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PRINCE Aspects and Appropriateness of Project Management

ITSU 2006 Project Management Assignment Research Report Guideline

Referencing Guide 

A guide to referencing sources used in assignments • All sources used in assignments, essays, reports and theses must be acknowledged in the text of your document giving the author’s name followed by the publication date (these are called ‘in-text citations’) • A ‘bibliography’ or ‘reference list’ at the end of your document contains the full details of all the intext citations, arranged alphabetically • Referencing is necessary to avoid plagiarism, to verify quotations, and to enable readers to identify and consult any item to follow-up a cited author’s arguments

Referring a Book 

The details required, in order, are: • name(s) of author(s), editor(s), compiler(s) or the institution responsible • year of publication • title of publication and subtitle if any (all titles must be underlined or italicised with  Victorian Institute of Technology Pty Ltd ITSU2006 – Project Management • sentence style capitalisation as below) • series title and individual volume, if any • edition, if other than the first • publisher • place of publication • page number(s) if applicable

Referring an Article 

The details required, in order are: • name(s) of author(s) of the article • year of publication • title of article, in single quotation marks and sentence style capitalisation as below • title of periodical (underlined or italicised with headline style capitalisation as below) • volume number • issue (or part) number • page number(s)

Referring Electronic Sources 

This could include sources from full text compact disk products, electronic journals or other sources from the Internet. The basic form of the citations follow the principles listed for print sources: • name(s) of author(s) or the organization responsible for document, web page or site • year of publication of document, creation of page/site or date last revised • Note: if you cannot establish the date of publication, use n.d. (no date) • title of document or page, if applicable • edition, if other than first • type of medium, if necessary • name and place of the publisher, sponsor or host of the source • date item viewed • web page or site address, or name of database on internet (if applicable)

Answer

INTRODUCTION

The term project management can be defined as systematic process of planning, resource management, determination of time limit, identification of schedule of activities and etc. for attainment of certain objective. Apart from that a process of project management is deemed as as systematic application of knowledge, certain set of skills, tools and tactics in order to meet the project requirements. In the process of project management, wide range of activities and tactics are considered by project manager for accomplishment of project as per predetermined plan. The methods used for project handling may be varied in different context (Bentley, 2012). Therefore, the project goal is identified as most important element of project planning process along with selection of different tactics for completion of a certain task with a best possible manner. In the process of project management, PRINCE 2 is termed as most effective method of project planning. The term is elaborated in the form of Projects In Controlled Environments (PRINCE2. This approach was evolved with distinct name which is called Project Resource Organization Management Planning Techniques (PROMPT II). But, Central Computer and Telecommunications Agency (CCTA) has applied this system for managing wide range of information system projects with reference to UK Government standard in 1989. Therefore, this method is renamed as “Projects IN Controlled Environments”. This tactic of project planning has been found very effective for handling wide range of tasks either for long duration or short duration (Tuttle, 2012). This report presents different aspects of PRINCE 2 approaches such as methodology, advantage and disadvantage, application in wide range of short and long term projects etc. This report also determines the appropriateness of PRINCE 2 approach of project management in comparison of other methods of project handling.  

History

The method, PRINCE2 was established in the year 1999 by the Central Computer and Telecommunications Agency (CCTA, renamed as the Office of Government Commerce (OGC). In the year June 2010, the Government Commerce Best Practice Management functions moved into the Cabinet Office. PRINCE was originally based on PROMPT, a project management method that was created by Simpact Systems Ltd in the year 1975 and was adopted by the OGC in the year 1979 as the standard method that would be used as the information systems projects by the Government. When PRINCE was launched in the year 1989, it was capable of superseding PROMT within the projects undertaken by the Government. Even in the present world, PRINCE remained and serves in the public domain and the copyright of the same had been retained by the emperor or the crown of the United Kingdom.  In 1996, PRINCE2 was published and had been contributed to the corporate trust composed of about 150 organizations in Europe

PRINCE2 METHODOLOGY

PRINCE2 system is not like to others tactics of project management which follow a predetermined structure but this system can be customized with reference to size or sort of project requirement. PRINCE2 methodology consists four distinct elements such as Core principles, themes, processes and the last one is tailoring (Cooke, 2016). The evaluation of these terms is mentioned below: 


