Project management with PRINCE2

Last Updated on March 2, 2024 by Nadeem Ahmed

Project management is a conceptual field that helps the team members and the organization manage projects in the desired manner and to the required time limit in an optimum manner. It requires some practical understanding of project management, project team and project processes to develop skills at project planning and conducting. As on a PRINCE2 Weekend course.

Project management with PRINCE2 process begins with a project charter, define and define the scope of the project and set up the deliverables. The project charter specifies the responsibilities of the project team, delineates the time period allocated to complete the project tasks, states what is to be delivered, what quality requirements are to be met, what data would be required, describe constraints of resources, what project management tools are to be used to ensure the success of the projects.

Project planning is the second step, it describes the project timeline and forms the foundation for the projects. It is the only process that guides project team members about the overall mission of the project and the specific roles, responsibilities and deliverable required to complete the project. It lines up with the solution’s expected cost and time frame. It helps team of project leader and his project team in understanding the problem, the process of problem solving, generate alternative solution options and determine corrective actions to overcome problems.

Project team is the third step, it defines the total project team required to execute the project plan. It takes care of issue of the resources needed by the project team to complete the project tasks within a predetermined period of time. The project team members to the project need to understand the risks and constraints of the problem solving through it.

Project processes are the required processes to complete the projects in an efficient manner. The team plans, responsibilities, and structure emerge into tools and management system that takes care of project team, work, and process integration process effectively. They help in resolution and control of issues and Startup the project team.

The subtle manipulations of processes result in multiple process to solve a single, complex problem, thus making the process process a dynamic process hence resulting in a process control system. The processes are well guided ensuring the close monitoring and control of all phases and solutions. Project management software assists project managers in tracking and initiating important and critical information as well as the team performance.

Budgeting process is the fourth step of project management, it is the process in which project Costs are determined, measured and analyzed to determine initiating expenses, budgets and details all the costs, specify assets, determine the needed source of Finance and predict expenditures for the remaining period of time and the needed and expected start date.

The body or management takes over managing resources, determines none core activities, and establishes the preferred and the due dates of the projects to execute in the manner in which they had been determined ready to achieve them.

Read more: PRINCE2 project management – a big topic

The fifth step is project monitoring which generates system generated reports on a proforma basis to evaluate the performance of projects in executing the processes. It shows if in terms of resources, people, scope, follow-up or Microsoft Project reports, project performance has been met.

The concentration of specific information and its analysis lead to the decision making process. It defines how to select the processes required to support future projects, and an in-depth understanding of complex issues is developed through this step.

Monitoring the monitoring the project management software systems, then monitoring process monitoring, and control of all phases is the fifth step, finally project monitoring systems gives a comprehensive understanding of the processes involved in the project and directs the necessary corrective measures.

Apart from that, if you are interested to know about All Project Managers need to manage correctly then visit our Business category.