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Prince 2™

Since its introduction, PRINCE2™ has become widely used in both the public and private sectors and is now the UK's de facto standard for project management. Although PRINCE was originally developed for the needs of IT projects, the method has also been used on many non-IT projects. The latest version of the method, PRINCE2™, is designed to incorporate the requirements of existing users and to enhance the method towards a generic, best practice approach for the management of all types of projects.

What is Prince2™?

The method describes how a project is divided into manageable stages enabling efficient control of resources and regular progress monitoring throughout the project. The various roles and responsibilities for managing a project are fully described and are adaptable to suit the size and complexity of the project, and the skills of the organisation. Project planning using PRINCE2™ is product-based which means the project plans are focused on delivering results and are not simply about planning when the various activities on the project will be done.

How does Prince2™ Work?

PRINCE2™ outlines 8 processes that are required to successfully carry out a project. These are:

Starting up a Project: This process occurs before a project has started, it involves getting the people who make decisions together and appointing a Project Manager to manage the project. Together they will outline reasons for the project and how it is to be carried out. This information is put into the "Project Brief". Carrying out this process gives the project a very clear beginning

Directing a Project: To begin a project it must be approved by a group of senior managers called the 'Project Board'. A basic principle of PRINCE2™ is management by exception. That means that while the Project Board take overall responsibility for the success of the project they will entrust the Project Manager with the day to day management. The Project Manager will keep the Project Board informed of the Project's progress with regular reports

Initiating a Project: For a project to be approved it must be carefully planned to ensure that it meets its objectives. This requires making detailed estimations of costs, time and other resources. The Project Manager puts these into what is called a "Project Initiation Document" for approval by the "Project Board"

Controlling a Stage: PRINCE2™ projects are divided into manageable stages to ensure the project remains manageable and controlled. The number of stages will depend on the size of the project and the level of risk. In PRINCE2™ each project stage must be completed before starting the next and each new stage is planned in the stage preceeding it. The Stage Plans will be approved by the Project Board to help ensure that the project remains within budget and delivers its objectives

Managing Stage Boundaries: This process involves preparing for the next stage and reviewing the current stage. It includes the Project Manager making suggestions to the Project Board about the likelihood of the project achieving its business objectives and any changes in the business case, project plan, risks and issues. Having clear stage boundaries allows a project to be controlled and managed by permitting the project to continue only once the Project Board is satisfied with the current stage end and next stage plan

Planning: Each project plan, stage plan and team plan must consider key planning aspects. These including what products to produce, the activities required to produce these products, estimated resources (including costs and time), scheduling the activities and analysing risks. By following the PRINCE2™ planning process all these points are conducted in a sensible, logical sequence. Ensuring consistency enables plans to be compared and streamlines the planning process

Managing Product Delivery: PRINCE2™ projects deliver products. A product could be a physical thing such as a poster or it could be an intangible deliverable such as a service or sales agreement. In fact everything produced in PRINCE2™ (even a document) is called a product! Often a Project Manager does not create the product. A 3rd party supplier and/or their colleagues may do some or all of the work. It is the project manager's responsibility to ensure that the supplier produces the correct products at the right time by providing a description of the work to be done

Closing a Project: Once the project has delivered its products it is closed down, with approval from the Project Board. The Project Manager plans what will be done to evaluate the project's outcome (called the "Post Project Review"). A controlled close down is in effect the last demonstrable PRINCE2™ project action. Any lessons learned are recorded, resources are released and the Post Project Review Plan is created

How Does Atlantic Global Solution Help Prince2™?

Atlantic Project Management Software contains a flexible and configurable project planning capabilities which are ideally matched for PRINCE2™. Atlantic Project Planning provides controlled and organised visibility throughout the entire life cycle of a project from project start-up, to managing stage boundaries and eventually to project closure and review.

Atlantic Project Planning contains the planning functionality that helps the project manager to define the organisation of the project and its stages, the processes which drive the undertaking, the structure and content of the project plan, the controls which ensure that the project is proceeding to plan, the risks involved, quality reviews, project change control and the production of management information reports.

The benefits of using Atlantic Project Planning for PRINCE2™ mangers are that it:

Facilitates control and visibility at all levels

Separates the management and specialist aspects of organisation, planning and control

Provides intelligent resource management

Makes the project´s progress more visible to management

Provides control over the organisational hierarchy of the project i.e. Project Board, Project Manager, Project Support, Project Assurance, Specialist Teams etc

Ensures that work progresses in the correct sequence

Enables all levels of management to measures on going performance

There are often different groups of people involved in projects: the customer, one or more suppliers, and of course the user. Atlantic Global Project Planning works with PRINCE2™ to provide a common language across all the interested parties involved in a project; bringing together customers and suppliers with the necessary tools to work successfully within a framework.

Atlantic Global OnDemands Project Portfolio Management Software includes comprehensive features: Including:

Prince 2™

What is Prince2™?

How does Prince2™ Work?

How Does Atlantic Global Solution Help Prince2™?

Demand Planning

Resource Management

Delivery Management

Financial Management

Budgeting

Scenario Modelling