Prince2 - Revision history

Ole: /* Abstract */

2019-03-04T22:32:49Z

Abstract

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	== Abstract ==		== Abstract ==

	Many major projects fail due to complexity and poor management. The use of a standardized project management methodology is in many cases a necessity in order to achieve desired progress and ~~results~~. PRINCE2 (PRojects IN Controlled Environments) is a widely used project management methodology and highly useable for managing advanced projects. It is designed to drive projects with focus on benefits in each stage of the project. The essence of PRINCE2 is to break the project down into smaller stages which simplifies the project's process. Many different international standards exist, where most project management standards are process oriented. The two dominant process-oriented certification bodies internationally are AXELOS Ltd’s PRINCE2 and The Project Management Institute (PMI) with Project Management Professional (PMP) based on the Project Management Body of Knowledge (PMBOK Guide).<ref name=''Projectmanagement''>Paul D. Gardiner. 2005. Project management - a strategic approach. New York: Palgrave Macmillan</ref>		Many major projects fail due to complexity and poor management. The use of a standardized project management methodology is in many cases a necessity in order to achieve desired progress and meet project objectives. PRINCE2 (PRojects IN Controlled Environments) is a widely used project management methodology and highly useable for managing advanced projects. It is designed to drive projects with focus on benefits in each stage of the project. The essence of PRINCE2 is to break the project down into smaller stages which simplifies the project's process. Many different international standards exist, where most project management standards are process oriented. The two dominant process-oriented certification bodies internationally are AXELOS Ltd’s PRINCE2 and The Project Management Institute (PMI) with Project Management Professional (PMP) based on the Project Management Body of Knowledge (PMBOK Guide).<ref name=''Projectmanagement''>Paul D. Gardiner. 2005. Project management - a strategic approach. New York: Palgrave Macmillan</ref>

	The following article will describe what role PRINCE2 plays in project management. Moreover, the PRINCE2 methodology is described with respect to its principles, themes and processes. Similarities and differences between PRINCE2 and the PMBOK Guide are outlined to enlighten common misconceptions that are important to address as they are among the most used standards in state-of-the-art project management. While PRINCE2 describes in detail how to manage a project as a whole, the PMBOK Guide focus on project management knowledge. A critical evaluation of PRINCE2 it undertaken, to demonstrate the limitations it has. The article will describe how the PMBOK Guide can cover PRINCE2 limitations.<ref name="Managing Successful Projects" /><ref name=pmi />		The following article will describe what role PRINCE2 plays in project management. Moreover, the PRINCE2 methodology is described with respect to its principles, themes and processes. Similarities and differences between PRINCE2 and the PMBOK Guide are outlined to enlighten common misconceptions that are important to address as they are among the most used standards in state-of-the-art project management. While PRINCE2 describes in detail how to manage a project as a whole, the PMBOK Guide focus on project management knowledge. A critical evaluation of PRINCE2 it undertaken, to demonstrate the limitations it has. The article will describe how the PMBOK Guide can cover PRINCE2 limitations.<ref name="Managing Successful Projects" /><ref name=pmi />

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Annotated Bibliography

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	'''Nigel Bennett, Robert Buttrick, Phil Stanton. 2017. Managing Successful Projects with PRINCE2, 6th ed. Norwich: AXELOS Limited''' The Managing Successful Projects with PRINCE2 is the most used reference in the article. It is used as literature for explaining the key aspects of PRINCE2 in the article. The book is also the used literature for PRINCE2 Foundation and PRINCE2 Practitioner candidates.		'''Nigel Bennett, Robert Buttrick, Phil Stanton. 2017. Managing Successful Projects with PRINCE2, 6th ed. Norwich: AXELOS Limited''' The Managing Successful Projects with PRINCE2 is the most used reference in the article. It is used as literature for explaining the key aspects of PRINCE2 in the article. The book is also the used literature for PRINCE2 Foundation and PRINCE2 Practitioner candidates.

	'''Project Management Institute. 2017. ''Project Management: A guide to the Project Management Body of Knowledge (PMBOK guide) 6th Edition''. Pennsylvania, USA: Project Management Institute, Inc.''' The PMBOK Guide is used as a reference throughout the article, especially for comparing the two state-of-the-art management certifications PMP and PRINCE2.		'''Project Management Institute. 2017. ''Project Management: A guide to the Project Management Body of Knowledge (PMBOK guide) 6th Edition''. Pennsylvania, USA: Project Management Institute, Inc.''' The PMBOK Guide is used as a reference throughout the article, especially for comparing the two state-of-the-art management certifications PMP and PRINCE2. The PMBOK Guide is published by the PMI organization and a recognized standard in state-of-the-art project management.

