Required PRINCE2 Artifacts

There are essential artifacts required by a typical PRINCE2 project. First, the business case artifact used by PRINCE2 is a reasoning or justification of the project. After all, as mentioned in Chapter 1, companies must focus on pursuing only those key strategic projects that produce innovative products and services. Together with this, project managers must ensure that all project risks be identified in the business case.

The business case should be routinely updated to reflect any change to the project, should new risks be identified. It is true that much time is spent on the business case, but this ensures proper planning and coordination. Therefore, the business case gives a clear picture of what is to be delivered. At the start of a project, the product specification is drawn up, which reduces the risk of delivering the wrong product. Although the PRINCE2 methodology does not directly deal with social or soft management skills, such as negotiations, presentation techniques, coaching, or leadership, it is necessary for a project manager to possess these skills to be successful.

If your company plans to implement PRINCE2, you would most likely start by training your key staff on the best practices and detail on the methodology and then provide overview training to those who would need to be aware of the methodology. Advantages and disadvantages of using PRINCE2 are discussed in the following sections.

Advantages of PRINCE2

The method is independent of the application domain such as IT software development, marketing, building and construction, and change management. Domain-specific methods such as DSDM, product development methods, or domain-specific standards can be applied in the PRINCE2 teams. This way, the method is generically applicable to any project. PRINCE2 provides a layer over the disciplines that are needed in the project because it defines a flexible project language that suits multidiscipline project teams. Therefore, the method bridges the gap between IT and business, for instance.

The method is in the public domain, and services (training, consultancy, and tools) can be obtained from several independent suppliers.

The method has active user groups in the United Kingdom and the Netherlands. The method is applicable to small and large mega-projects.

The method focuses on project results in terms of the standard time, cost, quality, and functionality parameters but also has a strong focus on business case and the benefits the project results deliver.

The method integrates change management that controls the changing environment. The method uses management by objectives and management by exception approaches.

Disadvantages of PRINCE2

It is a method and not a cure for any project. People who use PRINCE2 should continue to think.

Some people apply and interpret the methodology in a rigid way and do not tailor it to the project at hand. Huge bureaucracies might be constructed if all checklists are used in a paper format and not adapted to the project.

Human factor or soft issues are not within the scope of the methodology and are desperately needed for project success.

ЦШ Н1:1 IMJ:IMMIHIj;iW

System Development Life Cycle (SDLC) Methodology

Many projects follow the classic waterfall approach, and it is fairly straightforward to conceptualize. No rocket science is needed here. You simply have to focus on the logical progression of what needs to happen on the project. The SDLC is in essence a waterfall methodology. Successful companies such as Johnson & Johnson, Novartis, Adventis, American Express, and Nokia use and adhere to an SDLC approach. Table 3.2 describes the basic methodology phases available for a project.

Table 3.2: Simple approach