WHAT IS PRINCE 2?

What is Prince2?It is crucial to acquire the appropriate credentials and certification if you operate in a project management methodology sector. PRINCE2® is one of just a few core certifications available. The following will help you understand why PRINCE2® is such a popular and widely used project management technique.

What Exactly Is PRINCE2®?

PRINCE2® (Projects IN Controlled Environments) is one of today’s most extensively used project management methodologies. The entire work process is easy to control with this well-structured methodology. The UK government first developed it for its information technology projects in 1989 and then released it in 1996 as a methodology for non-governmental organisations. AXELOS Ltd. PRINCE2 presently owns PRINCE2® or Projects In Controlled Environments, a project management methodology implemented in over 150 countries. It is a methodical technique that emphasises structure and control throughout the project. Every project starts with a clear Project plan, organises each stage, and ties up any loose ends at the conclusion.

Regardless of the kind or scope of the project, PRINCE2® assists project managers in dividing tasks so that each step is more manageable and controllable. It’s pretty adaptable and may be customised to meet your individual needs. You can thoroughly plan your project using PRINCE2® before you start working on it. From beginning to end, the procedure is well-structured. It also helps you tie up any loose ends once completing the project.

WHAT IS PRINCE 2?-The seven principles of PRINCE2.

Seven important ideas underpin the PRINCE2 methodology:

1. Business justification is required for projects, including a clear need, a specified customer, actual benefits, and a complete cost analysis.

2. It is essential to keep learning. Lessons are sought and recorded at each level of the process, and they are used to improve future work.

3. Everyone knows who is responsible for what, and roles and responsibilities are clearly defined.

4. Divide the work into stages. Break down large projects into phases, with time in between to reflect on lessons gained and ensure the project is on track to accomplish its goals.

5. Project boards establish baseline standards for requirements such as dates, cost, risk, and scope and choose a project manager to oversee day-to-day operations.

6. Teams check deliveries against specifications using a quality register.

7. It should tailor the PRINCE2 technique to each project’s unique requirements. It can alter the degree of control and planning according to the project’s complexity, the number of people involved, and other considerations.

What is PRINCE2: Six Aspects

According to the PRINCE2 approach, every project must cover six factors or areas. Project managers utilise KPIs to track performance goals and project tolerances.

Scope.

What effort is required to finish the project? The project plan should clearly outline the project scope.

Costs.

What is the cost of your project? The project plan also details the expenditures.

Timescales.

How long will your project take to complete? The project plan details each project phase and the project’s duration.

Risk.

What are the threats to your project? To decide the mitigation techniques to be applied, you’ll need to use a risk management approach.

Quality.

What are your clients’ or stakeholders’ quality expectations? To meet quality criteria, you must implement quality control and assurance systems.

Benefits.

What are your project’s expected outcomes? Every project must have a business case and a cost-benefit analysis to justify its goal and financial or strategic benefits.

HOW MUCH TIME DO YOU NEED TO PREPARE FOR PRINCE 2?

It is very dependent on your experience and knowledge. There is no definitive answer to this issue because everyone is different. It all depends on their study method, preparation materials, commitment, concentration, and various other things. However, we will attempt to generalise it so that potential candidates can estimate how much time they need for preparation on average. A PRINCE 2 practitioner course usually lasts five days. The first three days of the course are when you learn something. Working late on it is worthwhile to ensure that you retain your learning. It may be simpler to know if you can collaborate with one of the other applicants in attendance. The Practitioner exam prep and the exam have occurred over the last two days. Again, set aside some time for learning to be embedded. Your learning methods, reading speed, and understanding speed will all influence this. It takes understudies anywhere from three days to 90 days to complete a PRINCE2 project to the executives’ ability.

Concentrating on the PRINCE2 linked course takes most students anywhere from five days to a half year to finish their capabilities; nevertheless, it depends on the review design you choose.

So, if you’re going to a course, you’ll probably need about 5-10 hours of extra learning time before you start (spread out over several weeks).

When studying full-time in a classroom, most students will finish the PRINCE2 Foundation course between two and three days (or 30 to 50 learning hours). While working full-time, you might spend a PRINCE2 Foundation qualification one to three months if you study part-time online. If you can find some time to review, you can complete PRINCE2 online just as rapidly as possible in a classroom.

What is Prince2?-There are three levels of PRINCE 2 certification.

Foundation for PRINCE 2.

Practitioner of PRINCE 2.

Professional PRINCE 2.

PRINCE 2 Professional is a challenging certification that only a few people pursue. As a result, we will address the first two levels here.

Exam for PRINCE 2 Foundation Certification

The foundation level ensures that you have adequate knowledge and understanding of the PRINCE2 technique to work effectively with or as a project management team member in an environment that supports PRINCE2. The practitioner certification requires completion of the foundation level.

The test assesses your ability to contribute as an informed project management team member using PRINCE2 in a supportive setting. You must demonstrate that you comprehend the method’s ideas and terminology to pass. As a result, you must show that you understand the role’s goal and key content and the eight components, eight processes and sub-processes, and approaches.

As a result, PRINCE 2 Foundation is not a complicated exam.

After studying for 3-4 hours every day and 10-12 days, you should be able to pass it. However, learning should be concentrated, committed, and consistent.

You can pass it in about three weeks if you study for 1-2 hours per day.

Exam for PRINCE 2 Practitioner Certification

The PRINCE 2 Practitioner Exam verifies that you understand and can comment on the process, theme, and technique descriptions and examples of PRINCE2 management products in the context of a given situation. You must demonstrate that you understand and can implement how processes, themes, techniques, and PRINCE2 management tools interact. They want proof that you know why the strategies, articles, and approaches exist and that you can adapt PRINCE2 to varied project situations.

Because the PRINCE 2 Practitioner test is somewhat challenging, you will need to devote some time to preparing. Time is crucial, but so are devotion, commitment, and focus. Therefore, you must prepare without taking any long breaks, preferably regularly. Although it varies, the following is a rough estimate of the amount of time required for preparation:

After studying for 2-3 months and studying for 3-4 hours every day, you should be able to pass the exam. However, this is contingent on how well you comprehended the information and concepts.

WHAT IS PRINCE 2-Conclusion.

PRINCE 2 Foundation is a simple exam that takes about 2-3 weeks. However, PRINCE 2 Practitioner is more demanding, and preparation takes an average of three months.Prince2 Certification Cost in Nigeria as at 2022.