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	<title>Prince2 Certification Archives - World Of Agile</title>
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	<title>Prince2 Certification Archives - World Of Agile</title>
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	<item>
		<title>How to Track Progress in a Typical PRINCE2® Project?</title>
		<link>https://effectivepmc.net/blog/track-progress-in-a-typical-prince2-project/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Tue, 13 Sep 2022 08:33:38 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Prince2 Project]]></category>
		<category><![CDATA[Prince2 Training]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=9648</guid>

					<description><![CDATA[<p>How to Track Progress in a Typical PRINCE2® Project? For tracking progress of the project PRINCE2® uses the &#8220;PROGRESS&#8221; theme. Progress tracking in PRINCE2® means monitoring and comparing actual achievements against those planned. Providing a forecast for the project objectives and the project’s continued viability and control any unacceptable deviations.  PRINCE2® defines Tolerances to track [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/track-progress-in-a-typical-prince2-project/">How to Track Progress in a Typical PRINCE2® Project?</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<h1>How to Track Progress in a Typical PRINCE2® Project?</h1>
<p>For tracking progress of the project PRINCE2® uses the &#8220;PROGRESS&#8221; theme. Progress tracking in <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a>® means monitoring and comparing actual achievements against those planned. Providing a forecast for the project objectives and the project’s continued viability and control any unacceptable deviations. </p>



<p>PRINCE2® defines Tolerances to track deviations. Tolerances are the permissible deviation above and below a plan’s target for time and cost without escalating the deviation to the next level of management. There may also be tolerance levels defined for quality, scope, benefit and risk.</p>



<p>Progress control involves measuring actual progress against the performance targets of time, cost, quality, scope, benefits and risk, and then using this information to make decisions such as whether to approve a stage or Work Package, whether to escalate deviations, and whether to prematurely close the project.</p>



<p id="h-so-to-track-progress-steps-are">So to track progress steps are:</p>



<ul class="wp-block-list">
<li><strong>Setup Project Controls for Delegations and Tolerance</strong></li>
</ul>



<p>Project manager uses below management products to establish baselines for progress control</p>



<p><strong>Project Plan &#8211; </strong>includes the project level performance targets and tolerances. </p>



<p><strong>Stage Plan &#8211;  </strong>Includes basis of the <em>day-to-day </em>control of the stage. </p>



<p><strong>Exception Plan &#8211; </strong>The Project Board may request an Exception Plan after having considered an <em>Exception Report </em>during the exception handling process. It includes the steps to overcome exceptional situations.</p>



<p><strong>Work Packages &#8211; </strong>The Project Manager authorizes a Work Package. It includes the details of the piece of work required to be completed during a stage by an individual team member or a Team Manager.</p>



<p>Tolerances are set as below for each of the aspects of project </p>



<figure class="wp-block-table">
<table>
<tbody>
<tr>
<td><strong>Tolerance area</strong></td>
<td><strong>Project Level</strong></td>
<td><strong>Stage Level</strong></td>
<td><strong>Work package level</strong></td>
<td><strong>Product Level</strong></td>
</tr>
<tr>
<td><strong>Scope </strong></td>
<td>Project plan</td>
<td>Stage Plan</td>
<td>Work Package</td>
<td>N/A</td>
</tr>
<tr>
<td><strong>Time </strong></td>
<td>Project plan</td>
<td>Stage Plan</td>
<td>Work Package</td>
<td>N/A</td>
</tr>
<tr>
<td><strong>Cost</strong></td>
<td>Project plan</td>
<td>Stage Plan</td>
<td>Work Package</td>
<td>N/A</td>
</tr>
<tr>
<td><strong>Quality</strong></td>
<td>Project Product Description</td>
<td>N/A</td>
<td>N/A</td>
<td>Product Description</td>
</tr>
<tr>
<td><strong>Risk</strong></td>
<td>Risk Management Approach</td>
<td>Stage Plan</td>
<td>Work Package</td>
<td>N/A</td>
</tr>
<tr>
<td><strong>Benefits</strong></td>
<td>Business Case</td>
<td>N/A</td>
<td>N/A</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</figure>



