The cost of living is out of control for your customers and service users in the high-inflation environment of today.

The same price increases that affect your clients will also affect your business, from greater utility costs to higher pricing for raw goods. To maintain profit margins, there is pressure to increase rates, which puts further pressure on your customers.

Is there anything you could do in its place, though? In my experience working with thousands of companies, Usually see investments in initiatives and programs being wasted because the advantages are not completely realized.

To ensure that outcomes are met, benefits are realized, and what has to be monitored, when, and how, both PRINCE2 and Managing Successful Programmes (MSP) recommend creating a benefits management approach that includes actions and evaluations.

From developing skills to introducing new methods of operation

Make sure a project or program produces the correct outputs to get the most out of your investment in change. When these outputs are combined, they produce the capabilities that will be put to use in operations.

However, this is usually where businesses go astray. Benefits, or measurable increases in business performance, won’t be attained unless operational staff uses these capabilities as planned and in an efficient manner. To achieve a smooth transfer of what the business wants, when the business wants it, to operations, the project or program manager must collaborate closely with the business representatives (senior user or business change manager).

The company must have had enough time to get ready in terms of communication, training, handling resistance from affected employees, changing terms and conditions, and winning over customers. The new capabilities will be adopted and become results if the firm is well-prepared. This is the point at which the operational methods of operation have been changed to meet the new standards.

But does it all measure up?

However, the project or program’s work is not yet finished. Before the capabilities go live, an accurate baseline or measure of company performance is required for measuring the benefit and demonstrating the difference you have achieved. To ensure that the baseline is correct and not merely a “blip,” it might be necessary to measure current performance over a long time (either higher or lower than the average).

The improvement must also be measured once the goal has been reached. If the benefit is achieved during a program, when staff from the program is available to carry out this activity, it is quite easy. Benefits, however, usually don’t appear in full until the project or program is over.

A benefit profile that outlines each benefit, what needs to be measured, how, when, and who is in charge of achieving the benefit is required by MSP. Early in the lifecycle of the project or program, these documents should be generated and updated continuously. This ensures that these records can be given to the portfolio office if one exists, or to the finance/performance management departments for follow-up when the project is completed.

It is best practice to form a small team with members from operations, finance, and project/program management to measure the benefits after initiative closure. To choose what to measure, how to measure it, and who to include, this team will use the benefits management approach and benefit profiles.

This effort should be overseen by the senior user/business change manager to ensure that benefits are appropriately recorded to demonstrate whether expenses have decreased or sales have increased. To continue making a profit and learn from their mistakes, your company can do this. This will help them be even more successful at turning change projects into actual business value.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

In Canada, the private and governmental sectors can obtain engineering, project management, and organizational improvement services from Midgard Consulting, whose principal is Kursten Faller. Here he describes the strategy for turning an ambitious joint-use facility for the City of Weyburn into a reality supported by PRINCE2.

There are some projects in life that it is a privilege to work on. This was the case with the highly ambitious $50 million plan to build a facility that would serve both the South-East Cornerstone School Division and the City of Weyburn.

A community center featuring a half-size soccer field, a 200-meter running track, an art gallery, pottery studios, an indoor playground, a multipurpose gym, and simulation rooms was the goal. The Weyburn Comprehensive School, an elementary school with 650 pupils enrolled, would stand to gain the most from this.

It posed a high risk as a project. Numerous public money was at stake, not to mention significant public scrutiny. Our first objective was to deliver on time and under budget for the Ministry of Education, which had high expectations for the project’s management and the people’s return on investment.

To demonstrate that you can deliver a transformational program, we used a clear scope, transparent decision-making, and a highly structured form of project methodologies.

PRINCE2 is the underpinning for collaboration

Our team has extensive training and expertise using PRINCE2, which offers the sturdy framework required for building projects of this scale. For these reasons, PRINCE2 was our selected project management methodology. Additionally, there is a cultural match; the local economy is aware of its advantages, making managing supplier relationships more straightforward.

Even though the Ministry of Education, the City of Weyburn, and the internal project management team weren’t PRINCE2 practitioners and, in some cases, had little project management experience, we combined our project management and PRINCE2 expertise with their familiarity with the educational system and the city’s demographics. This resulted in a working strategy that achieved everyone’s goals.

Their team has extensive training and expertise using PRINCE2, which offers the strong framework that building projects of this scale require. For these reasons, PRINCE2 was our selected project management methodology. Additionally, there is a cultural match; the local economy is aware of its advantages, making managing supplier relationships more straightforward.

Even though the Ministry of Education, the City of Weyburn, and the internal project management team weren’t PRINCE2 practitioners and, in some cases, had little project management experience, we combined our project management and PRINCE2 expertise with their awareness of the educational system and the city’s demographics. This resulted in a working strategy that achieved everyone’s goals.

Multi-owner projects need PRINCE2

When managing a project with many “owners”—in this case, the Southeast School Division, the City of Weyburn, and the Ministry of Education as the source of funding are essential. It’s impossible to build relationships and have everyone cooperating effectively without a framework. Additionally, having a framework ensures that everyone is aware of exactly what is happening when, their role in the decision-making process, what must be outsourced, how much the various delivery stages will cost, and the overall effects of a delivery delay.

Instead of waiting for a “lessons learned” wash-up at the end, you can make smarter decisions and improve project performance as you go. Because there is constant alignment to the overarching goals and a business case, using PRINCE2 to manage a project in stages aids in delivering this iterative approach. Information is continuously updated, which helps in modifying the following stages as needed.

PRINCE2 builds in resilience

Despite your best efforts, not all initiatives will turn out as you had hoped. It’s just how construction works. With this plan, occasionally things did go wrong; we had no control over them. However, employing PRINCE2 helped reduce bureaucracy and created resilience in terms of how employees responded to unforeseen challenges.

