It surely is!
But of course we need reasons to believe in it, and that’s what we’re going to do. You probably know what Prince2 is all about, however it’s good to revisit before we go ahead with the benefits and future prospects that the methodology opens up for those who plan on pursuing it.
What is Prince2?
Prince2 stands for Project In Closed Environments. The 2 comes from the earlier version, PROMPT II. In 1996 the methodology was re-launched and hence the 2 (projectsmart.co.uk). The methodology came into being for practicing effective project management and has ever since been widely used by organisations worldwide.
Anyone who is involved in project management related roles know the importance of the concepts put forward in this methodology. Precisely put, below are the 7 fundamental principles of Prince2.
- Continued business justification: a project needs to be productive and the use of resources should be justified.
- Learning from experience: project managers should use their learning from previous projects.
- Defining roles and responsibilities: a project team should know exactly what their roles and responsibilities are at an individual level.
- Managing by stages: projects should be broken down into smaller stages for better manageability.
- Focusing on products: the long-term goal should be focused on the product, as it is the most essential requirement.
- Tailoring according to the environment: Not all projects are the same; Prince2 projects have the ability to be customised.
Here’s a video that will thoroughly help you understand Prince2 in 2 minutes!
Why Does It Matter?
As important as the profession of project management has become, so have all workable, lucrative project management methodologies.
- Used by well-established organisations worldwide
In 2002, when Ireland converted to Euro as its currency, the leading energy provider, Energy Supply Board (ESB) had to face various operational and structural changes that weren’t easy to undertake. It was at this time the line manager at ESB decided to implement the Prince2 methodology so that the changes are not only rightly executed but also catalysed.
Moreover, another company that witnessed breakthroughs through adoption of the Prince2 theory was Sony Ericsson. The usage of Prince2 helped the project management team at Ericsson to handle their logistics in a more productive way (source: girlsguidetopm.com).
You might be interested in knowing that the Prince2 methodology was exclusively developed in the UK, and for the first few years was only used by organisations in the United Kingdom as well. Nonetheless, with the passage of time it became a widely recognised methodology in other parts of the world. Today, it stands as a necessity for numerous project management roles.
- Proven to be successful
These days, project leaders face more challenge than they used to previously. With increasing competition, there is a demand for projects that are more productive and that too, on lesser budgets. When such constraints rise, there develops a need for project methodologies so project performance can be optimised. Prince2 is one such methodology that has considerably helped leaders to increase productivity.
The best theme put forward by Prince2 is the ability to alter and tailor the methodology according to the diverse needs of each project in numerous organisations. The Prince2 methodology is a highly structured, yet flexible and scalable language that is common to the entire team in a project, this making it a successful approach (source: The Telegraph).
Moreover, we have numbers that prove the success of a Prince2 approach. A survey of the projects by the National Health Service (NHS), UK found that only 33% projects that didn’t use Prince2 were successful, whereas 66% projects that made use of Prince2 were successful. This implies that the implementation of Prince2 doubles the success rate for a project!
- Better employment opportunities
Of course one of the most important reasons you should care is that being a certified Prince2 specialist can open up various career opportunities for you.
In a survey conducted by Axelos, the certification provider for best qualifications and practice set up by the government of the United Kingdom and Capita, it was found that 85% of Prince2 practitioners found the training helpful in their job roles on a daily basis. Moreover, 88% Prince2 certificate holders said that the qualification has helped their career in some way.
The demand for employees in project management that have knowledge of Prince is also steadily increasing. In fact, according to a statistic by itjobswatch.co.uk, it was found that the median salary percentage change year-on-year up to September 2018 was +7.84%. While the salaries of Prince2 practitioners can vary greatly according to the sector they work in, it is generally high. The annual salary of a project manager with Prince2 training is £43,000 in the UK. The hourly rate can vary between £38 and £60, depending on the sector, career level and expertise level.
- Beneficent for project managers
If you are a project manager and feel your career progression has slowed down, a Prince2 qualification can help you move ahead and progress quicker. Moreover, while a lot of project management methodologies are not universal, i.e. they may not be applicable across diverse industries Prince2 can be applied to almost any project in any industry. This means that if you are a project manager looking for a change in field, you might as well consider becoming a Prince2 certified practitioner.
Did you know that 56.6% of manufacturers use a combination of project management methodologies? (Source: liquidplanner.com)
Why not use this as an indication for adding a specialisation to your CV so there is a better chance for you to earn more?
Read here whether it is a good decision for you to take up a Prince2 certification course online and make a more informed decision.
Who Should Learn?
The best thing about getting a Prince2 online training course is that you can take it at any level; whether you are still planning to enter the professional field as a project manager or you are looking to add up to your project management skills, you can always rely on a Prince2 online course, as long as it is accredited by Axelos and is a reliable certification.
The Prince2 certification is a great fit for:
- People looking for a fresh start in project management (PM)
- People who are required to take a course by their project lead/employer
- People who are looking for a career breakthrough in project management
People who are already working in PM would know the earning potential if they add up Prince2 skills to their CVs. Below is a statistic revealing the earning potential for Prince2 practitioners as well as those who use it in combination with Agility.
Why Is Prince2 Training Online the Best Way To Learn?
Online qualifications are as good as in-class/conventionally earned qualifications, as long as they provide you with certifications that are proof that your qualification is accredited by respective institutions. For Prince2 2017 courses online, what you need to keep in mind specifically is that the certification should have the Axelos Global Best Practice affiliation.
Consequently, online learning is a great way to learn at much cheaper costs in your own time. The courses are self-paced (if you don’t opt for virtual classrooms) and give you the time and resources to learn to the best of your abilities. You can take an online course at any level of your career. If you are new to the subject, you can always take an introductory course. Here is a list that will help you choose a Prince2 2017 course online that suits you best.
PRINCE2® Software Certification Training Courses PRINCE2® 2017 Foundation Course + Official Exam PRINCE2® 2017 Practitioner Course + Official Exam PRINCE2® 2017 Complete Training & Exam Package PRINCE2® 2017 Foundation & Practitioner Course Package
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