PRINCE2 Strengths

PRINCE2 provides benefits to the managers and directors of a project and to an organisation, through the controllable use of resources and the ability to manage business and project risk more effectively.

PRINCE2 embodies established and proven best practice in project management. It is widely recognised and understood, providing a common language for all participants in a project. PRINCE encourages formal recognition of responsibilities within a project and focuses on what a project is to deliver, why, when and for whom.

PRINCE2 has a number of strengths, including:

• It produces highly standardised projects which share a common approach, vocabulary and documents. Consequently it is a transferable skill and anyone familiar with a method can quickly be brought up to speed on a properly applied PRINCE2 project.
• Implementation of the Prince2 methodology is often tailored by organisations to suit their needs, equally the use of Prince2 is often customised on individual projects to suit their scale and circumstances.
• It is a method which embodies best practise in project management
• It enshrines management by exception as a guiding rule, which allows the Project Manager to do their job without undue interference, while at the same time involving higher level managers when things go badly off plan or in PRINCE terms out of tolerance.  Automatic management control of any deviations from the plan.  The involvement of management and stakeholders at the right time and place during the project.
• It provides a controlled start, middle and end of projects
  Each type of document required by PRINCE2 is supplied as a template, which includes required sub-headings which produces easily comprehensible, standardised and complete documentation.
• It is tailorable to the needs of a specific organisation and/or project.
• PRINCE2 reference/material are published, so that an organisation need not develop and document its own project management method in order to train staff in its use.
• Regular reviews of progress against plan and against the Business Case flexible decision points
• Good communication channels between the project, project management, and the rest of the organisation.
• It is royalty-free, therefore an organisation can advise/require its suppliers to use PRINCE2 without royalty concerns.

Related posts:

1. PRINCE2 Processes, Components and Techniques
2. PRINCE2 Products/Deliverables and Activities
3. PRINCE 2
4. PRINCE2 Structure
5. PRINCE2 Key Features