The Prince2 project management methodology is owned managed and distrusted by Axelos Ltd a global best practice standards organisation. Consider Axelos as the institution for Prince2.
According to the recently published Axelos PPM Benchmarking Report 2019, project managers are facing multiple challenges in their day-to-day roles. Accordingly Prince2 is becoming more important than ever when we examine some of these key challenges and how PRINCE2 can help.
1 – Under pressure to do more with less
Increased efficiency through the structured approach and tools to manage cost, risk and the scheduled delivery. Prince2 enables project managers to plan, manage and deliver projects efficiently. A tailored approach specific to the project shows that Prince2 is scalable, flexible, repeatable; ensuring the appropriate amount of planning, control and governance is applied.
2 – Limited resources
Alignment with business objectives results in resource and investment being optimised through continual realignment with business objectives, ensuring continued business justification. This is particularly useful if a limited resource is used effectively.
3 – Organisational approaches to project management
Manage change effectively. Prince2 provides the structure and governance to initiate, manage and deliver change within an organisation. In addition, it mitigates risk through managing by stages. This enables risks to be raised and resolved in a timely manner.
4 – Poor communication
Improved communication within teams and with stakeholders. The roles and responsibilities of Prince2 reduce the chances of poor communication. In addition, Prince2 enables collaboration – it ensures a common language and approach across the project team and organisation.
5 – Meeting stakeholder and customer expectations
Improved communication with stakeholders and customers The roles and responsibilities of Prince2 ensure that the customer, supplier and operational interests are identified and represented.
The importance of senior management
The importance of effective senior management is a key contributor to project success. As a result of this and to support businesses further, AXELOS has developed a directing guide that covers the questions frequently asked by people who sponsor or direct projects. Alas, these senior managers tend not to attend Prince2 training courses but have a key input into the project making key decisions on resourcing and excising control over the general direction of the project.
Driving business change through successful projects
The Axelos latest research report The Power of Professional Certification has shown that achieving certification instils confidence in the individuals and allows them to perform at their best. The report also states that decision-makers and end-users place a high value on PPM certification, and this is expected to be in high demand over the next two years and beyond.
Prince2 provides individuals and organisations with the most effective practical guidance and endorsement of acquired knowledge to develop skills and processes. This will support them to succeed in transforming their business.