Archive for July, 2011

Practical PRINCE2 Risk and Issue Management Explained

Practical PRINCE2 Risk Management

Many of the Big 5 IT Consultancies consider risk and issue management to be one of the most important project control processes necessary to maximise a projects chances of success. The reasons for this are easy to understand. Properly implemented risk and issue management constantly identifies / resolves and mitigates risk and issues throughout a Project Lifecycle (removing the barriers to delivery).

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Before we explain how to set-up risk and issue management on your project, let’s start with the basics:-

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Foundation, Practitioner & Professional
High Pass Rates, Low Class Numbers
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From £700








Categories: PRINCE2

What is a PRINCE2 Issue?

PRINCE2 Issue Management

A Project Issue is a problem which has actually occurred and either has a positive or negative effect on a projects chances of achieving its objectives.

PRINCE2 furhter divides issues into 3 groups:-

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Categories: PRINCE2

What is a PRINCE2 Risk?

PRINCE2 risk

A risk is an uncertain event or set of events that should they occur will have a material effect on the achievement of the project’s objectives (Time, Quality, Cost, Scope, Benefits)

PRINCE2 goes further with this definition because it sees risk as having a positive and a negative effect:-

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Categories: PRINCE2

Tailoring PRINCE2 Processes

Tailoring PRINCE2 is Easy

To be able to say that you are running your project according to PRINCE2 you need to be adhering to the seven PRINCE2 principles in some way. These principles are:

  • Continued Business Justification – making sure you have sound business reasons for starting and continuing with your project.

  • Learn from Experience – making sure that the organisation learns from its collective experience.

  • Defined Roles and Responsibilities – those involved in directing and managing the project clearly understand the extent of their responsibility and accountabilities

  • Manage by Stages – breaking the project down into manageable chunks.

  • Manage by Exception – saving senior management time by giving the project manager the authority to independently manage each stage unless an exception situation occurs.

  • Focus on Products – focusing on the project outputs / deliverables (and the required quality of those outputs) rather than focusing on activities.

  • Tailor to Suit the Project Environment – ensuring that the amount of process is appropriate for the project’s size and complexity

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Categories: PRINCE2
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