  • Core Principles: This section determines seven principles which play important role in overall project efficiency. These principle are determined below:
    • Regular business justification.
    • Generation of understating from past experience.
    • Optimum determination of roles and responsibilities.
    • Selection of optimum stages.
    • Determination of resources as per the exception.
    • Focus on final output
    • Development of an appropriate project environment.
  • Themes: According to this section, project manager is able examine different aspects of project to get ensure about success of overall task. It includes quality assessment, evaluation of risk factor, needs of change and progress evaluation (Tuttle, 2012).
  • Processes: It determines different stages of project for timely completion of different activities as per predetermined schedule:
    • Starting Up a Project.
    • Initialization a Project.
    • Provide direction.
    • Controlling section
    • Assessing the Product Delivery Schedule.
    • Evaluation of project outcomes.
    • Final winding up.
  • Tailoring: It is the last section in which project manager determines the best strategy for Project Management for ensuring optimum project control. It includes analysis of terms and conditions, project outcomes along with allocation of role and responsibilities.

Prince 2 Agile

It is considered to be the most reliable solution for the project management named Prince2 Agile which combines its flexibility and the response of the agile with the help of the governing Prince2. It has been developed in accordance with the demand of the user communities as this Prince2 Agile controls and provides the governance structure working with the entire concepts, techniques and its methods. This was designed in order to help the professionals of the tailor management who is working in the agile environment. As this new product entirely sought out the need of the practitioners who are in need of this solution like Prince2 which is clear and comprehensive in nature as both can create a clear interface in between of the prince2 and the agile.

Though prince2 Agile has been supported by an exam and the formal certification which has been accredited by the providers or the trainers’. Along with Prince2, the Prince2 agile also can be used or applied in any type of the project in an industry or organization.

Finding a Prince2 Agile usually the trainer incorporates the training provider search. The Prince2 Agile permits on focusing the management and the delivery system thus work with the well-established agile approach. It is always on time and never cross its deadlines that is consistent in nature. Basically, it is collaborative in nature and corporate friendly. It meets the requirements and the pragmatistapproach. Hence, itadds up the confidence of the stakeholder and it manages to adaptto the additional tools and reacts in accordance with the changing environment.

AgilePM?

AgilePM is basically designed through DSDM Consortium which represents an approach that is different to Prince2’s apparently. As Prince2 Agile’s aims lie in the introduction of the AgilePM converts which is called “agilistas” which means merely assistance in governing the style of Prince2. It is the most popular methods in management in the western world and some considers it to be a religion in some industry because of its revolutionary vigour as it includes the different things and though it is widely reported that the agile environment is the best to work on.

All the factors of the AgilePM describe in the frameworks of a family of behaviours, its concepts with its techniques, thus incorporated in the software development, events management production. Consequently, the Agile approach has attracted as of many reasons that havean emerging power of much little up and front design and its specifications, itfocuses on the collaborative terms for a longrun as it attracts the customer to provide the assistance in the development team. Agile PM favors the casual communication such as whiteboard workflows. It always concentrates on the continuous development where teams are empowered with the decision making facilities and there is no escalation in the higher-ups.

PRINCE2 AGILE FOUNDATION

This Prince2 Agile foundation has been designed for those individuals who are very new to the Prince2 working system and in the agile project environment.Although this course covers the overview of the Prince2 and it gives the introduction of the agile and how it can be used or applied and though there are no such course prerequisites. It brings both together in regard with the project management methods as this requires the Prince2 who belongs to the practitionerlevel of the qualification to study as because it aims at the targeted who wants to engage and learn on how to get oneself adapted in the Agile PM practices.

IMPORTANCE OF PRINCE2 &AGILEPM

There are numerous benefits of Prince2 and the Agile as both got implemented and got the recognition around the globe and most importantly gets combines and fulfil the needs of the organization. The proper guidance enables with the knowledge on how the agile governs the delivery of the projects in a meanwhile Prince2 looks after the whole project. Along with the Prince2, the Prince2 Agile tends to promote the fast returns on the investment with the help of its good flow based work models. The blend of the terms enhances the communication in overall disciplines and the teams. With the process of Prince2Agile, the Prince2 achieves the greater flexibility using the agile influence.