	'''Klas Skogmar. 2015. PRINCE2®, the PMBOK® Guide and ISO 21500:2012. Norwich: AXELOS Limited''' The article describes the relationship between PRINCE2 and the PMBOK Guide. It also includes the ISO 21500 standard. The article is written by Klas Skogmar, consultant in Arkatay Consulting AB.		'''Klas Skogmar. 2015. PRINCE2®, the PMBOK® Guide and ISO 21500:2012. Norwich: AXELOS Limited''' The article describes the relationship between PRINCE2 and the PMBOK Guide. It also includes the ISO 21500 standard. The article is written by Klas Skogmar, consultant in Arkatay Consulting AB.

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Annotated Bibliography

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	'''Project Management Institute. 2017. ''Project Management: A guide to the Project Management Body of Knowledge (PMBOK guide) 6th Edition''. Pennsylvania, USA: Project Management Institute, Inc.''' The PMBOK Guide is used as a reference throughout the article, especially for comparing the two state-of-the-art management certifications PMP and PRINCE2.		'''Project Management Institute. 2017. ''Project Management: A guide to the Project Management Body of Knowledge (PMBOK guide) 6th Edition''. Pennsylvania, USA: Project Management Institute, Inc.''' The PMBOK Guide is used as a reference throughout the article, especially for comparing the two state-of-the-art management certifications PMP and PRINCE2.

	'''Klas Skogmar. 2015. PRINCE2®, the PMBOK® Guide and ISO 21500:2012. Norwich: AXELOS Limited''' The article describes the relationship between PRINCE2 and the PMBOK Guide. It also includes the ISO 21500 standard.		'''Klas Skogmar. 2015. PRINCE2®, the PMBOK® Guide and ISO 21500:2012. Norwich: AXELOS Limited''' The article describes the relationship between PRINCE2 and the PMBOK Guide. It also includes the ISO 21500 standard. The article is written by Klas Skogmar, consultant in Arkatay Consulting AB.

	== References ==		== References ==

	<references />		<references />

Ole: /* PRINCE2 and the PMBOK Guide - summarized */

2019-03-04T22:08:16Z

PRINCE2 and the PMBOK Guide - summarized

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	===PRINCE2 and the PMBOK Guide - summarized===		===PRINCE2 and the PMBOK Guide - summarized===

	Using PRINCE2 and the PMBOK Guide together contributes to method and knowledge respectively. The PMBOK Guide provides a body of knowledge which is highly necessary for project managers so that they can be confident in their management role. With PRINCE2 project managers have a process-based method to work with, securing a satisfying progression ~~in relation to deadlines etc~~. The complementary aspect is a key reason for why PRINCE2 and the PMBOK Guide should live alongside with each other. Even though certification in both will be of great cost, the consequences of poor project management skills will be many, and likely surpass certification costs.<ref name="Managing Successful Projects" /><ref name=pmi /><ref name="Klas Skogmar" />		Using PRINCE2 and the PMBOK Guide together contributes to method and knowledge respectively. The PMBOK Guide provides a body of knowledge which is highly necessary for project managers so that they can be confident in their management role. With PRINCE2 project managers have a process-based method to work with, securing a satisfying progression. The complementary aspect is a key reason for why PRINCE2 and the PMBOK Guide should live alongside with each other. Even though certification in both will be of great cost, the consequences of poor project management skills will be many, and likely surpass certification costs.<ref name="Managing Successful Projects" /><ref name=pmi /><ref name="Klas Skogmar" />

	== Critical Evaluation ==		== Critical Evaluation ==

Ole: /* Certification */

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Certification

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	\|}		\|}

	The examination cost for PRINCE2 is not fixed as AXELOS does not provide examination themselves but in partnership with others. Getting a PRINCE2 certification will therefore vary from country to country and also with examiner of choice. Moreover, it will depend on whether the candidate gain the needed knowledge by self-studies, from a course online or through an AXELOS partner providing a seminar or similar. Poor project management may result in severe consequences like missed deadlines and cost overruns. Improving team members project management skills by taking the financial cost of acquiring both a PRINCE2 and PMP certification can be argued for.<ref name=PMPcertification /><ref name="Managing Successful Projects" />		The examination cost for PRINCE2 is not fixed as AXELOS does not provide examination themselves but in partnership with others. Getting a PRINCE2 certification will therefore vary from country to country and also with examiner of choice. Moreover, it will depend on whether the candidate gain the needed knowledge by self-studies, from a course online or through an AXELOS partner providing a seminar or similar. Poor project management may result in severe consequences like missed deadlines and cost overruns. Improving team members project management skills by taking the financial cost of acquiring both a PRINCE2 and PMP certification can therefore be argued for.<ref name=PMPcertification /><ref name="Managing Successful Projects" />

	===PRINCE2 and the PMBOK Guide - summarized===		===PRINCE2 and the PMBOK Guide - summarized===

