It is easy to think that only big companies or certain industries could benefit from a project management approach. Yet, the truth is that there are some powerful benefits that can be enjoyed by any type of business. Even a modestly sized firm can gain advantages from working in this way.
The following are some of the main reasons why your company should consider moving onto a project management model.
Clearly Defined Roles and Responsibilities
As part of a new project, it is essential that all of the roles and responsibilities are clearly defined. This is what allows everyone to understand where they fit into the overall piece of work.
Typically, the project will be run by a qualified, certified project manager, who reports to the stakeholders. Depending upon the size of the piece of work, they may be assisted by a large team of business analysts or by a reduced number of them.
By ensuring that all team members attend PRINCE2 courses relevant to their experience and roles, you make sure that everyone is working to the same methods. This also keeps team members happy, as they develop their skills and can also see a clear career path ahead of them.
A Standardised Approach
Following on from the previous point, it is important to mention that PRINCE2 allows for a standardised approach to be taken every single time. If everyone in the project team has been trained in the same way then you can rely on them each using the same techniques and processes.
This is especially important in a big project that runs over different teams, perhaps in a number of locations. If everyone is on the same page then there is far less chance of anything going wrong.
The communication process is also standardised, with everyone understanding how to deal with other team members. In this way, no-one is kept out of the loop or is inundated with far more information than they need.
Clear Timescales and Milestones
One of the biggest reasons why many projects fail is that the timescales are unclear. The people working on a project may all have different ideas of what needs to be done and when it needs to be done by. The implementation of changes can drag on almost indefinitely if there is no clear way ahead laid out.
On the other hand, a properly run PRINCE2 project will have a plan devised and agreed upon right at the start. This will include a series of milestones that cover the most crucial moments that need to be completed by certain dates.
This plan is then updated regularly and is available for checking purposes throughout the project. By making a watertight plan, it is also easier to keep costs under control too.
Problems Are Identified Early On
Perhaps the biggest reason for adopting a project management approach is to identify problems early on. Right at the very start, possible risks an issues are identified so that they can be tracked.
Once the project is up and running there is a need to keep a high level of control over these risks and issues. In addition, any milestones that are missed or are in danger of being missed see action being taken to bring things back under control.
If a problem does arise then there are processes in place to flag this up and then deal with it. There is no reason for someone to deal with it on their own or try to cover it up.
By working to PRINCE2 standards, it is possible to run slicker, more professional projects that deliver better value. This also helps to keep the team more highly motivated and keen to take their careers forward.