PRINCE2 Project Management process

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Prince2 Project management is the process, practice, or procedure for planning, executing and closing a project.  Project management involves planning, organizing, directing, and controlling the resources necessary to accomplish a project’s objectives.  The organization, identification, allocation, and coordination of resources in order to plan, operate and coordinate an enterprise.  Project management is limited to those projects having an identified set of functional goals.  Determining and managing a phase in a project and the objectives of successful project completion serve to increase productivity and success. As outlined on a prince 2 Certification Belfast course.

PRINCE2 Project Management Process
PRINCE2 Project Management Process

Project Cost

Projects are expensive.  The cost of a project can exceed $100,000,000 depending on the project, government, or agency authorized to “bestow” the project upon the company, subject to regulations.  Usually, the cost borne by the general public is less than $1.  However, the cost to the private sector can be anywhere from 50% to 75%.  Project costs may be divided into four main areas; scope, schedule, quality, and cost of supplies.  Will estimate more than one hundred thousand dollars.  Generally, the cost of resources can be evaluated as follows:, relative to the projected amounts used, the estimated time to complete the project, the duration of all the steps in a project, critical or significant financial application resources, other current project experience, estimated charges for labor and material.

Critical resources can be divided into four categories; physical, financial, human & managerial and can also be named functional groups.  They are firstly those that can be physically assigned to the project, second Secondly those that can be physically distributed over the project; the third group is: those which are not needed yet should be provided at early interest and effort as they can be distributed upon completion or cost, and fourth group, the costs associated with the supply of equipment, machinery, supplies, and tools.

Project Manager

Project management also involves a project manager.  Prorastrators consist of individuals who plan, organize, operate and control. Project managers are undertaking these tasks and giving attention to all variables at the direction of the project team, usually the project, the project sponsor, or the chair of the team.  The planning, organizing, and controlling are the same for projects of varying sizes.

Project managers have personal goals and performance objectives.  They plan the schedule utilizing the project’s estimates and tend to time&00 blocks at the “top in the organization identifies the time encounter.  The designated time is followed. All productivity efforts are within budget.  Project managers attend to budgeting, in comparison to the Project Budget developed at the beginning of the project and last-minute expenses, like equipment and materials.  Project managers follow up to check on the working relationships between the team members.

Project quality is vital and important to the success of the project since this will surely affect customer satisfaction.  Quality will affect the success of the project.  It is essential to perform quality assurance techniques and procedures.  Quality monitoring is often used to check on the degree of integration of each step of the project to ensure that expectations are in accordance to multiple disciplines and cost.

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