The Prince2 framework for effective project management is a standard set of practice initially designed for reorganizing and improving the system of government organizations. The methods of Prince2 however have evolved to encompass even large projects initiated by private companies. This is because the system can be scaled and customized to suit any type of projects. Understanding Prince2 basics is very important for project managers. This will enable them to efficiently implement and manage any projects.
Prince2 methodology is founded on certain basic characteristics. It starts with a business case. This aspect is very important to justify the implementation of a project and the necessary resources and personnel needed for the project. This will be presented to the stakeholders and the board of directors which functions as an oversight body. Prince2 also organizes different stages of the project into distinct processes which are interconnected. Goals are planned and the underlying methods to reach the desired output. Any deviation from this would require automatic review. This will ensure that risks and mistakes are minimized to avoid unnecessary delay in the process of implementation.
Control is also a basic feature of Prince2 methods. Project structures are defined as well as the different tasks and responsibilities of every structure. There would be effective checks and balances at every stage of the project. This is reinforced by the institution of efficient communication among project implementers.
Prince2 is a probably the best method to use in managing any type of projects. Managers should familiarize themselves with the basic procedures and processes embodied in Prince2.