Benefits and limitations of PRINCE2:

PRINCE2 is one of the most popular project management methodology used worldwide. This methodology has some benefits as well as some limitations. The benefits of PRINCE2 methodology are as following:

  • PRINCE2 is knows as a predictable project management methodology. This is because it helps in breaking down the projects in different stages and this can be also conducted in a step by step method which gives a valid accuracy to the project (Tomanek & Juricek, 2015). Moreover, all the steps can be monitored thus eliminating the chances of error in the project. This predictable nature of this methodology helps in controlling the project and for ensuring that no issues occur from the beginning of the project to its end.
  • PRINCE2 methodology helps in delivering the high quality end product in a project and further this methodology can be used in conducting any types of projects in all the industries. This makes it one of the widely used project management methodology.
  • This project management methodology helps in ensuring that there is no miscommunication among the participants and further, this makes all the participants aware of the requirements of the project and what should be done to complete the project successfully (Coppola, D’Ambrogio & Gianni, 2016). This is because a standard document is provided to all the participants to make them know about their roles and responsibilities in the project.
  • PRINCE2 methodology helps in reducing cost and time of a project. This is because all the participants are aware of the requirements, therefore; this saves time of the company to train them to work on the projects. Moreover, risk identification becomes simpler and can be identified after each stage of the project.
  • One of the biggest benefits of PRINCE2 is that this is free to be used for a project. There is no requirement of any license fees for using this methodology which makes it extremely cost effective.

Benefits to the Individuals

Using of PRINCE provides an individual with greater control of the resources and with an ability to manage the business and risks of the project effectively. The use of PRINCE will benefit the following:

  • Individuals who are seeking leading skills in terms of project management and greater prospects of being employed
  • Individuals who are responsible for managing the projects
  • Directors, executives and other senior responsible owners of the leading projects and 
  • The organizations dealing with the project. 

In case of the individuals, the certification of PRINCE2 is the most valuable assets for a person who is going to start his career, as it would be increasing the prospect of the individual in terms of his or her employment.  

Benefits to the Organization

The formal recognition of PRINCE2 within a project along with its focus on the matter of delivery of the project provides an organization with the following:

  • A common as well as a consistent approach 
  • A well organized, controlled starting, proceeding and end
  • Regular reviews of the projects against the plans 
  • Assurance that the project will continue to have justifications for a business  

The limitations of PRINCE2 methodology are as following:

  • Although, risk identification becomes easier in PRINCE2 methodology, however, it does not show how to deal with the risks or mitigate them. This becomes extremely difficult to manage and can incur bigger risks in the later stages of a project.
  • Adapting with the changes while using PRINCE2 methodology becomes extremely difficult for the participants. This is because along with the changes there are also requirements of making huge changes in the documentation as well (Carvalho & Rabechini, 2017). This increases the time period of a project.
  • PRINCE2 methodology does not cover the aspect of leadership in the project management and moreover, some important techniques are also not included in this project management methodology. For example, network planning is an important aspect of an IT project. However, this aspect is not included in the PRINCE2 methodology. 
  • PRINCE2 methodology requires a lot of documentation which makes the process complicated some times. This incurs some extra workloads for the participants and thus can delay the overall process of project management. 

CONCLUSION

PRINCE2 is an acronym or short form of PRojects IN Controlled Environments is a de-facto method that has been based on a process for making the project management more effective. This method is used extensively by the governments of the United Kingdom and is well recognized and used in private sectors both with the country and internationally. The PRINCE2 method is used extensively in the public domain and offers best practice and guidance on project management, especially, which are non-proprietorial in nature. The main features of the method are as follows:

  • It focuses on justification of business 
  • Defines the structure of organization for the team who are dealing with project management
  • The planning approach is completely based on the products
  • The method emphasizes more on dividing the project into manageable and controllable stages. 
  • PRINCE2 has the flexibility that can be applied to a level that is appropriate for the project. 

In a survey conducted in the year 2007, the company, Prince Waterhouse Coopers found that there are certified project managers for the higher performing projects and out of them, Arras People’s Survey conducted in the year 2011, named the PRINCE2 to be the most popular amongst all. 

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