Are you thinking about spending money, time, and effort on a PRINCE2 Certification to start a project management career? One of the world’s most well-known project management qualifications is PRINCE2®, or PRojects IN Controlled Environments, Version 2 Foundation and Practitioner. PRINCE2 Certification is usually a primary requirement for some employers.
PRINCE2 is important because it gives organisations a framework for organising, controlling, and planning work, which enables them to complete projects successfully. It is widely acknowledged as the best method for project management and is used by businesses worldwide. This blog will help you understand What is PRINCE2 and why you need PRINCE2?
Table of Contents
- What is PRINCE2?
- Why do you need PRINCE2?
- How is PRINCE2 important for your organisation?
What is PRINCE2?
A project management methodology called PRINCE2 is primarily employed in the UK, Australia, and European nations. The abbreviation “PRINCE2” stands for Projects IN Controlled Environments and refers to a Project Management methodology that emphasises managing resources and risks through the division of projects into smaller stages, the definition of clear roles and responsibilities, and the use of seven processes to oversee the project life cycle.
- Start the project
- Launch the project
- Control the project
- Control levels
- Handle product delivery
- Monitor the stage boundary
- Project closure
Why do you need PRINCE2?
Now let’s understand why we need PRINCE2:
1)To develop top project management abilities
The accepted Project Management methodology is PRINCE2. It gives you the ability to manage projects successfully and with confidence. This is so because PRINCE2 makes use of standard systems, terminology, and processes. You can manage resources and risks with PRINCE2. The controls in PRINCE2 make mistakes less likely, but the experiences log shows you and your team how to improve.
With PRINCE2, you can save time, money, and effort. The best part is that it is adjustable. So, you can adapt PRINCE2 to work efficiently regardless of the industry, company size, project size, or even existing methods.
2) To improve employment prospects
In a 2016 AXELOS PRINCE2 study, it was discovered that most participants thought PRINCE2 was helpful for their career, with less than 10% disagreeing, especially in Germany and the Netherlands. Project managers who hold a PRINCE2® certification are among the most highly sought-after professionals in Europe, earning an average income of over GBP50,000.
How is PRINCE2 important for your organisation?
The International Standard Method for Project Management is called PRINCE2. It is acknowledged as a top-tier international solution partly because it incorporates years of best practices in project management and offers a flexible and adaptable approach for all projects. Its approach offers a structure for the several disciplines and tasks needed inside a project. The project management methodology PRINCE2 formally acknowledges roles within a project, concentrates on what a project is to produce (the why, when, and for whom), and gives your organisation’s projects:
- a regular, consistent method
- a regulated and organised beginning, middle, and end
- reviewing progress against the strategy and the Business Case Flexible Decision Points on a regular basis
- confirmation of the project’s ongoing business justification
- flexible deciding factors
- management of any plan deviations
Updating one’s skill set and trying to keep ahead is essential in today’s competitive world. Having a strong mentality is also necessary for leadership jobs in project management. The combination of leadership and skill set is powerful for success. And PRINCE2 training and certification offer just that. So, improve your skill set to stay on top.