Revealed: 7 Principles of Prince2 Methodology for Projects

Introduction

There has always been this argument in project management circles on whether to go for Agile methodology or Prince2 methodology. I would like to lay that argument to rest today. In this article, I want to talk about seven principles of Prince2 method of running projects that you need to know.

7 Principles of Prince2 methodology

#1 Business justification

First and foremost, when you are using Prince2 methodology, you have to know that every project has to have a business justification. That means once the reason for establishing a project can no longer be justified, you have to stop that project with immediate effect.

 

#2 Learning from experience

It is also expected that the Project Manager and team members should learn from experience as they move on with the project. They are always getting feedback from customers based on what they have done. The team should try as much as possible not to repeat the same mistake again.

 

#3 clear roles and responsibilities

There must be clear roles and responsibilities for each of the team members. They have to know what they are expected to do as far as the project is concerned. This will help team members to know what is expected of them. This will also help the Project manager to know those roles that he needs to seek procurement for from outside suppliers.

 

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#4 Management in stages

One other fantastic thing about Prince2 methodology is that work is planned and managed in stages. This is sometimes referred to as incremental methodology which allows projects that have complex tasks to be done one bit at a time. This helps in mitigating project risks and improving business results.

 

#5 Management by Exception

One other feature of Prince methodology is that team members are managed by exception. That means there might not be much of team meetings but the Project Manager deals with each of the team members on an individual basis.

 

#6 Focus on product

One other unique thing about this methodology is that it stayed focused on the end product which seems to be more important than any other aspect of the project. Everything is been done to ensure those team members and the project manager are able to deliver on the result. It is also expected when the use of a product is no longer necessary, the project should be stopped.

 

#7 Tailoring

Another focus of the Prince method of managing projects is Tailoring. This has to do with the application of necessary processes in order to ensure that the tools and processes suit the project that you have at hand. Take for example you are just coming new to the construction industry. Obviously, the way you manage IT Project is not the way you manage your construction. You have to tailor your knowledge to suit the project that you have at hand.

 

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