Wednesday, 1 September 2010

PRINCE2: Conclusion and final words.

Over the last four days we've been discussing a lot of the theory behind PRINCE2 from its fundamental approach to how it is utilised. This is an important aspect of many organisation's activities (project management) as almost-all ventures are projects of a sort.

So what can we learn from the PRINCE2 approach?
Well, initially we can see that while it's an entirely generic and flexible approach it can be applied to many projects successfully. All too often these kinds of approaches are lacklustre and falter where you need them most- PRINCE2, however, delivers where you need it most.
This is because while it is entirely generic and you can apply it to just about anything, there's also an element of framework and procedures that are generally followed in every project. Not limiting the project managers at all, but instead, providing a great deal of flexibility to their work.

One of the lesser realised aspects of project management is that you aren't always under the strictest of deadlines, but you are always under the pressure of whether it continues to be viable.
For example, were you to notice a gap in a market and realise that you could create a low-cost product to fill that gap- will it remain low-cost throughout production? Will you realise this project? Or is there an element of doubt here? Too often you can get caught up in actually producing the product to see whether it is actually a viable option or not.

Even if it began as a viable idea.

Understanding the nature of business.
PRINCE2 also takes into account the guaranteed risks and elements of business practice. Risks always exist, even if you choose to stay firm and not spend your profits you're risking the loss of business you could achieve by expanding. Too many times people try to justify that they can create "risk-free" situations, which, in reality, are not possible as even employing staff has risks.

Thereby, because of a combined number of business principles and a practical yet flexible framework that allows organisations to keep track, but be creative, this is a great method of project management one of the most successfully recognised.
Actions speak louder than words, after all- and results speak loudest.

So why have project management in the first place?
As mentioned above almost-all ventures are a project of some kind, or can be likened to one, even as far as employing some new staff or buying new stock.
When does it need to be done? What are the risks? What do we do if it isn't? Who is in charge? What is our window of opportunity? We need to decide and understand these things before anything can be successful, otherwise we're just wasting time and resources. Putting people in place for no reason, or without some aspect of realising an aim, is just as useless as doing nothing.

Project management is just a means to an end, but a means to a very important end that can actually turn out to be more profitable than expected if done right.

Thank you for your time and thank you for reading!
We hope this information has been useful, interesting and can inspire some kind of change of ideals with some organisations out there. As, after all, we all want to be more successful.

All information presented here is © copyright Carkean Solutions Ltd., 2010 - Not to be used without our permission - The views expressed here are the views of an individual not the corporation

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