PRINCE2™ Methodology

Originally posted on the ProjExc Project Excellence Blog on 21-Jan-08
PRINCE2™ PM METHODOLOGY
Welcome to the launch issue of the new ProjExc Newsletter. Sent out monthly, the newsletter discusses a range of Project Management related topics, and shares ProjExc related news.
This month we look at how a pragmatic approach to project management can be a real differentiator for a business, where PRINCE2™ fits into the picture and some of the new ways in which you can keep up with what ProjExc are doing, and could do for your organisation.
ProjExc are a small, highly specialised project management company. We deliver high impact results – we do not accept project failure (against the back-drop of UK project failure rates currently being around 70%!). We bring over a decade of experience in achieving excellent project management performance – experience gained from delivering results for many blue chip organisations.
Project Management – A Pragmatic Approach.  For the uninitiated, Project Management looks simple. When you scratch the surface it can suddenly become a daunting subject with a multitude of aspects. Organisations like APM, PMI, OGC tell us how to do it well. There are more software packages available than we care to imagine, all claiming to provide a cure-all (to undefined problems!). And then there is added confusion from the techniques and templates available. See PRINCE In Context below for more. Different projects (change, product development or client deployment) and different industries/organisations all have different demands and angles to consider.
Taking a pragmatic approach to selecting some solid tools and techniques, and applying them in a relevant & scalable way can add significant strengths to any organisation keen to manage project risks, protect their finances and add a competitive edge to their business.
This is the ProjExc Way. By combining a common sense, no nonsense approach, with the right people and a passion for success we create value for our clients. Just as importantly, we help them to stand out from the crowd.
PRINCE2™ In Context.  We are often challenged by new or prospective clients by statements along the lines of “I’ve spent a fortune putting my PMs through PRINCE2 training, and we’re still encountering regular project failure. Why?“. Of course there could be a number of reasons, but generally we find that it’s because there is a misunderstanding of what PRINCE2 is. In short, PRINCE2 is only part of what project management is about.
PRojects IN Controlled Environments is a project management methodology published by the OGC, a UK government agency responsible for promoting best practice in many areas of management, including Project Management.  PRINCE2 is not, and was not designed to, cover all of the detailed tools and techniques used in managing projects. It was designed to provide a consistent, well structured framework for the processes involved in managing projects, and can provide a link between business processes and project tools and techniques.  Derived from PROMPT, the 1st version of PRINCE was significantly updated in the mid 1990’s creating PRINCE2. It has 2 main elements – processes and components.