What is Prince2 Template?
Prince2 is project management software that is also called a project in a controlled environment. Project IN a controlled environment actually means putting the project into such a manageable state that no longer stress is on the project manager.
It provides a better grip over the project by carefully breaking tasks and other essentials into smaller goals that can be achieved flexibly.
It is widely used in the UK, and now project management professionals have introduced it in private organizations to maintain the quality of work with the help of useful tools.
Prince2 Project Management Methodology
The methodology of each software has its uniqueness and specification. Some important ones of Prince2 are mentioned below;
- Always updated: Prince2 software provides help not only in the start or pre-planning phases of the project. The spreadsheets created are used and updated throughout the project.
- Well-defined roles: The team is clear about the scope of the project and their specifically defined roles s per their skills and willingness. There are different sorting groups made according to the task differentiation. So, depending on the type of task, the member falls in that list.
- Stage by stage management: The spreadsheet is constantly evolving as per the need of the project’s progress. There are few things or measures that can’t be defined before the project starts hence management of those particular tasks are done in the different stages of the project.
- Overcome the exceptions: At times the allocated budget is not good enough and extra investment is required to complete certain tasks. Prince2 helps in the organization of such situations by carefully planning the alternatives that will keep the project running smoothly.
- Tailored approach: Not all projects are taking place in the same environment. Each has its own pros and cons. Prince2 helps out to manage stage-wise progress by checking resources and the project progress.
Benefits in Project Planning of Prince2
This software has lessened the burden of the project management team marginally. The notable benefits of project planning with Prince2 are as follow;
- Time-saving- As it is updated regularly so a result it saves time and energy for the senior managers for keeping the record.
- Quite Adaptable- Project IN controlled environment explains well the adaptability of the software. It can be used easily for different projects occurring in different circumstances.
- Accountable team- As the role is defined for each team member so they become accountable for their responsibilities. This also benefits the project in a way the team is highly focused and motivated to meet the deadlines.
- Well communicated team- Communication is the key to success. Every project is a collaborative effort and well communicated team can smoothly go through the processes of the project. Progress and hurdles are discussed and way outs are decided to maintain the progress of the project.
- Improves standard- Prince2 affects the quality of work by breaking the project into stages. This continuously leads the project towards improvement.
- Consistency- With the other benefits, Prince2 also provides consistency by maintaining the resources and deadlines.
What is the Prince2 Project Initiation Document Template?
The project initiation document set the foundation of the project. The documentation starts in the pre-planning phases. It is a formal document that defines the scope of the project.
Prince2 works well for the staging and organization of tasks. The core purpose of the PID is;
- Define the direction and the purpose of the project
- Budget allocation to keep the stakeholders and investors on the same page
- Look for the possible risks and make an alternate plan of action
The contents of the project initiation document may vary with the nature and the requirement of the project.
There is no well-defined format that can be set as criteria but some common ones are;
- Project title or definition
- History of the background of the project
- Work distribution over the period
- Define roles
- Risk management
- Project summary
- Scope of the project
Categories of Prince 2 Project Initiation Document (PID) Template
A project initiation document is not only a single document; it is actually a set of different documents that are involved in the initial planning phase of the project.
And for this planning, the project managing team undergoes several small procedures that collectively result in the lengthy project initiation document. The professionally designed project initiation works in the favor of the project and keeps it running smoothly.
Prince2 Business Case Template
A business case is a part of a project initiation document and has its own importance. It is constantly updated and ensures that the project is running on the desired track.
There is no specific criterion for writing the business case but each organization has tailored it according to the requirement using the Prince2 software. The business case particularly highlights few things mentioned below;
- Why is there a need for this specific business plan?
- Define the estimated cost required to achieve the project.
- What are the potential benefits of the business idea?
- How long will it take to execute a business plan?
- What will be the expected risks or hurdles that can affect the progress of the plan?
- Possible outcomes of the project
- Check your competitors and learn from their working strategies.
Prince2 Project Brief Template
Contents of the project brief in Prince2 vary according to the need of the business plan but constant ones are;
- Project definition
- Background of the project
- Approvals of the business deals
- Road map the business case
- Product description
- Set the approach of the project
- Define roles
- Find the perfect team combination
It is basically a complete overview of the project which clearly gives information about the working capacity of the business idea. It is also a part of the project initiation document that is built keenly in the initial phase of the project.