<ul class="wp-block-list">
<li><strong>Dividing the project into management stages and authorizing the project one stage at a time.</strong></li>
</ul>



<p>Management stages are partitions of the project with management decision points. Project is divided into many management stages and the Project Board authorizes <em>one </em>management stage of the project at a time. In a <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a>® project minimum 2 management stages are required. Decision on number of stages is taken by Project manager in consultation with Project Board.</p>



<ul class="wp-block-list">
<li><strong>Report and review progress through Time-driven reports</strong></li>
</ul>



<p>(Take place at predefined periodic intervals. For example, producing monthly Highlight Reports for the Project Board) and Event-driven reports (Take place when a specific event occurs. For example, the end of a stage)</p>



<ul class="wp-block-list">
<li><strong>Raise exceptions whenever required.</strong></li>
</ul>



<p>There can be exceptions when tolerances at one or more levels exceed it&#8217;s agreed limit.</p>



<p>An exception is a situation where it can be forecast that there will be a deviation beyond the agreed tolerance levels </p>



<p>Exceptions can happen at three levels:</p>



<ul class="wp-block-list">
<li>Work-Package-level exceptions </li>
<li>Stage-level exceptions </li>
<li>Project-level exceptions<strong> </strong></li>
</ul>



<p>Depending on the exception level appropriate authority takes action or decision. Like in case of work package level exception Project Manager will advise of any corrective actions required. </p>



<p>In case of Stage-level exceptions Project manager refers the case to Project board for decision making.</p>



<p>Please remember that when project tolerances are forecasted to be exceeded, the <em>Project Board </em>no longer has the authority to manage the project and must refer the matter to <em>corporate or programme management </em></p>
<p>The post <a href="https://effectivepmc.net/blog/track-progress-in-a-typical-prince2-project/">How to Track Progress in a Typical PRINCE2® Project?</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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			</item>
		<item>
		<title>Rich Communication with PRINCE2 Agile®</title>
		<link>https://effectivepmc.net/blog/rich-communication-with-prince2/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Fri, 05 Mar 2021 14:55:32 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Agile]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Agile]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Rich Communication with PRINCE2®]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=8811</guid>

					<description><![CDATA[<p>Rich Communication with PRINCE2 Agile® The most common problem faced by people working on projects is ‘Communication problem’. There are many communication problems that can occur on a project resulting in delays and mis-communication of information and mis-use of resources. There are various ways in which information and knowledge can pass between project stakeholders in [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/rich-communication-with-prince2/">Rich Communication with PRINCE2 Agile®</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<h1>Rich Communication with PRINCE2 Agile®</h1>
<p>The most common problem faced by people working on projects is ‘Communication problem’. There are many communication problems that can occur on a project resulting in delays and mis-communication of information and mis-use of resources.</p>



<p>There are various ways in which information and knowledge can pass between project stakeholders in the most effective way. This information flow needs to be managed effectively. Effective communication is very important to the <a href="https://effectivepmc.net/blog/what-is-agile/">Agile</a> way of working. </p>



<p>Communication can happen in many different ways as people interact differently during different situations. Like an Email notification to the team informing about an event or meeting. or a workshop to brainstorm and resolve an issue.</p>



<p><strong>PRINCE2® identifies different communication channels as follows:</strong></p>



<ul class="wp-block-list">
<li>The written word</li>
<li>Visualization (video)</li>
<li>Verbally, by telephone</li>
<li>Verbally, face-to-face</li>
</ul>



<h3 class="wp-block-heading" id="h-the-prince2-agile-approach-to-communication"><strong><u>The PRINCE2 Agile® approach to communication:</u></strong></h3>



<p>In order to achieve the effective &amp; productive communication on a project, it is important to set up rules for compunction Like the most appropriate time or using the appropriate method</p>



<p><strong>Communication problems need to be proactively addressed by the project manager. A high level guideline or rule for communication are:</strong></p>



