ABILITY Of PRINCE2

Ability Of PRINCE2 To Improve The Management Of Knowledge In International It Project

Abstract

The research was aimed at analyzing how the project management practices can be integrated with PRINCE2 methodology to manage different types of projects using generic structured approach. The research concludes that the use of a structured framework like PRINCE2 provides systematic information gathering and a sequence of logical steps based on a general problem solving approach that increases the potential of a successful improvement project. This approach allows repeatability and reliability of improvement efforts that can be fed back with experiences and lessons learned from previous projects. Though the PRINCE2 processes provides the flexibility and standardized approach but it is important for the project managers to identify which processes would benefit from standardisation, the degree of standardisation that is appropriate and devising the standards to be put in place. Standardized processes lead to more efficient outcomes but if the required outcomes are variable, standardisation may lead to reduced effectiveness. Research showed that if the organizations already have elements of best practice, successful implementation of PRINCE2 should be build on this, not replace it. To be successful and add value, PRINCE2 implementation must take into account organizational culture, capability and business needs. Implementing PRINCE2 is about managing change within the organization and developing a core competency in project management. Successfully done it enables the organization to deliver its business critical goals and develop a sustained competitive edge. Despite enormous benefits that can be achieved by using PRINCE2, adopting PRINCE2 does not solve all problems faced by projects. Projects by their very nature are unique, often complex and typically significant pieces of work. They carry risk in terms of what happens if a project fails to deliver etc. and so they require experienced, competent people, committed management and appropriate support, as well as a clearly defined set of processes, products, and organization structures. Projects are about people and methodologies like PRINCE2 tend to focus on the mechanism of the management activity. There should be a balance between this mechanism with due emphasis on skills required to manage the organizational change that any project will inevitably bring about. Research concluded that the methodologies are frameworks and nothing more. Though it is tried and tested structured approach that will give a sound basis for running a successful project. It is not however a substitute for creativity. Projects are always unique; they necessarily involve uncertainty and risk and they will require all flexibility and ingenuity if they are to succeed. That is what is exciting about managing a project.

Table of Contents

Abstract2

Table of Contents4

CHAPTER I5

Introduction5

Background of the study5

Aims and Objectives7

Aim7

Objectives7

Research methods7

Research design9

Objective Driven Research Design9

Structure of dissertation10

Summary of chapter 110

Summary of the chapters11

Summary11

CHAPTER II12

Literature Review12

Introduction12

Projects12

Project Management21

Why Use A Project Management Method?22

Background to the Methodology P24

Introduction to the PRINCE2 Methodology26

The Process-Based Approach27

Components32

Techniques34

Key Elements36

Driven by the Business Case36

Scalability37

Stages37

The Scope of Prince238

Strengths of PRINCE238

Limitations40

Chapter III43

Research Methodology43

Summary44

CHAPTER IV45

Data Collection and Analysis45

Introduction45

Generic and Standardized46

PRINCE2 as an Organizational Standard49

Big Savings Savings in using an existing50

Introducing PRINCE250

How Generic Are ...