In this guide, we\u2019ll go through the PRINCE2 structure in detail and compare the PRINCE2 exam to the widely popular PMP (Project Management Professional) exam.<\/p>\n\n\n\n
You\u2019ll also read about how the University of Western Australia Library<\/em> improved its performance with PRINCE2, and find some interesting expert insights on the topic.<\/p>\n\n\n\n So, keep reading.<\/p>\n\n\n PRINCE2 is a project management methodology<\/a>, and its name is the acronym for PR<\/strong>ojects IN<\/strong> C<\/strong>ontrolled E<\/strong>nvironment (Version 2).<\/p>\n\n\n\n The PRINCE2 method originates from a 1970s private sector framework called PROMPT. <\/p>\n\n\n\n Back then, a British government agency licensed PROMPT for use in government IT projects. <\/p>\n\n\n\n Not long after, the agency fully implemented the adjusted PROMPT II module and named it PRINCE.<\/p>\n\n\n\n In 1996, a more generic version came out. It was also applicable to both non-IT and small-size projects, and it was called PRINCE2.<\/p>\n\n\n\n Today, PRINCE2 and PRINCE2 Agile are registered trademarks of AXELOS.<\/p>\n\n\n\n As explained in one of the official PRINCE2 manuals, Managing Successful Projects with PRINCE2 (2017 Edition)<\/em><\/a>,<\/em> PRINCE2 is an integrated method of principles, themes, and processes that addresses the planning, delegation, monitoring, and control of all 6 aspects of project performance, including:<\/p>\n\n\n\n The manual also highlights that in order to keep control over the project, there should be a project manager<\/a> who plans out the entire project using PRINCE2, so as \u201cto make the right information available at the right time for the right people to make the right decisions about the project.\u201d<\/em><\/p>\n\n\n As outlined in AXELOS\u2019s white paper PRINCE2 in 1000 Words<\/em> by Andy Murray, some of the PRINCE2 advantages are that it:<\/p>\n\n\n\n Furthermore, AXELOS\u2019s Effective Project Management whitepaper<\/em> outlines that PRINCE2 benefits individuals by:<\/p>\n\n\n\n In search of more PRINCE2 benefits examples, we consulted Pranav Radhakrishnan<\/a>, Operations, Standards, and Strategy Director at a global pharmaceutical company, Novartis<\/em>. <\/p>\n\n\n\n As an expert with the Six Sigma Black Belt<\/a> and Lean Six Sigma Master Black Belt, Pranav believes that PRINCE2 facilitates the selection of innovative ideas that are in line with organizational goals and available resources:<\/p>\n\n\n\n \u201cPRINCE2 captures the essence for analyzing various innovative ideas and approving them based on organizational goals and available resources\u2026 What PRINCE2 embodies at its core is that it encourages new ideas to come forth and rewards the best idea with approval.\u201d<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n Pranav also highlights the benefit of PRINCE2 work packages <\/em>(i.e. the set of information relevant to the creation of one or more products):<\/p>\n\n\n\n \u201cIn the modern day world, where teams are decentralized due to hybrid and remote work, PRINCE2 offers guardrails where a comprehensive plan is broken down into smaller work packages.\u201d<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n As we\u2019ve already mentioned, with PRINCE2\u2019s clear organizational structure, there\u2019s no confusion about who\u2019s doing what at any time during the project.<\/p>\n\n\n\n Now, let\u2019s take a closer look at each of the PRINCE2 roles and responsibilities. <\/p>\n\n\n\n Corporate, program management, or the customer <\/strong>appoints the executive and possibly the project manager. This body is responsible for:<\/p>\n\n\n\n The project board<\/strong> is responsible for the project\u2019s success and serves as a communication channel between the project team and external stakeholders. The project board is made up of: <\/p>\n\n\n\n Project assurance<\/strong> covers the primary stakeholder interests (business, user, and supplier). The role must be independent of the project manager.<\/p>\n\n\n\n Change authority<\/strong> is an optional role and is responsible for reviewing and approving or rejecting all change requests.<\/p>\n\n\n\n The project manager<\/strong> takes direction from the project board and the executive. They have the authority to run the project on a day-to-day basis and ensure that the project produces the desired results within the specified tolerances.<\/p>\n\n\n\n The team manager<\/strong> manages project team members and reports to the project manager.<\/p>\n\n\n\n Project support<\/strong> \u2014 sometimes referred to as the project management office (PMO)<\/a> \u2014 serves as administrative support to the project team, e.g. in helping with project management software, guidance, and administrative services. Its formal implementation is optional, depending on the project size and environment. <\/p>\n\n\n The PRINCE2 methodology is built on several universal principles that help PRINCE2 practitioners shape the project they\u2019re managing. <\/p>\n\n\n\n Here are the 7 PRINCE2 project management principles as listed in Managing Successful Projects with PRINCE2<\/em>:<\/p>\n\n\n\n Let\u2019s take a closer look at each of these principles.