<ul class="wp-block-list">
<li>Face-to-face communication should be favored as a faster and clearer channel</li>
<li>Technology and the level of formality needed by project needs to be assessed</li>
<li>There is a role for the written word but it has disadvantages</li>
<li>A project manager or team manager needs to be aware of how a team is communicating</li>
<li>Communication needs to be organized and planned.</li>
</ul>



<p>PRINCE2 Agile® gives a lot of importance to communication because in order to succeed with <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2®</a> in an agile environment effective communication is essential. When communication links are weak or they break down in an agile context, it can be very damaging for the project.</p>



<p><strong>1. Choosing the most appropriate channel:</strong></p>



<p>It is very important to choose appropriate channel communication. One of the most effective ways to improve communication is to convey a message at the right time to right people with the right media. The type and frequency of communication need to be agreed by the project management team and the level of formality agreed. PRINCE2®&#8217;s communication management approach helps us to manage this.</p>



<p><strong>2. The difficulties with the written word</strong></p>



<p>Most of the time information in the form of the written word is a formal way of communication but human beings find it difficult to process if the volume of information is more.</p>



<p>If the team keeps on communicating with formal media of written word &#8230; like an email instead of verbal or other media, then teams time and energy takes a toll affecting the Team bonding and Soul.</p>



<p><strong>3. Getting the right blend</strong></p>



<p>PRINCE2® stresses on the point that document only when necessary. It also describes management products as ‘information sets’ and not documents. As an agile team needs to work faster due to the iterative and adaptive nature of agile, extensive use of face-to-face interaction, visualisations and workshops or video is needed. But this does not mean there is no place for formal or written communication. PRINCE2® &#8216;s Management products like <a href="https://effectivepmc.net/blog/tracking-business-case-in-prince2/">Business case</a>, Plans tailored according to need and scale of the project need to be used to record decisions and information with Face to face Communication.</p>
<p>The post <a href="https://effectivepmc.net/blog/rich-communication-with-prince2/">Rich Communication with PRINCE2 Agile®</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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			</item>
		<item>
		<title>PRINCE2 Agilometer</title>
		<link>https://effectivepmc.net/blog/prince2-agilometer/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Thu, 25 Feb 2021 07:12:46 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Agile]]></category>
		<category><![CDATA[PRINCE2 Agilometer]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Prince2 Training]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=8796</guid>

					<description><![CDATA[<p>PRINCE2 Agilometer For a PRINCE2 project it is recommended that Suitability of Agile is assessed throughout the project life (In agile terms mostly during retrospectives). Most of the time the project situations are different affecting usage or working of Agile. Like the level of uncertainty involved or technology used or trust between the stakeholders.  To [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/prince2-agilometer/">PRINCE2 Agilometer</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<h1>PRINCE2 Agilometer</h1>
<p>For a PRINCE2 project it is recommended that Suitability of Agile is assessed throughout the project life (In agile terms mostly during retrospectives).</p>



<p>Most of the time the project situations are different affecting usage or working of <a href="https://effectivepmc.net/blog/what-is-agile/">Agile</a>. Like the level of uncertainty involved or technology used or trust between the stakeholders. </p>



<p>To assess the agile environment in order to tailor <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a> in the most effective way to work with agile, PRINCE2 Agile guidance suggests using an assessment tool called &#8220;Agilometer&#8221;. Use of Agilometer helps you make an informed decision.</p>



<p>The Agilometer looks at six key areas or categories indicating risk areas using agile. The project manager is responsible for figuring out what values should be given to each category after consulting the required stakeholders. Each category is represented on the Agilometer figure by a slider. These Key areas are as follows:</p>



<ul class="wp-block-list">
<li>Flexibility on what is delivered</li>
<li>Level of collaboration</li>
<li>Ease of communication</li>
<li>Ability to work iteratively and deliver incrementally</li>
<li>Advantageous environmental conditions</li>
<li>Acceptance of Agile</li>
</ul>



