Risk can either be an opportunity or a stumbling block; nothing is guaranteed but either way it is going to have an effect on your project’s goals and is an essential part of business. Without risks businesses wouldn’t grow or venture into new markets, which in an ever-changing environment could wind up costing them the business itself.
Taking risks is scary, but when guided by a professional who has undergone PRINCE2 Training and knows how to use risk management techniques, looking for potential benefits at every possible opportunity. To be able to do this an individual must be able to use a set of processes and principles to be able to identify, record, analyse and control risks, knowing what best courses of action to take in different situations.
There are a number of things to take into account when coming up with a risk assessment strategy to ensure that your business’s future isn’t completely left to chance, but an extremely calculated risk. Or as calculated as it can be. This is why we are going to look at some of these principles to help you manage risk and help you make your own risk management strategy:
Learn more about PRINCE2 with our previous post on the Seven PRINCE2 Principles. Read the rest of “Managing Risk”
Having a well defined and up to date business can be the key to the success of any PRINCE2 project – and yet it is often overlooked, or not used correctly (in these cases, projects tend to deliver poor results!)
It’s not difficult for some project managers to get bogged down in the detail of their PRINCE2 projects, and to lose sight of the overall business objectives.
Some project managers are also unsure about the information they are basing their Business Case on, and where to find it.
However – all PMs should remember that without an agreed Business Case, their project would not exist in the fist place, so making sure that it is accurate, up to date and referred to for the duration of the project is paramount.
In this post we explore some of the purposes of the PRINCE2 Business case, and consider how to use it effectively.
Want more tips?: Read about setting SMART Goals for your PRINCE2 projects here.
Managing a PRINCE2 Project requires PRINCE2 Practitioner Training, and PRINCE2 Foundation Training is necessary for being part of the project team. We offer both courses in our Brighton training centre, and can also provide training at your place of work.
What is the PRINCE2 Business Case For?
The PRINCE2 business case is a document which aligns your project to the overall strategy of your business or organisation. It explains why we are developing the products or focusing on the outcomes that your project is delivering. It describes the positive impact your project will have on the business, and how it contributes to organisational strategy.
Read the rest of “DON’T FORGET your PRINCE2 Business Case!”