2,

PRINCE2 Practitioner

The PRINCE2 Practitioner is best suited to those managing projects within a PRINCE2 environment

PRINCE2 Agile

Utilizing these certification professionals can learn to unify the flexibility and responsiveness of Agile methodologies right into PRINCE2 framework.

PRINCE2 Re-Registration

The PRINCE2 Examination Board has stipulated that all Registered PRINCE2 certificate holders should re-register within 3-5 years of their original certification. If the candidate fails to clear the re-registration examination, then the respective certification will be withdrawn.

Value and Benefits of the PRINCE2 methodology

PRINCE2 being a time-tested methodology helps deliver key projects benefitting stakeholders, the business and the bottom line.

PRINCE2, Saves Time

Prince2 is a distinct methodology that cuts out downtime and increases productivity greatly within an organization through the following ways

●     Standardization

Bring the most prominent benefit, this leads to everyone on the project is having a standardized approach to the work.  There will be common documentation, filing systems and procedures.  Time is saved in recruitment, training and auditing of projects.  Since all employees are on the same page with respect to processes, confusion in the enterprise in eliminated.

●     Road Map

PRINCE2 is known to be process based which means it is a step based method from conception to the end.  PRINCE2 is a time tested methodology so whatever the issue maybe, when something transpires in the project, there will be a suitable technique, somewhere, in the methodology to deal with the said issue.  Once an individual or an enterprise can place the situation in the method, the interlinked process can be chosen within the methodology to come up with a customized solution for the same. There is an element of the economy of effort here where there is lesser need to come up with highly unique solutions every time a problem arises within a project.

●     A Mature Methodology

PRINCE2 has been refined from over 30 years of development in over thousands of projects worldwide. While being time tested, updates are made every 2-3 years with a focus on best practices and suggestions from an active user community

PRINCE2 Saves Money

The aim of most organizations and individuals in an organization is to enhance the bottom line within the enterprise. PRINCE2 does this time and again through the following ways:

●     Being Business Case driven

The Business Case is the life support system for the PRINCE2 project and it must be in place, progressive, from start through the middle and right to the end of the project. If the Business Case is eliminated, then the project will be left with no justification, and will have to be stopped in its tracks.  PRINCE2 builds in compulsory updates and re-assessment of the Business Case at crucial junctions to make sure that the project is delivering something of value to the customer organization

●     Free to use

The cost to create an in-house project management method has been estimated at between hundreds of thousands to millions of dollars.  Only the largest enterprises can do this and, even so, such businesses will require spending time and money training new employees, external suppliers and partners in the enterprise’s proprietary approach.  Using PRINCE2 ensures all parties hit the ground running, without squandering any time in orientation.  As an individual and as an organization you will gain from PRINCE2’s absence of licensing fees, per seat charges, support costs and a whole lot more.

●     Front Loaded

PRINCE2 is front loaded meaning loads of effort is dedicated to making sure that the project is financially viable and worthwhile before proceeding further.  Even when this is established, further effort is dedicated to ensure that the project is properly planned, risks are considered and the customers’ requirements and quality clearly understood.  Failure or delays during the project validation and planning phase is relatively cheap compared to errors or misunderstandings which come to light in products once they have been completely built.

PRINCE2 delivers Quality and Compliance

The quality of a product or service depends will dictate how well an enterprise will do in the market. High quality can be delivered by adherence to international standards set up for the product or service by benchmarking organizations. Given below are ways by which PRINCE2 delivers Quality and Compliance:

●     Product Based Planning (PBP)

Product Based Planning is usually the start of most PRINCE2 schedules and plans.  During PBP precise and accurate Product Descriptions are generated to decide and state the composition, quality and checking arrangements for project outputs or products.  Product Descriptions supply a benchmark for all deliverables and form the basis of management approval and production and quality checking.  Product Based Planning permits all members of the Project Team to work alongside each other to deliver quality products 

●     Controlled Change

Change can introduce chaos to a project but change in a project is a periodic eventuality.  PRINCE2’s approach to change provides for the capture and analysis of all project issues.  Decision making is made at the appropriate level, and documented clearly by enterprise staff.

●     Defined Roles and Responsibilities

Written role descriptions list the responsibilities of every member of a PRINCE2 Project Management Team. To facilitate all team members to comprehend their responsibilities, this is carried out before the project even begins.

●     Improved Compliance

The PRINCE2 Method can be mapped to other compliance and quality standards such as ISO or SOX. PRINCE2 can form part of a corporation’s comprehensive Quality Management System.

Conclusion

PRINCE2 is recognized as the gold standard in project management certifications worldwide for both individuals and organizations. Project managers taking up this certification can be assured of a sustainable and highly lucrative career in Project Management with bright prospects for career advancement. PRINCE2 enables everything from streamlining project processes and increasing compliance to clearly defining roles and responsibilities and introducing controlled change and product based planning. It can be concluded that taking up the PRINCE2 certification assures both individual and organizational stability and success

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