PRINCE2: An Introduction to Project Management - Case Study Example

PROJECT MANAGEMENT By Student’s name Code+ course name Professor’s name University name City, State Date Overview of PRINCE 2 History, Driving Force and Adoption of PRINCE2 PRINCE 2 was at first based on PROMPT, a prominently used project management technique established by Simpact Systems Ltd in the year 1975. PRINCE 2 was later discovered 14 years later by Central Computer and Telecommunications Agency, the institute that was rebranded the Office of Government Commerce. As from its inauguration, it has surpassed PROMPT. It has undergone several improvements since 1989. PRINCE2 was officially made public in 1996. It was enhanced by a conglomerate of well over 150 European institutions. The most up-to-date edition of the concept was released in the year 2009. The source of power for the emergence of PRINCE2 was to set up a standard for all information technology projects in the United Kingdom. It is one of the first averages that were designed with information technology projects in mind. It is the genuinely accepted set for the public agencies in the UK (Reid 2009). It is widely acknowledged and used widely in the private sector in the UK and internationally. The model of PRINCE2 can as well be used in non-IT tasks. PRINCE2 Concepts PRINCE2 is derived from PRrojects IN Controlled Environments. It is a well thought-out but modifiable, process-oriented project management set to enhance the efficacy of the imperative function of project management. PRINCE2 is described by four building blocks which are: seven fundamental Principles, seven key themes, seven primary processes and doctoring to go well with the precise need of the task. The seven fundamental processes are broken down into forty basic activities. Control in this concept is attained in three basic ways: the first way being breaking down the project into convenient, controllable phases; secondly, organizing the targets; and describing organization configuration of the project team (Bentley 2005). Result oriented planning in this concept gives a focal point on the outcome of the project. It, as well, lays emphasis on change management and other quality control modus operandi. The seven principles of PRINCE 2 The prince 2 methodology employs seven core principles are concerned with the projects life cycle and how the step by step approach is employed. The seven are discussed as: 1. Continued business justification: here the methodology should be assessed in such a style that all the steps, activities and processes employed in the project completion are sensible and in line with the interests of the stakeholders. Stakeholders view such activities and project decisions in terms of rationale. 2. Learning from experience: this principle is based on the assumption of practicability. Project execution is done practically and not theoretically (Field & Keller 2008). This implies that the most appropriate way of learning is through experience since project management and execution are among the most repetitive procedures. Hands-on experience is identified as the most effectual way of learning. 3. Defined roles and responsibilities: the fundamental roles of the various teams involved in the proper completion of a project must be clearly described in such a style that overlapping roles do not exist. This causes orderliness as well as easy coordination among the staff. Coordination and proper communication are central to the achievement of the interest of the stakeholders. 4. Manage by stages: apparently, projects are broken down into various parts. Such parts make the achievement of the entire project a step by step process. Managing by stages enhances accountability and duty in such a style that the manager of each step can be held liable and responsible for the faults. 5. Manage by exception: management by exception implies that best practices should eliminate stereotyping. In other words management should apply contextually in such a way that at some point, compromise is acceptable. 6. Focus on products: the end or the outcome of a project endeavor should be such that it meets expectations and interests of the stakeholders (Great Britain 2009). The process should not only be checked for compliance, but also for such things as quality of the product, cost-benefit analysis and the variance between the expected and the actual. 7. Tailored to suit project environment: fundamentally, PRINCE 2 is concerned with project management within a controlled environment. A controlled environment refers to a set of predetermined conditions that are likely to align the way a project is executed with the particular interests of the primary stakeholders. The seven themes of PRINCE 2 1. Business case: this is the driving force of projects in PRINCE 2. The business case here implies that the project should be executed in such a manner that the customer requirements are ignored and the specific business taken into consideration. Apparently, this marks a major difference between PRINCE 2 and PMBOK. 2. Organization: organization here refers to such things as coordination, communication and proper division and breaking down of the project whilst assigning various phases and stages to particular individuals and departments for the purposes of evaluation, accountability and responsibility. 3. Quality: total quality management is among the primary factors applied and considered in project management. Total quality management has been described variously as the emphasis on zero defect and continuous improvement. Quality refers to the process of constantly meeting and exceeding customer expectations. 4. Plans: apparently, plans are vital in the execution of any sound project. The major reason why this is so is because project management concerns itself with such things as time planning and resource allocation. Usually, allocation of resources and time can become really difficult, especially when such resources are limited. 