The flexibility and relevance of the PRINCE2® methodology to such a large variety of industries and project types means it has many benefits for businesses. PRINCE2® ensures all employees are working towards the same objectives. This generates consensus and solidarity between team members, who adopt a common language and terminology, making certain that everyone is aware of their role and what they are accountable for. PRINCE2® also prioritizes completing projects on time and within budget, which is highly valuable for businesses as this can maximize profit. Additionally, PRINCE2® embeds the significance of being prepared for any complications that may arise, and the delivery of quality.
Further benefits of PRINCE2® for businesses include:
- Implement a consistent, clear approach to project management
- Gain full control over all stages of the project, from initiation to completion
- Ensure that projects have a strong and continuous business case/justification, as this assists in reducing profit-absorbing processes and emphasizes project goals
- Improve organizational capability across all areas of business
- Improve communication by using a common project management language
- Foster a culture of continuous improvement by learning from previous projects
- PRINCE2® does not require additional software to function
- PRINCE2® is a logical, consistent project management approach
- Identify risks via Risk Management
- Frequent reviews of the project to analyze progression and specify resource application