After understanding PRINCE2 processes and principles, let’s understand the 6 aspects involved in a PRINCE2 project. If you want to get in-depth knowledge on PRINCE2 Methodology or gain skill to be able to efficiently implement the same, Multisoft Virtual Academy offers PRINCE2 Foundation Certification Trainingcourse for aspirants interested in learning PRINCE2 Methodology. For those, who are new to this concept, here is a brief on PRINCE2 Methodology.
What is PRINCE2?
PRINCE2 is a process based project management methodology that focuses on organization and control. The acronym PRINCE stands for “Projects IN Controlled Environments.”
If you or your team is new to project management methodology then PRINCE2 is a good place to start. It is a simple process that has several principles and phases to guide you for efficient project management. This project methodology will help you develop skills such as project planning, time management, and communication skills.
Six aspects of PRINCE2 project
There are 6 aspects of every PRINCE2 project, which the project manager tracks as the project progresses. They are as follow:
Project scope: This outlines what goals, deadlines, and project deliverables your project is working towards.
Costs: How much money your project will cost. The goal is to calculate this as close as you can to prevent going over your project budget.
Timescales: Amount of time your project will take to complete. PRINCE2 projects typically have a set deadline created by the project board. Timescales gives team members an estimated timeline to complete each task.
Risk: Establish a risk management process to proactively identify what risks your team may encounter and mitigate any issues.
Quality: In PRINCE2 methodology, users have to create a quality register, or something that clearly defines the standards of production for all deliverables. This activity will ensure that the final deliverable match the team’s highest standards and satisfies customer expectations.
Benefits: As per PRINCE2 methodology, every project should have a clear business justification and outcome in mind before planning or approving the project.
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