5. Risk: risk is inevitable in all projects. The inevitability of risk can be described by the vibrant nature of all factors involved in making up the project. Apparently, engineering projects are the riskiest of all projects considering the physical injury the personnel are exposed to (Great Britain 2009). Risk in engineering projects can as well be termed as the probability of failure of the project. 6. Change: much like the case of organizations, change is never received positively in project management. Typically, the average employee will do all they can to resist change. While management gurus have yet to establish the reason behind the tendency of humans to resist change, fear of the unknown has been identified as the primary factor. 7. Progress: projects are developments that should be progressive at all times. In straightforward terms, the advancement from one stage to another should be accompanied by progression and not retrospection and deterioration. Progress is closely monitored to ensure all is in line with the plans and estimations. The seven processes of PRINCE 2 1. Starting a project: starting a project entails the processes of planning for the basic foundational information and resources relating to the project. Apparently, this is the most important process as it determines the success or otherwise of the subsequent processes. 2. Initiating a project: Initiating a project concerns itself with laying down the actual project and getting down to work. Initiating an engineering project, for example could entail, the establishment of the foundations and gathering of resources. 3. Directing a project: directing brings in the aspect of leadership to project management. Directing is the process of allocating resources, duties and responsibilities as well as giving instructions on how various activities are to be executed. 4. Controlling stages: In project management under PRINCE 2, controlling is a process that, typically, concerns itself with the duty of establishing and analyzing variances between the planned and the actual. Controlling is therefore, concerned with standards and actual results. 5. Managing stage boundaries: since the implementation and execution of a project is concerned with stages and phases, there ought to be clear differences between one stage and another (Ó Conchúir 2011). This means that there should be boundaries defining the end of one stage and marking the beginning of another. This ensures proper allocation of resources and time. It, as well, ensures proper accountability and elimination of overlapping duties. 6. Managing product delivery: much like all other products, projects ought to be Relationships and comparison between Prince 2 and PMBOK High Level Differences between PRINCE2 and PMBOK 1. PRINCE2 lays emphasis on primary uncertainties: PRINCE2 emphasizes fundamental uncertainties in a task. Conversely PMBOK is a little more all-inclusive. PRINCE2 establishes why ventures fall short and it endeavors to minimize possibilities of failure by eliminating the causes of failure through efficient supervision, control and appropriate use of capital and skills (Kanda 2011). PMBOK, as well, aims to enhance chances of project success by employing proper processes, machinery and methods. While neither of the two can give an assurance accomplishment, they advance possibilities of accomplishment. PRINCE2 mainly concerns itself with enhancing chances of constructive achievement. 2. Result oriented: PRINCE2 give emphasis to result-oriented preparation to produce a highly superior product. PMBOK does not emphasize the same things. 3. Management in PRINCE2: Control is put in practice by consenting to and by breaking down the venture into convenient parts and targets. PMBOK fails to give a comprehensive coverage to the same. 4. Supervision and practical stages in PRINCE2: practical phases are overcoming methodological undertakings and hitches while management stages are obligations to all primary stakeholders. PMBOK does not manage to make this difference. Phases and stages are used in alternating manner in PRINCE2. 5. Business Case: Business case determines the directions of a PRINCE2 venture while the client needs determines the direction of projects under PMBOK. 6. Defining the Stakeholder: PMBOK describes a stakeholder as an individual or firm that is devotedly concerned with the project, or whose benefit may be usefully or unfavorably affected by implementation or close of the venture. PRINCE2 goes an extra mile and categorizes the stakeholder into three: Corporate guarantor, consumer, and supplying merchant (Kousholt 2007). Commercial guarantors are those that ensure the venture achieves for financial purposes. Consumers are the parties who will utilize the result once it is completed. Suppliers provide the know-how and the capital to the venture and eventually produce the outcomes. 7. PRINCE2 is authoritarian but adjustable: The Process formation requires to be adhered to in PRINCE2 concept. It can be graduated in line with the size of the complete venture. PMBOK lays down apparatus and methodologies at an advanced level, but mostly acts as performance oriented standard. High Level Synergies between PRINCE2 and PMBOK 1. Describing a venture: PRINCE2 describes a venture as a short-term project that is designed for the principal function of achieving one or more company outcomes in line with a prearranged Business Case. On the contrary PMBOK describes a project as an impermanent, purposeful endeavor taken on to create an outstanding result. 2. Describing the function of Project management: PRINCE2 describes the function of Project Management as an effort to achieve a project’s fundamental objectives within the structure set for time, total value, quality of the final product, scope of the venture, accruing merits as well as predictable uncertainty. 