PRINCE2 Methodology and Project Management

• The case study is clearly defined from the beginning and reconsidered throughout its duration; this is a key principle of PRINCE211 management methodology, if it is to disappear, the project is in closure phase.
• The main theme of the project is represented by the first principle of permanent justification of the business case of the project. The accompanying document is very comprehensive and includes a summary of expected benefits and investment return, the business case itself and its compatibility with project sponsor's strategic goals, as well as the various options available, the project timeline, costs, and return on investment.
• The main goal of the business case is to allow the board (see below) to determine if the project presents and retains interest, if it is viable in the sense that it can be completed and if it can produce the expected results.
• The organization assigns roles to the different actors involved in the project's direction, management, control, etc. This is directly related to the principle of defining roles and responsibilities and the methodology emphasizes the fields of responsibility of each member of the project management structure named for the project and the expectations of them. PRINCE2 promotes four management layers. The first is hierarchically above the project: it is the sponsor. As introduced earlier, in some large organizations projects are grouped in portfolios held by programs: for this reason, PRINCE2 terminology for this layer is management of program. At the next level down we have the highest structure in the project: the council. The executive of the council, identified by the program, is the person responsible for the project and represents its superior interests, which are those of the customer. On the recommendation or not of the management of program, the executive surrounds himself with the necessary people to represent the interests of the customer as well as those of the suppliers who will actually carry out the project concretely. The representative of the user must ensure that customer's demands are taken into account and that the expected benefits are maximized while the representative of the supplier must ensure that the chosen technical solution is reliable and achievable within the project's performance targets. This is the layer of management.
• At the next level down we have the layer of direction. The council names the director of project to the third layer. The director can be assisted by a support of project, which is an administrative resource. This is the layer of management proper. At yet a lower level we have the layer of realization, where the products of the project take shape. Its complexity may require the participation of specialist teams led by project managers who are directly dependent on the Director of Project.

Test your knowledge of PRINCE2 methodology and project management principles with this quiz. Explore concepts such as defining roles and responsibilities, business case justification, project closure, and more.