PRINCE and PRINCE2 Frameworks in Management and Business Strategy Essay

PRINCE and PRINCE2 Frameworks in Management and Business Strategy - Essay ExampleThis solicitude method was initially developed for function in IT projects (PRINCE) but has since been expanded in scope to mickle with project management in any type of organization (PRINCE2). This report will focus in general on PRINCE2 since this method is more extensive and applicable to all kinds of organizations.PRINCE2 is owned by the United realm Office of Government Commerce or OGC, and it is in the public domain, which means it is free and available for use by anyone (Office of Government Commerce, 2005). The only potential cost incurred when utilizing PRINCE2 is the cost of training and certification (see the APM Certification in PRINCE2 section below).When a client addresses a problem and contracts a company to remedy their problem, the PRINCE2 method butt joint be employ to set the framework for how the resulting project is to proceed. The objective of PRINCE2 is to allow newly minted businesses to start aside successfully, by learning from their predecessors mistakes, rather than to reinvent the wheel, per se, of project management. In effect, PRINCE2 is available to facilitate the most streamlined and directed project management possible. ... The top problems were, unclear direction, over- or under-worked staff, people and equipment not available when needed, process or wasted effort, final tasks were rushed, poor quality work, problems late and overspent, small problems had a big clashing (Bentley, 2003). This is rooted in a number of sources, including customer involvement, coordination, communication, planning control, progress, and quality control (Bentley, 2003). Although it may have the appearance _or_ semblance that businesses should easily overcome these problems out of common sense, the reality is that many businesses do not know the prim way to consistently apply their past mistakes to problematic issues that regularly arise. The PRINCE2 framew ork crowd out be used as a robust, adaptable system that project managers can consult throughout each compass point of a project.There are eight steps, or phases, in the PRINCE2 method. These phases, which constitute the Business Case (i.e. the confession for the project) must be carried out fully to ensure that the end product is high-quality, generated in the allotted meter of time, and utilizes only the funds that are allocated for it (Office of Government Commerce, 2005 Getronics, 2003). The first step is called the start-up phase, during which project managers decide whether or not to accept the project desired by the customer, based on their own resources and capacity. Essentially, the managers address the question, Is this project worthy doing, and, if yes, are we fully equipped to complete it This is an important phase during which the feasibility of the project is assessed and the company decides whether they can aptly handle the requests of the customer in the time al lotted.