PRINCE2® - benefits for IT Firms

Introduction

This blog explains about how PRINCE2 (project management in controlled environment) can help IT and related domain companies to manage projects in an effective way.

About PRINCE2®

PRINCE2® is globally recognized and accepted project management practice which is generic and used by all vertical firms. The concept of PRINCE2® is very flexible and can be easily tailored as per the project requirements. Its principles proven and there is always best project delivery success rate.

PRINCE2® methodology can be adopted to any size of the project and in any type of the organization. All the key activities are addressed very effectively in PRINCE2®. It covers the main areas required for project management like risk, Planning, Change and progress.

Courtesy: axelos-prince2-foundation

PRINCE2® methodology is based on its 7 Principles, 7 Themes and 7 Process.

Reference from: axelos.com

The 7 Principles	The 7 Themes	The 7 Process
Continuous Business Justification	Business Case	Starting a Project
Focus on Products	Organization	Initiating a Project
Mange by Stages	Quality	Directing a Project
Manage by Exception	Risk	Controlling
Tailor to Suit	Planning	Managing Product Delivery
Learn from Experiences	Change	Managing Stage Boundaries
Roles and Responsibility	Progress	Closing Project

Benefits to IT Project Management

PRINCE2® is widely adopted project management methodology in the information technology sector. Many organizations are using it to manage their projects and it has helped them to execute and deliver a project in a successful way. My experience of using PRINCE2® and how it benefits to IT companies is explained in below section.

1.       Establishing Organization Culture: Organization culture is one key factor for all companies and it’s very important for those who has peoples as their main assets. Any project undertaken for execution in any organization has big influence of its culture on project life cycle. Its organization philosophy with which it’s heading to achieve the goals. Culture is based on shared attitudes, beliefs, customs and rules.

Culture also includes the organization’s vision, values, norms, systems, symbols, language, assumptions, beliefs, and habits (Needle, 2004).

PRINCE2® 7 principles helps to establish the culture in IT organizations. The continuous business justification teaches people about using the resources and their time effectively and project always running with return on investment. Its also helping in setting up roles and hierarchy culture.

2.       Setting up Consistency: This is a very important factor in the project execution and PRINCE2® s seven processes helps in setting up the consistency in the projects tasks. Adopting the PRINCE2® process allows the project manager to execute project with consistent stages. All the stakeholders are able to drive the project to its objective.

3.       Allow Tailoring: PRINCE2® allows people to customize it as per the organization and project needs. Most of the IT projects are of short duration and it’s important for all the stakeholders to conclude project successfully by achieving its desired objective and for that there might be certain things to be customized or standardized and this methodology allows to do that very flexible way.

4.       Continues Business Justification: The continues business justification is the key principle of Prince2 and its very much aligned with all the organizations. All IT firms can establish concrete trust with their vendors only by listening to their vendors, understanding them and acting for their benefits. The continuous business justification principle allows these firms work continuously with their vendors by justifying the business.

5.       Managed by Stages: IT companies are executing large and complex projects which run for several years. Prince2’s managed by stage allow these firms to break the work in smaller phases and manage them effectively. Dividing work in small phases with demo able milestone provides transparency in all stakeholders.

Conclusion:

PRINCE2® is tested and proven project management practice adopted by multiple organizations all over the world. Understanding the PRINCE2® deeply and implementing it as per organization’s philosophy will benefit to organizations as well as the employees. Its 7 principles, themes and process are closely mapped to each other and allow organizations to scale as per their needs.