PRINCE2® uses a model that consists of 8 management components.
The components are supported by a number of management processes which are discussed elsewhere.
These components must be managed for successful project management.
These components are:
PRINCE2 controls projects via the Business Case. The Project Board must approve it not only before the project begins but at key intervals prior to the next stage beginning. Should the viability of the Business Case go then the project should be stopped.
Risk in a project must be assessed. PRINCE2 allows milestones at which to assess risk and provides methods for doing so. PRINCE2 does not go into ‘risk assessment’ in greater depth which can be found in 'The Complete Risk Management package'.
PRINCE2 incorporates a quality approach for the management of the project an technical processes. It start with the Customer.
Knowing the Customer expectations standards are then produced with inspection methods making sure they are n place.
The final product will go through many stages and changes prior to completion. There will need to be control of versions and individual components. This control is known as ‘configuration management. PRINCE2 indicates one method of many that will integrate with other Prinec2 processes.
Change control techniques are needed. PRINCE2 uses processes that identify, record, analyse and progress change control. This is discussed under ‘techniques’ later.
The roles, responsibilities and relationships of all members of the project management team are defined. If the project size does not warrant a large team it is possible to merge some roles and responsibilities.
The planning approach is based on products rather than activities. These can be tailored to meet the needs of the project.
These facilitate the key decision making information. This will allow a proactive approach leading to an awareness of impending problems and issues with solutions being proposed in good time. In the case of Senior Managers the project is rune by ‘exception’.
This will help to reduce unnecessary meetings and allows the Project Manager a freer role to manage the project. Only significant issues will be raised that may delay the project completion or affect the quality and other deliverables of the finished product.
Projects are split into stages for easier control. At the end of each stage there will be suitable reviews of progress and the Business Case.
This will aid in decision making for the Project Board prior to starting the next stage. This approach helps the focus of the Project Manager.
Only the plans for the next stage are required in detail. This is also referred to as ‘horizon planning’ .
Change control is one of three techniques that PRINCE2 describes.
The others are:
The quality review is developed for documentation but is equally applicable for any item.