They were able to establish extremely clear expectations using PRINCE2 at every stage of the project, ensuring that everyone was informed and could make timely, high-quality decisions regarding contingency plans. Additionally, it offered a way to include tolerance in a large-scale construction project.

The school was opened on schedule, within budget, and at a very high-quality finish thanks to the customized approach we took to the project and our efforts to ensure that all stakeholders were informed and committed.

Without a question, the public received a real return on their investment. It is a thriving community hub and a great place to study and play because of its dedication, passion, and organized project management.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

While PRINCE2 Foundation teaches the methodology, the Practitioner level is all about application—right up to the exam, which requires you to use what you’ve learned to solve a case study. This entails adapting the theory to a project’s “environment” and applying the method’s guiding principles appropriately.

Project managers need to have a new perspective and concentration while planning out a project’s lifetime, and to do that, you should be Practitioner-certified.

The PRINCE2 Practitioner difference

Before enrolling in the PRINCE2 Practitioner program, we had been working in project management for a considerable amount of time.

It helped me by keeping all the ideas in mind and, in particular, by customizing the approach to ensure that it was effective for the given assignment.

Being an “all-rounder” as a project manager means adhering to the PRINCE2 principles and not skipping or forgetting to complete tasks that are important to any project. Again, for this reason, we keep the book close by to test me and make sure that I am truly managing a PRINCE2 project rather than one that is “PRINCE2 in name only.”

Governance for good project “health”

The goal of applying PRINCE2 governance is to make a project successful.

A project environment that is safe and secure is produced through effective governance. For instance, it is crucial to guarantee that a senior user from the company is represented on the project board. This ensures that the appropriate expertise is available to offer advice before initiating a change process and that management is actively participating throughout the initiatives, rather than just passively through the use of dry, written reports.

Project outcomes are sometimes not “black and white,” but rather “grey,” and this degree of uncertainty usually places the project manager in a challenging position when determining the project’s course. Therefore, knowing a PRINCE2 Practitioner enables you to make decisions based on the information at hand and assures you that you do so while using organized thinking and keeping the project’s overall success in mind.

Observations from the PMO

Whether or not they are project managers, everyone completes the PRINCE2 Foundation certification. Since many of our projects are PRINCE2-based, they must comprehend the tenets, procedures, and lingo we use.

Our full-time project managers, however, are all PRINCE2 Practitioner certified. As a result, we’ve seen how they develop a greater sense of awareness of their role as project managers: they are more meticulous, communicate more effectively, and truly follow the proper procedures when beginning a new project.

Our project managers can make projects more visible and facilitate better talks with the project board about any challenges that have arisen thanks to their increased expertise and qualification.

In the end, the flexibility to involve the project board ensures that the project manager has the support, guidance, and extra resources they require at the appropriate time.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

AXELOS, the organization that certifies PRINCE2, recently released an updated version of the PRINCE2 project management approach that reflects changes in the field of project management education. This marks PRINCE2’s first significant change since 2009. We are giving an overview of the changes to the methodology and course as one of the first Accredited Training Organizations to offer the revised PRINCE2 courseware. This manual provides a summary of pertinent information for readers who require PRINCE2 certification.
Although PRINCE2 has always been adaptable and flexible enough to accommodate the complexity and demands of different projects, it later developed a reputation for being rigid and procedure-heavy. Following AXELOS’ consideration of this feedback, the update takes the following issues into account:

• increased focus on flexibility and scalability;
• more explanation of the relationships between the themes and ideals;
• more emphasis on PRINCE2’s key values;
• further suggestions, advice, and illustrations of how to use the new guidelines;
• improved readability and more assistance in customizing the software;
• Configuration management is eliminated.

Differences: Principles

The basic PRINCE2 principles haven’t changed all that much. However, they have added a key message for each principle, which should allow individuals to help understand the principles and assist those taking the Foundation exam. With the new edition, there is a larger emphasis on these principles.

Differences: Tailoring

The new PRINCE2 manual’s tailoring text is located closer to the front than it was in the PRINCE2 2009 version, making it easier for users to reach. There is detailed advice on implementing Agile, and integrating PRINCE2 alongside Agile is usually mentioned. The update also contains detailed advice on how to recognize the minimum standards for a PRINCE2 project and how to utilize the methodology wisely and selectively according to the size of the project at hand.
The primary emphasis is on how to use PRINCE2 within an organization, covering pertinent subjects like:

• Embedding PRINCE2 into an organization;
• Tailoring it to fit the organization.

Other tailoring-related subjects include:

• Tailoring the terminology
• Tailoring the principles
• Tailoring the roles
• Tailoring the themes
• Tailoring the management products
• Tailoring the methodology

Differences: Themes

The seven themes from the previous iteration of PRINCE2 are still present in PRINCE2: Plans, Risk, Progress, Change, Quality, Organization, and Business Case. However, there is now more evidence to support each of the themes. The additional material serves as implementation instructions and the requirements for each theme.

The PRINCE2 Exams

In PRINCE2, the curriculum and tests have been streamlined. In the tests, applying PRINCE2 is given much more importance.

Foundation Exam

Instead of 75 questions, there are now 60. The foundation exam now requires a score of 33 to pass. Additionally, fewer negative and list questions are asked.

Practioner Exam

Because candidates are tested on every element of the methodology, every element of the methodology is important to the exam.
Fewer inquiries are asked regarding management products, and more are asked about their use and operation in actual projects. Additionally, less additional material is used.

Instead of 80 questions, there are now 68, and all of the answer, assertion, and reasoning-related questions have been eliminated. The current pass mark is 38.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com