<figure class="wp-block-image"><img decoding="async" src="https://lh6.googleusercontent.com/d9pDf-RBCbNrdoik1BX_UD1UGSP---sNcgRB_qwGuLhdKVUbRJZ_I7LJ7lrsE5FP1PJ3TJy_U9BsB391KFGR_8Xl_KKr2-ubfQzGZNDzid5hJp7j8W_jn92nkrX-fslpyWwzEg0" alt="PRINCE2 Agilometer" /></figure>



<p class="has-cyan-bluish-gray-color has-text-color" style="font-size: 11px;">Copyright © AXELOS Limited 2017 Reproduced under license from AXELOS. All rights reserved</p>



<h3 class="wp-block-heading" id="h-how-should-agilometer-be-used-to-assess-the-suitability-agile-environment-of-the-project">How should Agilometer be used to assess the suitability agile environment of the project?</h3>



<p>&nbsp;</p>



<p>The project manager with the help from the project team and its stakeholders should consider each Category separately. Each Category is assessed on a Scale of 1 to 5 or Low to High. A low level (1) in the Agilometer represents a high risk, while the highest level (5) represents the lowest risk. If you assess the Slider Category at Level 5, then it is the most ideal situation to apply Agile way of working.</p>



<p>After using the Agilometer PM creates an assessment. Next step after the assessment is to review and see what can be done to improve the sliders and shift them further to the right. i.e. Towards Level 5 or High.</p>



<h3 class="wp-block-heading" id="h-what-you-can-expect-from-agilometer">What You Can Expect from Agilometer:</h3>



<p>&nbsp;</p>



<h4 class="wp-block-heading" id="h-1-flexibility-of-what-is-delivered">1. Flexibility of what is delivered</h4>



<p>Customers Need to understand that not everything can be delivered. So many times there is a need for training and education. Also prioritization methods Like MoSCoW will be used to decide which Requirement ore needs are must and which probably are not needed at all.</p>



<h4 class="wp-block-heading" id="h-2-level-of-collaboration">2. Level of collaboration</h4>



<p>The purpose of this slider is to investigate reasons why people may be reluctant to collaborate.  This applies to the development team, as well as customer and supplier relationships. Having Slider at level 5 indicates that there is “One Team” culture and High levels of trust exist.</p>



<h4 class="wp-block-heading" id="h-3-ease-of-communication">3. Ease of communication</h4>



<p>Agile suggests that more informal communication. The environment is said to be ‘communication rich’ if there is a lot of face-to-face interaction and visual information is readily available for all its stakeholders.</p>



<p>So Check here how you communicate. It is recommended that face-to-face communication. Also Formal communication and reporting kept to limited.</p>



<h4 class="wp-block-heading" id="h-4-ability-to-work-consistently-and-deliver-incrementally">4. Ability to work consistently and deliver incrementally</h4>



<p>Value has to be delivered to customers early or in incremental steps or stages. Incremental or Step deliveries provide great opportunities for learning and improvement and also to experiment, explore from any mistakes. Check how you are delivering this Value to customers incrementally.</p>



<h4 class="wp-block-heading" id="h-5-advantageous-environmental-conditions">5. Advantageous environmental conditions</h4>



<p>The overall working environment should be very supportive of working in an agile way. Typically, an ideal situation is where people are assigned full-time to work on the project and their skills should be appropriate. Check all you environmental parameters here.</p>



<h4 class="wp-block-heading" id="h-6-acceptance-of-agile">6. Acceptance of agile</h4>



<p>Stakeholders involved in the project also need to have a good understanding of agile way of working. They should be fully aware of the behaviours, concepts and techniques of working in an agile way. They have been trained and have experience in agile would be advantageous.</p>
<p>The post <a href="https://effectivepmc.net/blog/prince2-agilometer/">PRINCE2 Agilometer</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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			</item>
		<item>
		<title>The Difference Between PRINCE2® and PRINCE2 Agile®</title>
		<link>https://effectivepmc.net/blog/the-difference-between-prince2-and-prince2-agile/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Tue, 02 Feb 2021 14:11:54 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Agile]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Agile]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Prince2 Training]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=8753</guid>