<\/p>\n\n\n\n In PRINCE2, the first principle outlines there needs to be a justified reason for starting a project in the first place. <\/p>\n\n\n\n Also, the justification in some form of a business case needs to be recorded and approved. That justification should be reviewed repeatedly throughout the project.<\/p>\n\n\n\n According to Managing Successful Projects with PRINCE2<\/em>, learning should be a continuous process that happens in 3 phases:<\/p>\n\n\n\n Keep in mind that the lessons learned<\/a> are the ones that drive change, otherwise, they remain merely the lessons identified.<\/p>\n\n\n\n A clear project management team structure is one of the prerequisites for project success. <\/p>\n\n\n\n This implies that all people involved in the project have defined roles and responsibilities and that there\u2019s an effective communication flow among them.<\/p>\n\n\n\n Further, all stakeholder interests need to have a representation within the project management team, which includes the 3 primary stakeholders:<\/p>\n\n\n\n PRINCE2 projects are broken down into project sections called management stages. <\/p>\n\n\n\n The number of stages depends on the project’s complexity, but all projects must have at least 2 stages, including:<\/p>\n\n\n\n Managing by stages allows better control over the project\u2019s progress.<\/p>\n\n\n\n To understand this principle, we\u2019ll first need to clarify the term exception<\/em> in PRINCE2. <\/p>\n\n\n\n An exception is a situation that goes beyond the tolerance levels that the project manager and the project board have previously agreed upon, in terms of: <\/p>\n\n\n\n So, if there\u2019s no deviation from the previously agreed-upon tolerance levels, the project manager won\u2019t need to notify the project board. <\/p>\n\n\n\n In cases of exceptions, one management level must immediately notify the next management level. <\/p>\n\n\n\n This practice helps establish clear management authorities and boundaries and prevents burdening senior management with lesser issues that would needlessly take up their time.<\/p>\n\n\n\n In PRINCE2, project outputs, or deliverables<\/a>, are referred to as products<\/em>, and the focus should be on the quality requirement of these products. <\/p>\n\n\n\n The focus on product principle has the following purposes:<\/p>\n\n\n\n Being a universal project management approach, PRINCE2 aims at tailoring to fit each project\u2019s specific needs based on the following factors: <\/p>\n\n\n\n The tailoring principle allows PRINCE2 to be used in any project, regardless of its:<\/p>\n\n\n\n \n Tailor your workflow to suit your needs \u2014 let the tool work for you. Try Plaky.<\/p>\n\n Themes in PRINCE2 represent the 7 aspects of project management that you should continually address throughout the project lifecycle.<\/p>\n\n\n\n All themes are interrelated, and each answers certain questions regarding the project:<\/p>\n\n\n\n![\"PRINCE2](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/05\/PRINCE2-project-management-cover.png\")
<\/figure>\n<\/div>\n\n\nWhat is PRINCE2 project management?<\/h2>\n\n\n\n
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![\"PRINCE2](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/05\/PRINCE2-PM-methodology-1.png\")
Benefits of PRINCE2 project management<\/h2>\n\n\n\n
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![\"Pranav](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/05\/Pranav-Radhakrishnan.jpg\")
<\/figure>\n<\/div>\n\n\n\n<\/figure>\n<\/div>\n\n\n\nPRINCE2 roles and responsibilities<\/h2>\n\n\n\n
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![\"Roles](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/05\/Roles-and-responsibilities-in-PRINCE2-1.png\")
7 PRINCE2 principles<\/h2>\n\n\n\n
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Principle #1: Continued business justification<\/h3>\n\n\n\n
Principle #2: Learn from experience<\/h3>\n\n\n\n
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Principle #3: Defined roles and responsibilities<\/h3>\n\n\n\n
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Principle #4: Manage by stages<\/h3>\n\n\n\n
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Principle #5: Manage by exception<\/h3>\n\n\n\n
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Principle #6: Focus on products<\/h3>\n\n\n\n
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Principle #7: Tailor to suit the project environment<\/h3>\n\n\n\n
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Free project management software<\/h2>\n
![\"Illustration\"](\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/landing-3@2x.png)
\n <\/picture>\n <\/div>\n<\/div>\n <\/p>\n\n\n\n7 PRINCE2 themes<\/h2>\n\n\n\n
![\"PRINCE2](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/05\/PRINCE2-plans-correlation-1.png\")
![\"Example](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2024\/02\/Example-of-Kanban-in-Plaky.png\")
![\"Illustration\"](\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/landing-4@2x.png)
\n <\/picture>\n <\/div>\n<\/div>\n <\/p>\n\n\n\n![\"Plaky](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2024\/02\/A-single-project-in-Plaky.png\")