When there is a need to evaluate the performance of each component to connect them together for the best results we need to look at themes. This will determine how to correctly connect individual elements to their best ability to other elements for a productive result.
One such thing in managing projects is called Prince2 themes.
Prince2 principles, themes, and processes work closely with each other in making the entire management successful.
There are 7 Prince2 themes as discussed below in the bottom up order. We are walking you through an approach where you understand the last but the most important theme first and reach to the business case eventually. Remember to start from theme1 once you master these themes correctly.
Theme7: Progress - This theme is used while controlling and managing the project by measuring and monitoring the progress and other data-driven checkpoints in the project.
1. Time driven - occurs at regular intervals example milestones, checkpoints, etc
2. Event-driven - occurs at certain events that have happened such as Issue log, exception report, etc.
3. Besides, there are 4 types of reports namely, Checkpoint report, Highlight Report, End-stage report, and End project report.
Theme6: Change - These are events where there needs to be an action to control the course of the project in the right direction. Here the products might be off the mark and must identify, analyze, and control the products by doing some changes.
Theme5: Risk - Here the uncertainty in the project is analyzed and suitable responses are made to the project for the successful outcome.
1. Risk appetite is a unique capability of handling the risk of the organization
2. Risk Budget is the cost allocated for the risks responses
3. Risk Tolerance is the threshold risk that one exceeds causes an exception report.
Step1 - Identify the risks
Step2 - Assess risk, for example, the Impact values and Probability values
Step3 - Risk treatment plan
Step4 - Treat the risks
Step5 - Implement the risk responses
Step6 - communicate
Theme4: Plans - The plans define answers to the questions how, when, where, and by whom and for how much.
1. Project plan which species the scope, roles, time, costs or budget, and project control data points. This plan gets updated at every stage of the project whenever there are changes.
2. Stage plan for the day-to-day management of the project
3. Team Plan for the work done by the team
1. Money for the activity, for responses to the risks, Cost tolerances, to fund the authorized changes, and for the contingency plans
1. Project descriptions
2. Work breakdown structure
3. Product workflow diagram
Theme3: Quality - The supplier organization has to check at each step and stage of the projects whether the products or services that are produced are fit for purpose.
Theme2: Organization - Use of this theme is to define various roles in the organization.
Prince2 recommends that communication management documents be written that identifies all the stakeholders
Theme 1: Business case - Here the high-level business case is specified with the continued business justification principles. The use is to achieve the business needs to make sure that the project that they are going to pursue has some business benefits such as profits and realization of the business goals and objectives. So the first step is to define the business case in detailed sentences. Think about the outputs, outcomes, and benefits of the projects. The project must see positive results from this project which is the outcome of the project. Benefits are profits, achieving the business goals and objectives, and customer retention, and customer satisfaction. Outputs are the deliverables that are provided to the customer on completing the project.
The benefits get measured in the benefits management approach.
At the minimum, the project must create the business case and update that in all the stages of the project life cycle. Then you must analyze whether there is a realization of the business outcomes and benefits. Finally, you must maintain and update the Benefits management approach.
Register with Staragile Prince2 certification to learn how to work with prince2 principles and themes for successful project management.
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