					<description><![CDATA[<p>The Difference Between PRINCE2® and PRINCE2 Agile® PRINCE2®, stands for Projects In a Controlled Environment. It is a very widely accepted project management methodology which was at first created as a UK government standard for IT projects. Later it&#8217;s popularity made it applicable across many industries. Now PRINCE2 is recognized as a generic project management [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/the-difference-between-prince2-and-prince2-agile/">The Difference Between PRINCE2® and PRINCE2 Agile®</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<h1>The Difference Between PRINCE2® and PRINCE2 Agile®</h1>
<p>PRINCE2®, stands for Projects In a Controlled Environment. It is a very widely accepted project management methodology which was at first created as a UK government standard for IT projects. Later it&#8217;s popularity made it applicable across many industries.</p>



<p>Now <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a> is recognized as a generic project management method, suitable not just for IT projects but projects across all sectors, private as well as public sectors internationally (Mainly in the UK / Australia)</p>



<p>PRINCE2® describes End to end method for project management. It suggests that you can control your projects, by dividing them into manageable stages and Managing One Stage at a time by Setting Tolerances for each Management Level in the Governance.</p>



<p><strong>Let&#8217;s look at the difference between PRINCE2® and PRINCE2® Agile certification.</strong></p>



<p>In 2015, <a href="https://www.axelos.com/">AXELOS</a> launched PRINCE2 Agile. It was developed to help professionals tailor management controls when working in an agile environment. PRINCE2 Agile combines two frameworks within the Project Management domain &#8211; PRINCE2 and Agile. It combines the flexibility of agile with the governance of PRINCE2. It focuses on how we can tailor PRINCE2 to adopt Agile working practices to ensure success in project environments.</p>



<p>The core of PRINCE2 is PRINCIPLES, <a href="https://effectivepmc.net/blog/prince2-themes/">THEMES</a> and <a href="https://effectivepmc.net/blog/prince2-processes/">PROCESSES</a>. Both PRINCE2® and PRINCE2 Agile® cover these 2 Core aspects &#8211; principles, processes and themes.  But the main difference between PRINCE2® and PRINCE2® Agile certification is that PRINCE2 Agile guidance describes how PRINCE2® elements can be tailored for an agile environment.</p>



<p>The PRINCE2 controlled environment which has principles, themes and processes are then complemented by five Agile behaviours. The main focus is on purpose &amp; tailoring / adopting documentation with flexible control mechanisms to deliver required results. It also encourages communication and collaboration between the management level and Team.</p>



<p>It also focuses on Creating Value for the Customers. With that PRINCE2 Agile certification also covers wide range of Agile concepts and techniques Like <a href="https://effectivepmc.net/blog/scrum/">Scrum</a>, <a href="https://effectivepmc.net/blog/what-is-kanban/">Kanban</a> and <a href="https://effectivepmc.net/blog/what-is-lean/">Lean</a> Start-up principles.</p>



<p><strong>PRINCE2® Certification comprises different levels. They are :</strong></p>



<ul class="wp-block-list">
<li>PRINCE2® Foundation</li>
<li>PRINCE2® Practitioner</li>
<li>PRINCE2® Agile Foundation (For Agile Projects)</li>
<li>PRINCE2® Agile Practitioner (For Agile Projects)</li>
</ul>



<p><strong>PRINCE2 Agile Foundation</strong></p>



<p>PRINCE2 Agile Foundation is for individuals who are new to PRINCE2 and are working in or around an agile project environment. It aims to cover overview of PRINCE2, an introduction to agile and how to apply the two together</p>



<p><strong>PRINCE2 Agile Practitioner</strong></p>



<p>Candidates who are already certified in either PRINCE2 or PRINCE2 Agile Foundation levels can appear for PRINCE2 Agile Practitioner. It aims to explores practical application of the PRINCE2 Agile method in different project environments and scenarios</p>



