PRINCE2 is a structured project management method to initiate, plan, execute, control and close the work of a team to achieve specific goals and criteria within a specified time. PRINCE2 emphasizes dividing projects into manageable and controllable stages that can be completed a bit at a time. A PRINCE2 certification indicates to an employer that the holder has enough knowledge and understanding of the PRINCE2 method to be able to work in a project team running the PRINCE2 method. Higher levels of PRINCE2 certification indicate that the holder understands PRINCE2 methodology sufficiently enough to be able to apply PRINCE2 methods to situations during the life of a project that requires it.
A PRINCE2 certification provides the skills required to make a holder confident when managing projects. It implements common language, systems and procedures to allow the holder to recognize risks and know how to control resources to balance the risks and rewards of managing a project. The implementation of a common, consistent approach into a project’s management philosophy that is understood by all members of the project team is essential in ensuring a consistent result and an organised environment in which the project can be completed. PRINCE2 creates an environment compliant with itself so that all decisions made by all members of the project team will work towards the end goal of completing the project successfully with the least amount of risk possible and the least amount of friction between stakeholders.
PRINCE2 is an important part of projects because of its simplicity and the way it helps a project be completed in a logical and systematic way. It improves communication between team members as well as improves communication between the team and external stakeholders so that stakeholders have a chance to take a decision-making role during the progression of the project. PRINCE2’s flexibility is also important as it allows the methodology to adapt to the circumstances of a project, such as its size, time capability, complexity, importance and most importantly, risks.
PRINCE2 is an adaptable project management method designed to be integrated into a project team from start to finish that provides a clear platform for team members to make decisions with and in doing so, improve communication between the team members. The benefits of improved communication also apply to the relationship between the project team and stakeholders so that both team and stakeholder can work hand in hand. With everyone involved in the project sharing a common philosophy, transparency and logical decisions can be made easier, to streamline the process of completing a project successfully.