PRINCE2 is a framework used for project management more commonly employed within the UK that is quickly gaining worldwide traction. PRINCE2 focuses on a structural approach; this encourages the division of the project and focuses on the individual components. Additionally, the PRINCE2 management style introduces strong control and minimizes potential risks.
Benefits of the PRINCE2 Method – Individuals
1. Widely Recognized:
PRINCE, the forefather of PRINCE2, was originally used for information technology-related project management. PRINCE2 was developed to further enhance capabilities and has been widely adopted not only in IT environments but has dominated a number of other industries.
Currently, the PRINCE2 examinations are available in 19 different languages to suit test takes from different countries where the system has been gaining traction. Additionally, an AXELOS global report has revealed most test takers are sitting the same from outside the UK. PRINCE2 certifications are not only recognized worldwide but are also in increasing demand.
2. Ease of Use:
Global recognition aside, the PRINCE2 framework has entered a number of industries. A virtual committee of over 150 public and private organizations across a variety of fields consult on PRINCE2. They help craft the best possible practices and agree on amendments to the system. The wide use of PRINCE2 also makes it easier to learn without needing multiple supplementary skills
PRINCE2 requires no additional components to run as needed, the system is about generic best practices. There are no software components that need to be purchased to introduce PRINCE2 into an organization. The generic nature of PRINCE2 allows for flexible project management. There are no industry or business size constraints allowing the method to be used at any corporation.
4. Tackling Uncertainty:
Professionals with a PRINCE2 accreditation are looked at as troubleshooters in organizations they are employed at. PRINCE2 allows individuals to apply lessons learned, planning, and tolerances to introduce the best possible practices and help sinking projects.
Additionally, PRINCE2 focuses only on activities that are required and help lower all-around risk. Employers find PRINCE2 practitioners exceptionally important at times of recession, dropping demand, and when taking on ambitious projects.
5. A Strong Starting Qualification:
PRINCE2 is a strong jumping-off point to learning and understanding an efficient method of project management. The fundamentals ensure professionals at any experience level are able to introduce a flexible and adaptable approach to better internal management that also integrates swiftly into other management principles such as agile.
Benefits of the PRINCE2 Method – Enterprises
1. Best Possible Practices:
The PRINCE2 framework insists on the best possible principles and practices introduced to an organization. The structure of PRINCE2 is to optimize internal activities while ensuring there is no unnecessary waste and minimized risks. For an organization to implement the same would offer a maximum reward with minimized negative side effects.
For larger-scale organizations running multiple subsidiaries in different industries, the generic nature of the PRINCE2 framework means an application is not only possible but, when done correctly, successful. The versatile nature helps businesses implement a uniform strategy across subsidiaries of any size and helps maintain order while running multiple businesses.
PRINCE2 has a clearly defined structure that consists of roles and responsibilities. If there is a breakdown in the project process, responsibilities can be traced directly to the individual in charge making it easier to remedy. Additionally, if there is confusion for any reason around delegation or execution, a quick reference back to the PRINCE2 structure helps clarify any doubts and offers a clear chain of command.
4. Output Centric:
For businesses, the quality of output must be pristine in order to hold up standards and reputations. The PRINCE2 method is strongly output oriented. This means the system was crafted to ensure the organization is able to reap the maximum benefits possible from the created output. This management style could be the difference between staying ahead of the competition or lagging behind.
The PRINCE2 structure does not depend on daily meetings but rather on reporting. With the clear structure provided by the framework, there is minimal time invested in figuring out where to go and what to do. In turn, this helps keep senior management focus on higher priority tasks while the rest of the operation runs smoothly.
Stakeholders play an integral role in any organization. Their opinions and feedback help businesses understand where efforts need to be focused and how to stay goal-oriented throughout the project. The PRINCE2 system continuously involves stakeholder feedback in the decision-making process ensuring complete transparency across all individuals involved in building the organization.
PRINCE2 Foundation certifications and PRINCE2 Practitioner certifications can be an extremely lucrative and valuable investment for both professionals and organizations. The PRINCE2 certification adds stronger value to project management making individuals accredited with the same more likely to find better employment opportunities than their non-certified counterparts. At Spoclearn, we not only offer PRINCE2 certifications.