The paper “ Comparison of Project Management Methodologies, Project Management Success Factors and Failures” is an outstanding example of the case study on management. PRINCE2 is a project management methodology that is more focused on the business case or the rationale and justification for the project derived from the different aspects of the business itself. This project management methodology also provides not only flexibility in managing different types of projects but an effective mechanism to enhance the use of resources, application of skills, and delivery of services. These include product-based planning (product description, structure, and flow), change control (changes to deliverables, improvement of products, revision to meet requirements), and quality review (assessment and approval of product quality) techniques (PRINCE2, 2002: Foreword; 277). PRINCE stands for Projects In Controlled Environments that is basically a structured approach to project management which was developed in 1989 by CCTA and somewhat an enhanced version of Simpact Systems’ PROMPTIL, a standard project method being used by UK government for their IT projects from 1979 to 1989 (PRINCE2, 2002:1). Similar to other project management approaches, PRINCE2 is also designed to reduce project failures caused by different factors such as the inability to determine a workable business case, lack of attention to quality, inadequate stakeholders’ participation, insufficient planning and lack of control over the project’ s stages, and others.
Aware of good and tested project management practices, PRINCE2 incorporated several advantageous principles that include recognition of a project as a finite process with start and end, effective management as key to success, and the impact of stakeholders’ commitment to the success of the project (PRINCE2, 2002:1-2). However, although project management approaches agree on several objectives and principles, PRINCE2 has a number of benefits that a single structured method can bring.
For instance, PRINCE2 is a project management that can be learned and repeated over and over again, a method that can be enhanced through experience, stakeholder participation is guaranteed, aware and react to problems in a timely manner, proactive and flexible enough to accommodate unexpected changes or turn of events (PRINCE2, 2002:2).
Armstrong W. & Wallace R, (2001), A Case Study of Construction Management on the Boston Harbour Project: Reflections at Project Completion, CMe Journal, pp. 1-22
PMBOK,(2000), A Guide to the Project Management Body of Knowledge, US: Project Management Institute, pp. 1-211
PRINCE2, (2002), Projects In Controlled Environments, UK: Stationery Office, pp. 1-412