PRINCE2 is one of the world's main project management methodologies. It was developed by the UK government and is administered by Axelos, a company partially owned by the UK government. Axelos administers the two PRINCE2 certifications: PRINCE2 Foundation and PRINCE2 Practitioner. The latter is the main certification, and the former is the more basic, … [Read more...]
PRINCE2's processes are structured activities that turns one or more inputs into outputs. They are the tasks required to direct, manage, and deliver a project successfully. There are 7 processes within the PRINCE2 methodology: Starting up a project Directing a project Initiating a project Controlling a stage Managing product delivery Managing a … [Read more...]
PRINCE2 Themes are functional categories, or knowledge areas, that a project must draw on at any time in its life cycle. Like a train that needs wheels, comfortable chairs, windows, and a driver - Each part works together to allow it to arrive at the destination in the maximum amount of comfort. The seven PRINCE2 Themes are: Business Case Organization … [Read more...]
PRINCE2's principles are guiding doctrines which must be followed by all projects. They are like a project constitution of sorts. All projects must abide by these philosophies. The seven principles are: Continued Business Justification Learn from Experience Defined Roles and Responsibilities Manage by Stages Manage by Exception Focus on … [Read more...]
Most projects require some form of external purchasing (procurement) in order to meet their goals. Executing these procurements to fulfill the needs of the project falls under the knowledge area of Project Procurement Management. Contractors usually have better expertise or experience and can provide a higher quality product. But often they are not … [Read more...]
Many project managers have executed the technical work to perfection only to find out that stakeholders were not satisfied because communication was poor. Thus, project communication is sometimes more important than the technical work. Of course, the project manager needs to communicate when unexpected events occur. That's the domain of project risk … [Read more...]
Managing the project resources is how the project manager spends most of their time. From ordering supplies, to training team members, to paying bills, the project resources are a seemingly bottomless pit of active management. Meanwhile, the project team is one of the most important components of project success - Having confidence that your team is going to … [Read more...]
In some industries, risk analysis as a subset of project management is virtually non-existent. Project management is usually focused on cost and schedule, and delivering projects "on time, on budget" sometimes feels like the only criteria. But as a project manager, there's nothing that makes you sleep at night better than knowing you've got the risks to your … [Read more...]
Project management isn’t a one-size-fits-all game, and as such, several organizations have grown into standards-shaping bodies that determine the project management standards in use around the world. Each brings its own flavor to the table, whether it’s structured methodologies, global perspectives, or adaptive frameworks, thereby guiding professionals to deliver projects … [Read more...]
Nothing derails a project faster than shaky cost management—a misstep that can turn even the best-laid plans into a financial quagmire. That’s why mastering project budgeting and cost control is a non-negotiable pillar of effective project management. Fortunately, the Project Management Body of Knowledge (PMBOK) provides a robust, time-tested framework to keep costs in … [Read more...]
