Topmost project management methodology- What does the 2 stand for in PRINCE 2?

PRINCE 2, which refers to Projects in Controlled Environments, has become well-recognized methodologies in the field of project management. In the UK, PRINCE 2 has become the de-facto standard for project management, and following its success in the UK, it has become popular across the globe. PRINCE 2 is becoming established in Belgium, South Africa, Netherlands, Australia, Germany, Spain, and the United States.

If you are searching for the topmost methodologies that will lend you a helping hand while managing projects, then PRINCE2 Certified professional provides you with a successful platform. PRINCE 2 is the project-based, flexible, and innovative method which helps project managers to handle any project efficiently. Around 88% of employees have reported that qualification of PRINCE 2 has added value to their career.

What do 2 refer to in PRINCE 2?

As far back as 1975, PRINCE 2 has its roots in the methodology of PROMPT II, which stands for Project Resource Organization Management Planning Techniques. In 1989, PRINCE became the standard for all the government information systems projects in the UK by replacing PROMPT II. PRINCE methodology has remained in the public sector of the UK.

In 1996, the methodology of PRINCE was re-launched as a standard methodology in the field of project management for all non-governmental projects. The updated methodology re-launched became a standard method in the field of project management. Hence, the name stands as PRINCE 2. PRINCE and later PRINCE 2 were mainly introduced to recognize and work on the common causes of business project failure.

PRINCE 2 helps the project managers to divide each project into a manageable stage. The PRINCE 2 methodologies make it flexible for the professionals to handle even the large with comfort according to specific requirements. According to a conducted survey, 85% of professionals have stated that PRINCE 2 Certification has been useful for their career development. Every stage of the project can be easily structured from start to finish by focusing on PRINCE 2 principles.

Why PRINCE 2 serves as an essential project management methodology?

The project managers can apply different methods for initiating, controlling, managing, and executing the project. Generally, the methodologies within project management vary according to the project, industry, and even with the project management team within an organization. However, if the professionals are not familiar with standard project management methodologies, then they cannot manage business projects successfully. It becomes efficient to have the right credentials if you are working in an organization that applies project management methodologies.

PRINCE 2 is the perfect qualification for a starter who wants to get into the field of project management. PRINCE 2 methodologies teach the fundamental principles so that project managers can work on a wide variety of projects in the best possible way. The globally established methodology allows project managers to expand their network with the increase in demand for services offered.

Benefits of PRINCE 2 methodology

  • The projects managed with PRINCE 2 methodology do not have the limitations on the size of company or projects, which makes it a smart choice for any organization.
  • PRINCE 2 allows the project managers to make the right decisions even in a tough situation. Throughout the process, the project managers can plan how to handle projects effectively.
  • The project managers can oversee the work being done on the project. PRINCE 2 methodologies ensure that the project is well-managed and completed successfully.
  • The practices within PRINCE 2 are agreed on by the majority of organizations across the globe and recognized as a vital core tool of project management.
  • PRINCE 2 methodologies help in keeping the project in an organized way throughout its execution process. By following a common and seamless approach, the project managers can enhance their business productivity.
  • Business case and flexible decision points help the professionals to maintain a proper communication channel between the team members.
  • The project managers can get an effective method of capturing and sharing the learned lessons effectively with the help of PRINCE 2 framework.

Why should project managers earn PRINCE 2 Certification?

Project management is an ideal choice for those professionals who dream to work abroad with better opportunities. PRINCE 2 Certifications are not only popular among the project managers but also the professionals globally. PRINCE 2 Certifications are not only popular among the project managers but also the professionals globally. Qualifying PRINCE 2 Certification offers the following benefits to project managers:

  • Industry standard: The professionals looking for career development in project management can end their search at PRINCE 2. The qualification of PRINCE 2 Certification is approved by the UK Government and worldwide famous in the field of project management. It is one of the crucial requirements for those project managers who want to enhance their career.
  • Gain effective project management skills: The project managers who want to increase their confidence while managing projects should learn PRINCE 2 methodology. The incidents associated with PRINCE 2 methodology help the professionals to learn from the same mistakes and execute the plan successfully. Moreover, the professionals can easily adjust the changes necessary for project execution without effecting time and budget.
  • Shape career with better job opportunities: Undoubtedly, by certifying with PRINCE 2, the project managers can add credibility to their resume. In today’s time, various organizations prefer to hire professionals who are certified with PRINCE 2. The certification is better for career growth and offers multiple opportunities to get the best job.
  • Salary prospects: Numerous companies across the world offer an average salary of $42.380 to the professionals who are certified with PRINCE 2 Foundation. Moreover, when the project managers qualify PRINCE 2 Practitioner examination, then they can earn around $66.206. It shows how PRINCE 2 certification is beneficial to secure financial benefits for a long-term basis.

Conclusion

Planning is a crucial aspect of the PRINCE 2 methodology. The efficient project management methodology outlines the exact process which is necessary for the success of projects. PRINCE 2 is useful for setting out specific requirements for project management and executing it effectively.

Rosina D
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