<p><strong>PRINCE2 Foundation</strong></p>



<p>The Foundation certification aims Check if you know and understand the PRINCE2 method well enough to be able to work effectively as a member of a PRINCE2 project management team. </p>



<p><strong>PRINCE2 Practitioner</strong></p>



<p>Candidates who are already certified in PRINCE2 Foundation level can appear for PRINCE2 Practitioner. The Practitioner certification aims to confirm whether you have sufficient understanding of how to apply and tailor the PRINCE2 method in different project environments and scenarios.</p>
<p>The post <a href="https://effectivepmc.net/blog/the-difference-between-prince2-and-prince2-agile/">The Difference Between PRINCE2® and PRINCE2 Agile®</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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		<item>
		<title>PRINCE2 Principles</title>
		<link>https://effectivepmc.net/blog/prince2-principles/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Fri, 22 Jan 2021 05:46:34 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Prince2 Principles]]></category>
		<category><![CDATA[Prince2 Training]]></category>
		<category><![CDATA[Project Management Method]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=8705</guid>

					<description><![CDATA[<p>PRINCE2 Principles PRINCE2 project management method aims to provide a method to projects that can be applied to projects regardless of it&#8217;s type, organization, scale, geography or culture. This is possible because PRINCE2 method is principles-based. You can relate Principles as a good practices across different industries for managing a project. A project is characterized [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/prince2-principles/">PRINCE2 Principles</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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<h1>PRINCE2 Principles</h1>
<p>PRINCE2 project management method aims to provide a method to projects that can be applied to projects regardless of it&#8217;s type, organization, scale, geography or culture. This is possible because <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a> method is principles-based. You can relate Principles as a good practices across different industries for managing a project.</p>



<p>A project is characterized as a PRINCE2 project based on whether the project <strong>adopts to these principles </strong>or not. There are 7 Principles defined in PRINCE2 method:</p>



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<td><strong>Principle </strong></td>
<td><strong>Description </strong></td>
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<td>Continued business justification </td>
<td><strong><em>A PRINCE2 project always has a continued business justification. </em></strong>It is always needed that for a PRINCE2 project : There is a justifiable reason to start the project.  The justification remains valid throughout the life of the project and the justification is documented and approved. </td>
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<td>Learn from experience </td>
<td>A PRINCE2 project teams always learn from their previous experience. It is needed that these lessons learnt are sought, recorded and acted upon throughout the life of the project by the project teams. </td>
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<tr>
<td>Defined roles and responsibilities </td>
<td>A Project has many and varied stakeholders. So it is a need of a PRINCE2 project that it should define and agree roles and responsibilities within an organization structure that engages the all it&#8217;s stakeholder interests categorized under business, user and supplier  </td>
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<td>Manage by stages </td>
<td>A PRINCE2 project is planned, monitored and controlled on a stage-by-stage basis. A stage is considered as a Management stage provides senior management with <strong>control points </strong>at major intervals throughout the project. These control points allow them to review the project progress at regular intervals. Shorter stages offer more control, while longer stages reduce the burden on senior management. Planning can only be done to a level of detail that is <strong>manageable and foreseeable</strong>. A great deal of effort can be wasted on attempts to plan beyond a sensible <strong>planning horizon</strong>. PRINCE2 overcomes the planning horizon issue by Dividing the project into a number of management stages </td>
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<td>Manage by exception </td>
<td>A PRINCE2 project has defined tolerances for each project objective to establish limits of delegated authority. PRINCE2 enables appropriate governance by defining distinct responsibilities for directing, managing and delivering the project and clearly defining accountability at each level. Accountability is established by: Delegating authority from one management level to the next by setting tolerances against six objectives for the respective level of the plan: Time, Cost, Quality, Scope, Risk and Benefit. Setting up controls so that if those tolerances are forecast to be exceeded, they are immediately referred up to the next management layer for a decision on how to proceed Putting an assurance mechanism in place so that each management layer can be confident that such controls are effective. This implementation of ’management by exception’ provides for very efficient use of senior management time </td>
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<td>Focus on products </td>
<td>A PRINCE2 project always focuses on defining and delivering products. This approach is called as Product based Planning. It allows project to deliver the products in specific their quality requirements as per customers quality expectations.</td>
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<td>Tailor to suit the project </td>
<td>PRINCE2 method recommends that your project should be tailored to suit the project’s need of environment, size, complexity, importance, capability and risk. The main purpose of tailoring the project is to: Ensure that project controls are based on the project’s scale, complexity, importance, capability and risk. <br />If PRINCE2 project is not tailored, it is possible that the project management effort and approach are not appropriate for the needs of the project. This may lead to project management efforts being leaning towards ’robotic’ management (the method is followed without question) or ’heroic’ project management (the method is not followed at all). </td>
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<p>The post <a href="https://effectivepmc.net/blog/prince2-principles/">PRINCE2 Principles</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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		<title>Tracking Business Case in PRINCE2</title>
		<link>https://effectivepmc.net/blog/tracking-business-case-in-prince2/</link>
		
