Business & Finance

What Is Project PRINCE2 Management?

What Is Project PRINCE2 Management
What Is Project PRINCE2 Management

Project management is the planning, organizing, and managing of an organization’s resources to accomplish specific projects within a time frame stipulated by the organization’s authority.  The vast majority of projects are typically short-term in nature, with a life expectancy of one or two years.  Most companies typically establish a project management office to handle the planning aspect of what then becomes a sub- Wing of the largest business unit, or division.  A project management office will normally have only a few project management staff, a qualified staff coordinator, and a resource allocation process designed to help everyone on the team from executives to entry-level workers to entry-level workers.  An effective project-management process needs to be defined to help ensure that both management and the workers have a clear vision.  A project management process is a recognized professional discipline, and standards are used to demonstrate that the process will work effectively as it is designed to. As on a prince 2 Course London qualification.

Understanding project management is helpful in helping organizations determine whether or not they choose to establish a project-management project, and provide the organization with the information to justify that decision.  As far as anyone is concerned, the standards harden down into four elements:

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1. What is the project’s goal?

2. What steps are required to reach the goal?

3. How will the project’s objectives be reached?

4. How much is the project going to cost, and how are we going to be able to measure its success?

The first and second elements are easy to define.  In many cases, projects will be completed to deliver an objective.  In other cases, the objective may be to drive a new system to streamline a process, design a new product, or perform a new procedure.  The objective may be to implement or manage a new software program, case-study a new profit center, or conduct a presentation involving a new product.  The objective may be to test a new process.  Specifics are important because any project will include costs to deliver an objective.  Measuring the cost requires a quantifiable Control Sector to measure and manage the resources necessary to attain the objective.  This is what project management is.

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The other element of project management is the managing of resources to attain objectives.  The control sector may include a goal to meet a budget, staff to perform a task to satisfy a satisfactory level of overall customer satisfaction, or activity to involve a key dealer to market the product in a certain geographic region.  This element sets a project manager free to act on behalf of the control.  The ability to plan precise effort and apply it to the most efficient manner is necessary for establishing mutual composure.

Successful project management requires that the project-management process operates as all-encompassing organizational resource allocation.  Unlike the givens of a business office that have their own political or technical department that may be historically driven, the control unit exists only to satisfy those objectives as mutually agreed upon or allocated by management.  This is the area by means of which project managers should operate; in this case, project efficiency and effectiveness.  In project efforts, time, money, and an effective status to measure progress are the three most important indicators of project success.  The absence of these three indicators may be the way to accomplish project success and failure.

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A standard project-management process is an effective solution to the triumph of efficiency by leveraging organizational resources, information, and incentive programs that supplement an organization’s or an individual’s efforts to accomplish an organizational, departmental, or aggregate goal.  It makes sense to consider the use of a standard process with business organizations and agencies to complement a team’s efforts to ensure efficient execution and effectiveness in the implementation of various projects.

About the author

Fawad Malik

Fawad Malik Technology geek by heart, blogger by passion, and founder of, He regularly explores ideas and ways how advanced technology helps individuals, brands and businesses survive and thrive in this competitive landscape. He tends to share the latest tech news, trends, Blogging, Business ideas and updates with the community built around WebmastersHall.