PRINCE2® management stages: providing stakeholder control
In this episode of the Knowledge Train, Simon Buehring explains the 'manage by stages' principle within the PRINCE2 methodology. He explains how breaking a project into manageable stages rather than just technical phases ensures better control and informed decision-making. Each stage acts as an essential governance checkpoint, prioritising informed progression and risk assessment over mere task completion.
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Transcript
Welcome aboard the Knowledge Train. In this podcast we explore insights and tips to help you manage your way to success in your career and business. I’m Simon Buehring, your conductor on this journey to knowledge, and I’m thrilled to have you with us today.
Are you ready to unravel the secrets of structured project management? Today, we’re peering into the heart of PRINCE2, unpacking the ‘manage by stages’ principle to reveal why breaking your project into stages could be a game-changer for your project’s success. Grab your notebook, because this is one episode you won’t want to miss.
The ‘manage by stages’ principle is one of the seven bedrock principles of PRINCE2, a methodology that depends on these principles as its foundation stones. Without adherence to this principle, a project simply isn’t flying the PRINCE2 flag. But why is this principle so critical? It’s all about controlling a project through manageable chunks, ensuring decisions are well-informed and risks are monitored closely. Remember, a PRINCE2 project is one that respects these guiding tenets, and knowledge of these principles can be gained through various PRINCE2 courses, whether they be in a classroom or online.
Understanding the distinction between ‘stages’ and ‘phases’ is key in PRINCE2. Stages are not to be mixed up with the technical phases like analysis or testing. They serve as pivotal decision points, questioning at each juncture whether a project should proceed or come to a halt. While a technical phase might be dictated by the work itself, a PRINCE2 stage is shaped by the project’s decision-makers and the associated risks. It’s more about governance than the nitty-gritty of project work.
Every journey starts with a single step, and in PRINCE2, that step is the initiation stage. At this point, the project manager isn’t just tossing a coin to decide the project’s fate; they are carefully crafting a project plan, a comprehensive business case, and essential management strategies. All these components come together under one roof, known as the Project Initiation Documentation or PID. The PID isn’t just an exercise in paperwork; it’s the blueprint for your project’s future.
As one might meticulously plan a train route, the project manager must lay down the track for the next PRINCE2 stage. The next stage plan is not only a detailed work schedule but also outlines the timeline, budget, expected deliverables, and required resources. The project board takes this, alongside the PID, to make an informed decision: to green-light the next stage or to draw the project to a close, ensuring investments are worthwhile and minimising wasted efforts.
Think of each management stage end as a decision gate: a checkpoint where the project’s future is deliberated. Will the next stage be approved, or is it more prudent to conserve resources and end the project? This approach spreads the investment decisions across the project life cycle, allowing for more risk-averse and sound judgment calls, as opposed to making a single, and potentially risky, upfront commitment.
The length of each PRINCE2 stage isn’t set in stone; it’s influenced by an array of factors. High-risk projects necessitate shorter stages for more frequent decision points. The planning horizon limits stages to a realistic foresight, as predicting too far ahead invites the probability of plans going awry. The availability of the project board and aligning with organisational or program timelines also play critical roles in determining the timing and duration of each stage.
For a visual companion to this discussion, a PDF delineating the PRINCE2 project lifecycle is available for download. It illustrates how various processes integrate within each management stage, providing a clear and structured view of the project’s progression.
Today on the Knowledge Train, we’ve dissected the ‘manage by stages’ principle of PRINCE2, exploring how it creates a structured framework for project management, allowing for informed decision-making and risk management. From the vital first steps during the initiation stage to the continual assessment at each decision gate, PRINCE2 stages guide project managers and their teams toward success, one well-planned stage at a time.
Thank you for joining us on the Knowledge Train as we explored the intricacies of PRINCE2 stages. Don’t forget to subscribe for more insight-packed episodes, and swing by the Knowledge Train website for resources galore. Until the next episode, keep learning, keep managing, and I’ll see you further down the track. Goodbye!