3. Performance constraints: These are described in the idea of PRINCE2 as, total costs, time, product quality, accruing benefits, scope of the project and unforeseen uncertainties. These very variables are as well known as project limitations in PMBOK. 4. Themes and information areas: The theses of PRINCE2 are considerably analogous to the information areas of PMBOK. The only PMBOK information area that is not addressed or explicated in great detail in PRINCE2 is the process of procurement. 5. Process Teams: The teams of PMBOK and those of PRINCE2 are considerably simile, as well. The single dissimilarity is that the process of PRINCE2 ‘Starting up a Project’ is not covered under PMBOK. 6. Activity versus process: PRINCE2 comprises of 40 fundamental activities that are carried out all through the venture in the various processes. This can significantly be compared to the 42 integral processes of PMBOK. A critique of the transatlantic train engineering project The transatlantic train, arguably one of the most prominent wonders in the world of engineering, is one project that was more of a success than it was a failure. The project that was completed in a span of close to a decade consumed close to $175 million. This coast was a great variance considering that the initial budget was at $90 million. This unfavorable variance has been the core of a controversy among project management gurus for a considerably long time. Apparently, the thing was a success, thanks to many unforeseen efforts, including deviating from the original plans. This is a detailed critique of the project. To a great extent, the transatlantic train project was PRINCE 2 compliant. The primary reason why this is the situation is primarily because the transatlantic train engineering project did strictly follow the seven principles of PRINCE 2. Going by the physical aspects of the project, the project was a great success in the sense that the product was realized. In as far as starting the project is concerned, the project was properly established as the plans were laid out right with a budget that indicated the budgeted expenditure and the expected economic benefit. Apparently, the transatlantic train was expected to increase economic activity and trade between Europe, specifically, the United Kingdom and the United States of America. Such big plans were the driving force behind the project’s execution. To this extent, the project had indicated compliance with the driving force associated with PMBOK. Initiating the project took quite long. The initiation of the project was planned to take a year. Due to unforeseen disturbances, the projected was initiated in two years, something that affected the timing and execution of all other consequent processes. Such deviation from plan is the primary reason why most analysts have described the project as being PRINCE 2 noncompliant. Directing and leadership was one of the most fundamental functions of the project managers. They were entrusted with the duties of coordinating all processes and implementation teams. The directing function was properly executed as the project took a stage by stage management and supervision system. Monitoring and controlling by stages enabled the organization of communication to be effectively executed, with accountability and responsibility being upheld at every stage of the entire project. Controlling the stages of the projects was effectively achieved as the budget had been broken down into the various relevant stages. The plans that had been made relating to the stages included the allocation of time, labor and other physical resources. Apparently, the allocation of time was done flawlessly, in such a style that all deviations were easily investigated and explained. In straightforward terms, the allocation was done in the early stages; such hat all the people responsible for the administration of resources had the expected estimates and deviations. The stage boundaries were well managed, such that there was little overlapping of tasks. Having people perform two functions at a time amounts to duplication of work and this has been described variously as one of the most well-known grounds of confusion and fraud. Managing product delivery is among the factors that were most effectively executed in the completion of the transatlantic project. The product delivery was achieved through cooperation and coordination among many stakeholders, with the governments and the private sectors contributing equally to the successful completion and implementation of the project. The forty activities that are characteristics of a PRINCE 2 compliant project were carried out throughout the project completion. Apparently, the product was completed in a span of ten years, effectively. The primary failure of the project was the aspect of time allocation and management. The time allocated for the initial stages was not well observed. As such, all other processes were affected negatively. Apparently, the primary success of the project is the fact that the project implementation team managed to deliver the pre-determined product to the people of Europe and America. Reference list Bentley, C. 2005. Practical Prince2. London, TSO. Field, M., & Keller, L. S. 2008. Project Management [...] XD-Us. London [U.A.], International Thomson Business Press Great Britain. 2009. Directing Successful Projects with Prince2tm. London, TSO. Great Britain. 2009. Managing Successful Projects with Prince2. London, TSO. Kanda, A. 2011. Project Management: A Life Cycle Approach. New Delhi, Phi Learning Private Limited. Kousholt, B. 2007. Project Management: Theory and Practice. Kbh, Nyt Teknisk Forlag. Murch, R. 2004. Project Management: Best Practices For It Professionals. Upper Saddle River, NJ, Prentice Hall PTR Ó Conchúir, D. 2011. Overview of the PMBOK® Guide Short Cuts for PMP® Certification. Berlin, Springer. Panneerselvam, R., & Senthilkumar, P. 2010. Project Management. New Delhi, Phi Learning. Reid, A. P. 2009. Project Management: Getting It Right. Boca Raton, Fl, CRC Press. Read More