Ole: /* Certification */

2019-03-04T22:06:13Z

Certification

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	\|}		\|}

	The examination cost for PRINCE2 is not fixed as AXELOS does not provide examination themselves but in partnership with others. Getting a PRINCE2 certification will therefore vary from country to country and also with examiner of choice. Moreover, it will depend on whether the candidate gain the needed knowledge by self-studies, from a course online or through a AXELOS partner providing a seminar or similar. Poor project management may result in severe consequences like missed deadlines and cost overruns. Improving team members project management skills by taking the financial cost of acquiring both a PRINCE2 and PMP certification can be argued for.<ref name=PMPcertification /><ref name="Managing Successful Projects" />		The examination cost for PRINCE2 is not fixed as AXELOS does not provide examination themselves but in partnership with others. Getting a PRINCE2 certification will therefore vary from country to country and also with examiner of choice. Moreover, it will depend on whether the candidate gain the needed knowledge by self-studies, from a course online or through an AXELOS partner providing a seminar or similar. Poor project management may result in severe consequences like missed deadlines and cost overruns. Improving team members project management skills by taking the financial cost of acquiring both a PRINCE2 and PMP certification can be argued for.<ref name=PMPcertification /><ref name="Managing Successful Projects" />

	===PRINCE2 and the PMBOK Guide - summarized===		===PRINCE2 and the PMBOK Guide - summarized===

Ole: /* Certification */

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Certification

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	'''Prerequisites'''		'''Prerequisites'''

	There are no formal prerequisites for taking the PRINCE2 Foundation exam. For PRINCE2 Practitioner candidates must provide proof of having passed PRINCE2 Foundation or PMP. In order to take a PMP certification candidates must have project management experience. The amount of hours experience needed varies with educational background, split into second degree and four-year degree. ~~Candidates~~ need at least 3 years of project management experience (5 years for professionals with a second degree). 4500 hours of leading experience in directing project must also be obtained (7500 hours for professionals with a second degree). 35 hours of formal project management experience is also required for both four-year and second degree holders.<ref name=PMPcertification>PMI. 2019. "Project Management Professional (PMP)®". Accessed February 20, 2019. https://www.pmi.org/certifications/types/project-management-pmp</ref>		There are no formal prerequisites for taking the PRINCE2 Foundation exam. For PRINCE2 Practitioner candidates must provide proof of having passed PRINCE2 Foundation or PMP (there are also other exceptions). In order to take a PMP certification candidates must have project management experience. The amount of hours experience needed varies with educational background, split into second degree and four-year degree. Four-year degree candidates need at least 3 years of project management experience (5 years for professionals with a second degree only). 4500 hours of leading experience in directing project must also be obtained (7500 hours for professionals with a second degree). 35 hours of formal project management experience is also required for both four-year and second degree holders.<ref name=PMPcertification>PMI. 2019. "Project Management Professional (PMP)®". Accessed February 20, 2019. https://www.pmi.org/certifications/types/project-management-pmp</ref>

	'''Practical Costs'''		'''Practical Costs'''

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Certification

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	\| '''Questions''' \|\| 200 \|\| 50 (28 marks or above to pass) \|\| 68 (38 marks or more required to pass)		\| '''Questions''' \|\| 200 \|\| 50 (28 marks or above to pass) \|\| 68 (38 marks or more required to pass)
	\|-		\|-
	\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| ~~Objective testing~~		\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| Multiple choice
	\|-		\|-
	\| '''Question style''' \|\| Abstract \|\| Objective testing \|\| ~~Objective testing~~		\| '''Question style''' \|\| Abstract \|\| Objective testing \|\| Scenario, additional information and questions
	\|-		\|-
	\| '''Time''' \|\| 240 min \|\| 60 min \|\| 150 min		\| '''Time''' \|\| 240 min \|\| 60 min \|\| 150 min

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Certification

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	\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| Objective testing		\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| Objective testing
	\|-		\|-
	\| '''Question style''' \|\| Abstract \|\| ~~Abstract~~ \|\| Objective testing		\| '''Question style''' \|\| Abstract \|\| Objective testing \|\| Objective testing
	\|-		\|-
	\| '''Time''' \|\| 240 min \|\| 60 min \|\| 150 min		\| '''Time''' \|\| 240 min \|\| 60 min \|\| 150 min

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Certification

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	\| '''Exam literature''' \|\| PMBOK Guide \|\| The official manual, Managing Successful Projects with PRINCE2 \|\| The official manual, Managing Successful Projects with PRINCE2		\| '''Exam literature''' \|\| PMBOK Guide \|\| The official manual, Managing Successful Projects with PRINCE2 \|\| The official manual, Managing Successful Projects with PRINCE2
	\|-		\|-
	\| '''Questions''' \|\| 200 \|\| 75 \|\| 68 (38 marks or more required to pass)		\| '''Questions''' \|\| 200 \|\| 50 (28 marks or above to pass) \|\| 68 (38 marks or more required to pass)
	\|-		\|-
	\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| Objective testing		\| '''Format''' \|\| Multiple choice \|\| Multiple choice \|\| Objective testing