		<dc:creator><![CDATA[Archana Shinde]]></dc:creator>
		<pubDate>Mon, 18 May 2020 08:47:20 +0000</pubDate>
				<category><![CDATA[PRINCE2]]></category>
		<category><![CDATA[Prince2]]></category>
		<category><![CDATA[Prince2 Certification]]></category>
		<category><![CDATA[Prince2 Training]]></category>
		<category><![CDATA[Tracking Business Case in PRINCE2]]></category>
		<guid isPermaLink="false">https://effectivepmc.net/?p=6325</guid>

					<description><![CDATA[<p>Tracking Business Case in PRINCE2 PRINCE2 stresses that a project should have a valid business case. The purpose of the Business Case is to judge whether the project is (and remains) desirable, viable and achievable. Which aids to support decision making in projects continued investment. The business justification is the reason for the project. it [&#8230;]</p>
<p>The post <a href="https://effectivepmc.net/blog/tracking-business-case-in-prince2/">Tracking Business Case in PRINCE2</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
]]></description>
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<h1>Tracking Business Case in PRINCE2</h1>
<p>PRINCE2 stresses that a project should have a valid business case. The purpose of the Business Case is to judge whether the project is (and remains) desirable, viable and achievable. Which aids to support decision making in projects continued investment.</p>



<p>The business justification is the reason for the project. it should be recorded in a Business Case documents / Management Product. Without proper business justification or business case no project should start. If business justification is valid at the start of a project, but changes or does not remain valid once it is under way, the project should be stopped or changed.</p>



<p>In <a href="https://effectivepmc.net/blog/what-is-prince2/">PRINCE2</a>, the Business Case is developed at the start of the project and maintained throughout the life of the project. It is formally verified by the Project Board at each key milestone or decision point.</p>



<p><strong>Lifecycle of Business Case covers :</strong></p>



<p>Develop Business Case &#8211; Getting the right information upon which decisions can be made.</p>



<p>Verifying Business Case &#8211; Assessing whether the project is and remains worthwhile to continue.</p>



<p>Maintain Business Case &#8211; Update the Business Case with actual costs and benefits and current forecasts for costs and benefits.</p>



<p>Confirm Benefits &#8211; assessing whether the intended benefits have been realized or will realize. Mostly confirming benefits will take place post project.</p>



<p>While confirming benefits it is likely that many benefits will not be realised until after project has closed. To track the benefits post project, PRINCE2 suggests use of Benefits Management Approach. The project’s Benefits Management Approach defines the scope, timing and responsibility of a number of reviews based on the timing and nature of the expected benefits.</p>



<p>To conclude we need to track Business justification and benefits arising out of the project to ensure that project provides value for money. And the purpose for which it is initiated is not lost.</p>
<p>The post <a href="https://effectivepmc.net/blog/tracking-business-case-in-prince2/">Tracking Business Case in PRINCE2</a> appeared first on <a href="https://effectivepmc.net">World Of Agile</a>.</p>
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