Last Updated on August 10, 2024 by Ali Hamza
A project is a temporary effort undertaken to meet critical business needs. Business needs can only be satisfied by meeting market or organizational objectives. PRINCE2 Project Manager helps you to meet your business needs. Unlike a for-profit enterprise, there are no shareholders to meet and a stakeholder to look after. Shareholders are shareholders; they own a piece of a company, but they also have a stake in the company’s success. Stakeholders must set goals and efforts toward achieving those goals without interference. As can be found on a PRINCE2 Foundation training glasgow.
Projects have three phases: initiation, development, and evaluations. An initial project usually initiates when a business needs are apparent and a need or a problem is identified. A need or problem must be present to determine the solution. A project provides a temporary solution to meet business needs and open the door for similar projects in the future. A few ideas for finding a need are:
Business expand, reconfigure, expand, or redefine markets, products, and services. These types of projects have multiple phases and usually precede the analysis or evaluation phase. In these types of projects, a core team is established to direct planning, development, and analysis for both the initial and subsequent phases. Core team composition is not necessary, but it is helpful, particularly when there is a need to be involved in a process during the exploration, execution, and evaluation phases. The team should consist of persons with technical knowledge in the work area, representatives from the business (if it is a non-profit), and a passionate advocate for the project. It is also beneficial to have a High Probability Champion (HP) in the project. This is a senior impact player in the central team who leads actively, shares the Load, and provides the support required to keep the team going.
Project development involves both the initiation and resource allocation phase. Involving the appropriate resources early in planning provides more ways to get what you need. If resources are not successfully assigned, complete resources exist, but they are not ready to get started when needed. If resources are not driven (resistant) to help the organization achieve goals, there needs may be no viable resource set ever developed.
The core team and resource allocation phase also includes the key aspects of project success: internal and external business solutions (internalization and externalization), knowledge transfer, adoption (listening to the business), and product recommendations (marketability, enterprise intelligence, opportunities). Internalization refers to the transfer of knowledge between the organization and having it shared to the business community. This is information and knowledge from the business that is directly usable by the organization’s basic business functions. This information may be the information that is used as a foundation by IT and implemented through such things as producing user manuals, training, guides, and documentation for any end-users. Externalization refers to the process where the organization uses that knowledge to implement a new business solution, product, or service with increased success. This “return of investment” is the main focus of the internalization and externalization phases. Becoming skilled in an organization’s way of doing business is key to success but it does not happen overnight. It takes time and commitment to achieve strategic, cultural, and technical alignment on all levels. The benefits of a strong internal or external relationship are well worth the time and effort required.
Another key business function for which it is imperative to be successful is the monitoring of progress and problem resolution. This phase brings together the core team and the project resource allocation team. This is the point where project vision is expanded and implementation is initiated. At any point in the process, an organization’s planning environment must be set in place and functioning well. Monitoring and controlling of the project is often a “make or break” opportunity.
The evaluation phase is where everything is assessed and measured for the project to determine its potential with the business. This includes: quality, cost, time schedule, and technology. Quite simply, if the organization has at least one of every comes with their concept and the business is able to utilize it, there is a good chance that the project will be successful.
All of the things listed above must be well-managed because they lend themselves to different problems. Management is the key to obtaining more while securing success in any and all phases of a project.
The project team must be properly assigned, trained and motivated.
The technology used (cost) must be appropriate for the business to use (cost).
The cost (time including labor labor) must be reasonable and appropriate.
The time line is where a Prince2 project manager must always be diligent for the time line or the project stinks.
The personnel involved in the project (entry level – steady) must be chosen and properly trained.
There is no fail-safe key to project success. This is why an experienced PR could be beneficial to the organization
Integration of multiple disciplines ( matrix management)
Simplify attendance of personnel
overflowing time lines
igated partnerships with virtue ( streetsires).
Apart from that, if you are interested to know about Agile Project Management in context then visit our Business category.
