Composition of a PRINCE2 Foundation Project


PRINCE2 Foundation Projects: Prince2 foundation project management has a process of composition, analysis or preparation, and risking & budgeting of a specific prince2 foundation project budget with a specific time frame.

Here is a very general explanation to prince2 foundation project management.

Before prince2 foundation project management

After prince2 foundation project management

Prince2 foundation projects have management

There are many types of prince2 foundation projects such as; prince2 foundation project for doing a new and different product for the company, the prince2 foundation project for serving the needs of customers, the prince2 foundation project doing new training for employees, etc.


The budgeting process is also part of the prince2 foundation project:

Prince2 foundation project budget is the sum of cost/budget of all the prince2 foundation project stages sincerely allocated to all program stages of the prince2 foundation project. Most of the organizations prepare 5 years, 10 years or 25-year budget for budgets.

Resources dedicated to prince2 foundation project

People dedicated to prince2 foundation project

Involvement of different departments in prince2 foundation project

Prince2 foundation project process is divided in 3 major process groups

[1] Initiating the prince2 foundation project

[2] Controlling

[3] Closing the prince2 foundation project

  1. Initiating a prince2 foundation project:

Prince2 foundation project initiation can take multiple forms such as; issuance of RFP or RFI to select prince2 foundation project, advertisement of prince2 foundation project to various programs, grant, etc., in companies, solicitation of bids, facility purchase or new rental lease of an asset, etc.

It can take many forms depending upon the culture of organizations, type of competitors, resource availability and ability and willingness of management to act.

  1. Controlling the prince2 foundation project

In controlling the prince2 foundation project, management plans the process of control from basic to complex. It is necessary to maintain control over; finance, schedule, quality, people and contracts

  1. Closing the prince2 foundation project:

There are 2 aspects of prince2 foundation projects ends; prince2 foundation project approval and prince2 foundation project closure. The company must have a defined process on how to close a prince2 foundation project. The thing is how can I close a prince2 foundation project if the company does not define their policies?

Prince2 foundation project management for financials

Prince2 foundation project management for expenses

Prince2 foundation project management for schedules

Prince2 foundation project management for human resource management

Prince2 foundation project management for relationships

The value of prince2 foundation project management is on many things, cost minimization (cost reduction), more productivity (time is money after all), a better relationship with customers (greater loyalty), vendor management, decreasing operational cost s, and improvement of business.

What are these 65 Enabling Factors?

  1. Various prince2 foundation projects are managed
  2. Costs of prince2 foundation projects are planned
  3. Works probability and Work Schedules are planned
  4. Tasks are correctly assumed
  5. Tasks are grouped into buckets
  6. Finishing activities are identified
  7. All prince2 foundation projects are identified price
  8. All prince2 foundation project resources are allocated
  9. All prince2 foundation project resources are optimized
  10. All resources are planned
  11. All actions are identified
  12. All resources are logged
  13. All resources are traced to some communication tool
  14. Abstract and detailed generating of value from plan
  15. Log and review all milestones/delivering of resources
  16. emy time and cost estimate for all prince2 foundation projects
  17. Resource Allocation policy & Processes
  18. Resources may be purchased, leased, or bartered
  19. Procurement policies and practices
  20. Procurement policies and Practice
  21. Ordering and purchasing policies
  22. Workflow and Visual support
  23. Requirements gathering
  24. Resources for works switching
  25. Procedure Making
  26. Vendor Selection process
  27. Delivery And Use Policy
  28. Birthday
  29. 5 yrs may use special equipment
  30. Assign the work
  31. Cost containment
  32. Productivity and Primary mover
  33. Compliance
  34. DeliverySPECIAL
  35. Labor ( thumb print only)
  36. Safety and Health issues
  37. Risk identification and mitigation
  38. Safe ate the work
  39. After adding all prince2 foundation projects
  40. Management approval (just like tasks for those who performed the works)
  41. Allotment, release, acceptance
  42. Certification, Purchasing
  43. Procurement
  44. reconciliation of all the jobs done
  45. Sequencing rules and practice
  46. Management conflict (e.g., personnel activities)
  47. Once you complete the work and finish the paperwork,

how can you reclose the work?

You should make metrics in order to emulate the production but from the other points of view. Here are some common metrics:

First, an expensive job is reclosed.

Second, you must make a cost estimate for the calculation of costs.

Third, make completion of prince2 foundation project defined as a major

agrees in communications.


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