Analysis of a Project Management Methodology

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Task 1 PRINCE2 (an acronym for Projects in Controlled Environments, version 2) is a project management methodology It was developed by the UK government agency Office of Government Commerce (OGC) and is used extensively within the UK government as the de facto project management standard for its public projects. The methodology encompasses the management, control and organization of a project. PRINCE2 is also used to refer to the training and accreditation of authorized practitioners of the methodology who must undertake accredited qualifications to obtain certification. • Product based planning • Change Control Technique • Quality Review Technique (Wikipedia, 2011)Process of this methodology The seven processes are: 1. Starting Up a Project (SU) 2. Initiating a Project (IP) 3. Directing a Project (DP) 4. Controlling a Stage (CS) 5. Managing Product Delivery (MP) ( 6. Managing Stage Boundaries (SB) 7. Closing a Project (CP) (Wikipedia, 2011) Advantage of prince 2 PRINCE2 stands for ‘Projects in a Controlled Environment’. This adequately describes the most important aspect. PRINCE2 is a structured method for a standard approach of projects by which these projects are run in a controlled environment. This approach will provide the opportunity to control the different processes more and more and maybe even more important to manage all the risks. Thanks to this approach the project manager is able to control the project from start till finish through the multiple evaluation and decision moments. Numerous processes are described like how to handle deviations and the various communication channels between the project members, the project and all the stakeholders. (2, n.d.) Disadvantage of prince 2 When ... ... middle of paper ... ... [Accessed 20 october 2013]. onlineprince2, n.d. [Online] Available at: [Accessed 1 november 2013]. tutorialspoint, n.d. [Online] Available at: [Accessed 2 november 2013]. Wikipedia, 2011. [Online] (1) Available at: [Accessed 29 october 2013]. Wikipedia, 2011. [Online] (1.5) Available at: [Accessed 29 october 2013]. Wikipedia, n.d. [Online] Available at: [Accessed 1 november 2013].
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