Managing and Delivering Successful Projects with PRINCE2

Project managementc is responsible for converting concepts and ideas into reality, thus enabling a ompany to inch closer to higher revenues, garner better customer support, and enjoy a stronger hold in the market. Having reliable software to back project management is important. This is where
PRINCE2 comes into the picture. Managing and delivering successful projects have become simpler with its help.

PRINCE2 is a process based model that is fast becoming a favourite of most managers in diverse kinds of organizations globally. It helps them in managing their projects more efficiently and effectively. This greatly recognized
tool ensures that all available resources are used and optimized properly; within the constraints of pre-defined budgets and timelines for warranting successful results.

PRINCE2 supports all
management projects. Though there are many stages involved for the successful completion of a project, the major ones are broadly classified into eight main categories.

Eight Stages to Success:

Starting Up a Project (SU):

This is the first stage for managing and delivering a successful project with
PRINCE2. It ensures that everything you need for a project is in place, before you initiate the same. The project should be well-defined with a project mandate that states the reasons for starting the project, expected results, and the product that is required at the end. The most qualified team has to be appointed at this stage itself.

Planning (PL):

This stage is where one can make or break a project. To trigger off the planning stage, product identification has to be done, followed by meticulous analysis. Suggestions for the betterment of the project or changes required in the existing plan have to be done now. Once this stage is completed, the team has a good idea of the resources, effort and time that needs to be put in. Thereafter, the relevant plan formats have to be finalised at the earliest. This sets the base for the remaining stages.

Initiating a Project (IP):

PRINCE2 methodologies lay down the foundation for fulfilling the targets and standards set by the previous two stages. The aspect of quality control is taken care of at this stage and all pre-determined project controls are set up. Here, the team has to prepare project files and initiate the documentation procedure. The
project plan is kick-started to give shape to the processes that will yield results in future.

Directing a Project (DP):

The
project board and the management team are responsible for this stage. The guidance terms are covered and adhered to and key decisions are made; so that they are relevant for the entire life of the project. Necessary authorisation work is carried out and a back-up or a fail-safe plan is devised too. This proves to be important in case of any failure or unforeseen circumstance that has the potential to stop the project mid-way.

Controlling a Stage (CS):

Every project has many stages operating at the same time. It is necessary to ensure that these stages are monitored periodically (and individually) to ensure that everything is smooth-sailing. All the
PRINCE2 activities should be controlled and unexpected events should be addressed immediately. Tasks like reviewing stage status, planning corrective actions, reporting/ reviewing the completed work, and so forth, are also parts of this stage.

Managing Product Delivery (MP):

As the project closes in on the delivery date, this stage looks after the delivery aspects--as expected by the company. It accepts and executes the results achieved by all previous stages.

Managing Stage Boundaries (SB):

Every stage needs to be initiated and completed properly. This stage defines the start and end points of the earlier stages and the various processes involved between them. It lists down the achievements of the current stage and plans the next one. It maintains log files and produces vital information; with the help of which the management team can take key decisions on how to take the project ahead.

Closing a Project (CP):

Lastly, the CP stage is responsible for decommissioning the project once it is completed successfully. After this, the concerned team evaluates the results and notes down the progress of the project for further references.

Succeeding Every Single Time:

The above mentioned processes give a defined structure to the project
management stage and allows for
successful application of PRINCE2. Once its methodology and processes are defined well and implemented properly, successful projects can be delivered--every single time.