In the past, there was a time when project management comes with simple principles. But project management situation of currents era, the principals have become a lot more detailed and comes with a vast number of guidelines and methodologies.
There are various types of tools, methodologies, and techniques that are the reason behind the structure of the project management. And Prince2 is one of the methods that governing landscape of project management.
If you’re not known about Prince2, then this article will help you to know about Prince2. In this article, we will cover the essentials that will assist you in developing a basic knowledge of what Prince2 requires.
Prince2 is a word that has its origins in projects in controlled environments. Also, prince2 is a structured project methodology. Even, Prince2 also have certification that certifies the project managers after practice.
Lately, it was developed as a standard of the UK government information system then its evolved into project management methodology. And now, more and more organisations in the private sector are adopting the Prince2 methodology to manage the projects effectively.
The project management methodology Prince2 is one of those methodologies that fits best with your project scale and type. It is due to Prince2 feature that allows it to get adapted with the different requirements.
Not like other project management methodologies that follow rigid and standard approach; Prince2 follows the processes, principals, and themes to make sure that it is capable of getting fit in different types of the project environment.
Prince2: 7 Principles
The Prince2 methodology holds seven key principles, and those are:
- Continuous Business Justification.
- Experience Based Learning.
- Explain Roles and Responsibilities
- Handle In Stages
- Handle In Exception
- Product based focus.
- Modify to fit the environment of Project
Prince2: 7 Themes
The seven themes around which Prince2 methodology rotates are:
- Business Case
Prince2: 7 Processes
There are seven recognised processes in Prince2 that helps in the management of the project. And these processes are as follows:
- Project Starting
- Project Initiation
- Project Directing
- Stage Management
- Product Delivery Management
- Within the Stage Boundary
- Project Closing
Certification of Prince2
In the Prince2 certification, there are different levels that are necessary for the applicant to pass for becoming certified Prince2 professionals. So, let’s discuss the various level that comes in the Prince2 certifications:
Foundation level of Prince2
In the Prince2 certification level, the first level is known as foundation level. At this level, applicant attains basic knowledge about Prince2. Also, the certification means that a certified applicant is now ready to work with a project management team.
In the foundation level, the applicant needs to attempt 75 multiple choice question within one hour. And to pass the examination the applicant needs to score at least 35 marks or 50%.
Practitioner level of Prince2
Next stage in the certification is the Practitioner level, and to access this level it necessary for the applicant to pass the foundation level. Once the applicant passes the first level, he/she can appear for the Practioner level.
At the practitioner level, the certified applicant is skilled with the implementation of the Prince2 methodology in various environments of the project. There are ten topics on which eight questions are there, and the applicant has to answer those questions.
It is necessary that applicants must score 55% or more to pass the Practitioner exam. Moreover, practitioner exam is an open book exam, so the applicant can also use the Prince2 manuals.
Professional level of Prince2
Once you have passed the Practitioner level of Prince2, then the applicant will appear for the next level. Professional level of Prince2 is the next stage in Prince2 certification. On this level, applicants have to spend 60 hours at the residential assessment centre.
The exam on this level holds exercise based group activities; also applicants need to solve a case study. As a result, completing certification of Prince2 an applicant will be easily able to manage a simple project and all its aspect during the project lifecycle.
Exam Cost of Prince2 Foundation
The exam cost of Prince2 foundation changes every year. In the year 2018, the cost of foundation exam of Prince2 is £300 (343 USD). Also, the practitioner exam cost you £378 (433 USD). The applicants who are registering again for the exam will have to pay £273 (312 USD).
Comparison with PMP
Prince2 centres around a method of PM and point by point process-based methodology whereas, PMP covers a wide range of subjects dependent on PMBoK (Project Management Body of Knowledge). The test cost and nature are totally different.
In the PMP test, you got 4 hours to attempt 200 questions with multiple-choices and to pass the exam the applicant need to score 62%. Also, passing marks depend on the level of Prince2 certification you are applying, other factors such as the number of questions, time to complete the exam and passing percentage are less than PMP.
A Prince2 is recognised by UK based organisation, whereas PMP is recognised by PMI, which is a US-based organisation.
Utilisation of Prince2 Methodology
The most significant advantage of Prince2 methodology has over other PMM is its adaptability and flexibility. It tends to be compatible with a wide range of project whether it is small or some large scale.
Although, it is difficult to understand how the processes and method can encourage your project. If you apply your learned concepts in the practices, then you can apply it to each project.
In the wake of reading this guide on Prince2 methodology, you may have obtained all the fundamental information related with Prince2. This article will surely help you to construct a superior understanding of the fundamentals of Prince2 and allow you to explore the discussed strategy more briefly. The article holds everything from processes, principles, themes, applications to certification levels and Prince2 certification cost. Furthermore, there is a short comparison between PMP and Prince2.