Project Management Methodology: PRINCE2 for Education Projects

This assignment presents a project management methodology suitable for a construction company, specifically focusing on the PRINCE2 methodology. The presentation introduces an organization named "Road to Education", a non-profit entity that builds schools. It then provides a detailed explanation of why PRINCE2 is selected, highlighting its advantages over other methodologies like Agile, and emphasizing its suitability for managing projects from start to finish with defined stages, roles, and responsibilities. The presentation also outlines the various processes and knowledge areas within PRINCE2, such as project initiation, stage controlling, risk management, and the importance of a business case. The document further analyzes how PRINCE2 addresses and mitigates risks, especially given the high-risk profile of the construction company, and its impact on project success. Finally, the presentation incorporates a bibliography with relevant academic sources.

N A M E O F S T U D E N T :
N A M E O F U N I V E R S I T Y:
A U T H O R N O T E :
PRINCIPLES OF PROJECT
MANAGEMENT

Introduction of Organization
The name of the Project Company is “Road To
Education” is a non-profitable organization
that builds schools for children in various
places. The main features of the organization
include:
It has 1000 employees
Age of the organization is five years and OPA
is high
The organization belongs to level four project
management maturity
Appetite for the risk is very high
The organization has 5 locations across the

Project Management Methodology
A methodology of project management is
needed for the projects to manage the
projects properly. The methodology of project
management that is adopted for this type
of projects is PRINCE2. PRINCE2 is a very
helpful methodology for the construction
project because PRINCE2 is about best
practices those are generic and its non-
proprietary. No softwares are required to run
the projects of PRINCE2.

Why Prince2?
PRINCE2 is used instead of agile because agile is
used for software projects. PRINCE2 is adopted for
this projects due to the following reasons:
It controls the entire project from start to finish
The work of the projects are planned in stages
The responsibility and the roles are properly
defined
Optimal deployment of resources
Ongoing monitoring of the viability of project
Capability to alter an approach
Direction is clear and implementable plan of action
from start to finish.

Advantages of Prince 2
The advantages of PRINCE2 for this organization
are as follows:
It is based on products and splits the projects into
various stages thus making it easier to administer
It upgrades the communication between the
members of team and with the project stakeholders
It provides the project stakeholders a chance to say
something when the time of taking decisions come.
It offers greater control on the plan of the projects,
in this case construction projects by regular
evaluation of the progress of projects

Processes of PRINCE2
There are various types of processes of
PRINCE2. The procedures of PRINCE2 are as
follows:
Project starting
Initiation of the project
Project directing
Stage controlling
Boundary of stage is managed
Delivery of the project is managed
The project is closed

Knowledge Areas of PRINCE2
There are various types of knowledge areas r
themes in PRINCE2 methodology. The
knowledge areas are as follows:
Business case
Plans
organization
Risk
Change
Progress ‘
Quality

Risk management of PRINCE2
The Construction company has a IEF of 4 and its
risk is very high. PRINCE2 will help the Company
in following ways:
Most importantly, it will lower the risk for the
construction company
It will minimize the effect of risk on the project
Increase the probability of success
The risk will be communicated to the stakeholders
The risk theme of the methodology increase the
probability of delivering the advantages from the
project.

Bibliography
Pickett, D. (2018). Financial Waterfall Model
Development. American Bankruptcy Institute
Journal, 37(4), 46-107.
Bello, R. O., Olugbebi, M., Bello, S. I., Babatunde, A. O., &
Bello, O. B. (2018). Application of waterfall model for
secondary schools' result processing. Journal of
Computer Science and Its Application, 25(2), 90-101.
Ali, K. (2017). A Study of Software Development Life
Cycle Process Models. International Journal of Advanced
Research in Computer Science, 8(1).
Lal, M. K. (2018). Knowledge Driven Development:
Bridging Waterfall and Agile Methodologies. Cambridge
University Press.