Initiating a project: The project board chooses a project manager to lead and create an even more detailed project plan. This includes the baselines for time, cost, quality, scope, risk, and benefits. The project can officially begin once the project board fully approves the project plan the manager creates. Chapter 5 sets the project in the organizational environment, with advice on working with a project team – part-time or otherwise – including short guidance on training and line management responsibilities. The principles are also empowering to the project management team because they can give them added confidence and an ability to shape and manage their projects. Apart from Project Management Professional (PMP)® , PRINCE2 ® ( PRojects IN Controlled Environments) is one of the most widely used methods for managing projects across the globe . It is a very methodical way of managing projects based on experience drawn from various projects and from the contributions of numerous people who worked using PRINCE2 , such as project sponsors, project managers, project teams, academics, trainers and consultants. For example, one element of PRINCE2 that is routinely tailored is the schedule for project board meetings. Such meetings are not a requirement of the PRINCE2 methodology; regular highlight reports are considered sufficient. In many organizations, however, regular meetings are part of the corporate culture. They can be accommodated by PRINCE2, thanks to the tailoring principle.

Changes detrimental to the business case are often linked to the economy; for example, in 2008 the credit crunch led to many major building projects being brought to a halt. Applies to compulsory projects As of 1 January 2020, AXELOS has renamed PRINCE2® 2017 (the most recent updates to the PRINCE2 certification) to PRINCE2 6th Edition. This name change is not an update in itself — PRINCE2 6th Edition is a rebrand and doesn’t come with any changes to the PRINCE2 2017 course material or exams. Rather it has been changed to reflect the legacy, heritage and authority of PRINCE2 best practice, and to ensure the format of the name is aligned with that used by other frameworks within the project management industry. No, they will remain the same as PRINCE2 2017. There won’t be a change to the exams or syllabus until PRINCE2 7th Edition, which has not been scheduled for release, or even announced, as of February 2020. One of the key takeaways from the guide is that the ideal working relationship between project board and project manager is a perfectly balanced 50/50 split; where the project board directs effectively and the project manager delivers projects to timescale and budget.This process covers these activities, together with the on-going work of risk management and change control. Managing Product Delivery

The Government Functional Project Delivery Standard sets out expectations for the direction and management of all government portfolios, programmes and projects. These principles have also been proven in practice over many years to be the most effective ways of managing projects i.e. they are based upon modern best practices in project management. This means they can be applied directly on projects and the project management team does not need to "re-invent the wheel" by creating their own project management method from scratch. Empowering Getting Things Done (David Allen) – A popular book on maximising your productivity and setting priorities even when plans are interrupted. A helpful lesson to anybody of mastering the art of relaxation while increasing productivity.give an assur ance to the project board that all products produced in the stage plan for the current management stage are developed by the team and approved