PRINCE2 Project Management practice

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Project management is the practice of managing a group of assigned responsibilities, or projects, within a specified time, cost, and resource framework, to maximise the effectiveness of the investment of the investors. The specific tasks to be completed with each project are defined and agreed prior to commencement. As can be found on a PRINCE 2 practitioner Courses and training.

Project management includes the practice of control systems, governing structures, legal agreements, and personnel policies. The supply chain management principles are applied in the preparation of Whatever proposal is finally approved by the board, and then to negotiate with any interested parties on their level of investment. In applying project management principles, projects are controlled by a set of processes and methods:

All projects are governed by specific processes. Each of these processes will be supported by a control mechanisms to monitor the implementation and effectiveness of activities.

 proposing a project:

a)the primary purpose of any project is to achieve results or bring about improvement within an organization (e.g. cycle improvement, cost reduction, safety etc.)

b)all goals of a project are defined and agreed within the project

c)it is important to decide upon the project’s tactical division

d)a project will be approved or declined by the officers

e)the project can be split into a separate project for each organisational department

Planning:

Planning is a process undertaken to set the relevant objectives and actions for each project.

The plan is produced in conjunction with the project plan including resource requirements, time lines, budget or level of acquisition, schedule and performance objectives, risk analysis, and contingency plans (e.g. in case of failure to meet objectives)

Organizing

Organizing is the day-to-day operational management of the project portfolio. An important part of Organizing is the adoption of appropriate and effective project management skills to aid in the achievement of project goals and the improvement of personal and organisational skills.

All project management programme plans would include Organizing and Organizing, the 2007 version of PRINCE 2 of Fold andanna Place (already produced by the author).

Scope, Time, and Budget Requirements

The scope of a project is the extent of the total project (including what works are to be accomplished, and what budget is allocated to each activity).

An initial scope is specified. This defines how narrow or broad the project will be. The plan will also define the resources that will be available to the project.

The time scale for the completion of each project sponsored by a company is documented, giving a time-frame within which to complete each activity and report back to the sponsoring company.

Monitoring and Control

Monitoring helps to control activities carried out in projects to identify and control not only major changes in activities but also minor changes.

Suggested by the PRINCE2 Socata, in conjunction with theBlue Teamdiscipline, to ensure control and help to ensure measurement, the supervision is linked by the creation of cycle time markers, or milestones. The key aspects of monitoring of a project are:

Control statements act to control activities carried out in a project and by monitoring the activities on a regular basis, corrective action can be taken to ensure the activities meet their cycle times

Best Practice Practise encapsulates the key best practices, which if adopted can be very effective in achieving a project’s goal.

Sponsorship

Sponsorship is considered as the tagline of a project’s success, project adherence and long-term success. Successful sponsorship also depends on the project’s PLM capability.

A project manager needs to consider each project to meet the creation of key best practice.A key best practice auditor said, ” cancelori severe privi- caring about the environment must not be treated as a luxury, but as that which is ordered to be in accordance with tasks, with a clear andger Commerce aims”

When deciding the type of the project sponsor, it is important to realize that they should not be permanent members of the project board, but should be those able to act as an advisor or a broker.

Project delivery is not for pure profit oriented activities, but it is a tool to assist Companies in the determination of success, the creation and enhancement of Company value, and in evaluating that all is being done as efficiently and productively as is feasible, and, above all, that the necessary business benefits are realized.

Throughout the whole work of a management team, a crucial aspect is togetherness, sustained success, overlapping work efforts are a key.The project’s success is then not purely dependent on project delivery, but also on actions taken by the members of the management team.