00:00:00 - Hi, I'm Steve Caseley
from CBT Nuggets.
00:00:02 - And welcome to this Nugget.
00:00:04 - Kicking off our PRINCE2 examine
prep series, this
00:00:08 - Nugget is going to give you
an overview of PRINCE2.
00:00:11 - And this entire Nugget
is focused on
00:00:14 - the Foundation Exam.
00:00:16 - There are two exams PRINCE2.
00:00:19 - There is the Foundation
Exam, as I said, the
00:00:21 - focus of this Nugget.
00:00:22 - And there is a Practitioner
Exam, which is the advanced
00:00:26 - level PRINCE2 certification.
00:00:29 - This Nugget is going to review
what PRINCE2 is, kick off our
00:00:34 - exam prep series, and prepare
you for the material that is
00:00:37 - going to be covered in the rest
of the series focused on
00:00:40 - preparing you for getting ready
to and passing your
00:00:44 - Foundation Exam and becoming
00:00:49 - So to kick off, I'm going to
give you a brief overview of
00:00:51 - what PRINCE2 is.
00:00:53 - I'm assuming, and I hope I'm not
assuming too, too boldly
00:00:57 - here, that you probably have
an understanding of what
00:01:00 - PRINCE2 is to have purchased
and began to
00:01:02 - use this Nugget series.
00:01:04 - But in case that you have picked
up this particular
00:01:08 - series as part of our overall
corporate subscription, and
00:01:11 - were intrigued by this
term PRINCE2, it
00:01:15 - is not a music video.
00:01:16 - It is not a video on
how to become a
00:01:18 - music star, as in Prince.
00:01:20 - But it is a overview of a
project management project
00:01:25 - delivery methodology to ensure
that we can successfully
00:01:29 - deliver projects on time
and on budget.
00:01:32 - PRINCE2 is a registered
00:01:36 - as evidenced by this.
00:01:37 - And the trademark is owned by
the Office of the Government
00:01:40 - of Commerce, most commonly
called the OGC.
00:01:45 - And if you say, I don't know of
an Office of the Government
00:01:47 - of Commerce in my
00:01:50 - It is the British Office of the
Government of Commerce.
00:01:55 - The Brits were the ones who
developed PRINCE2 originally.
00:01:59 - But PRINCE2 is far more than
just a pure British project
00:02:04 - management approach.
00:02:05 - As you can tell from
my lack of British
00:02:07 - accent, I am not a Brit.
00:02:09 - I'm a Canadian.
00:02:11 - So I'm close to being a Brit,
but PRINCE2 is a universally
00:02:15 - accepted project management
00:02:18 - And the PRINCE2 certification
that we're working on through
00:02:22 - this series, again, is a
universally accepted project
00:02:26 - management certification.
00:02:28 - Recognizing that the government
is not in the
00:02:31 - business of making money,
delivering best practices,
00:02:36 - PRINCE2 is available in
the public domain.
00:02:39 - So if you are an organization
interested in adopting a
00:02:43 - project management best
practice, PRINCE2 is one then
00:02:47 - you can easily adoption and
accept into your organization
00:02:51 - without royalties and worrying
about all of the aspects of
00:02:56 - picking up a proprietary
00:02:59 - PRINCE2 is made available to the
general public through the
00:03:03 - Office of the Government
00:03:05 - And you can use it freely
in your organization.
00:03:09 - The current release that we're
reviewing in this Nugget
00:03:11 - series was developed in 2009.
00:03:15 - Now you may say, oh, that
sounds a little old.
00:03:18 - Is it about to be refreshed?
00:03:20 - There are no current
plans published for
00:03:23 - the refresh of PRINCE2.
00:03:25 - But as soon as the OGC refreshes
PRINCE2, we add CBT
00:03:31 - Nuggets will update
00:03:33 - So again, while this series is
active, you can rest assured
00:03:36 - that you're working towards
the current release of
00:03:39 - PRINCE2, and safely go through
the rest of the series and
00:03:43 - prepare for and, again, take
and pass your exam.
00:03:46 - As I said in my introduction,
there are two certifications.
00:03:50 - This Nugget is focused on the
00:03:52 - which is the certification
achieved by most individuals
00:03:56 - interested in being
00:03:59 - But there's also a Practitioner
00:04:03 - This Nugget series is going to
be focused exclusively on the
00:04:06 - Foundation with the exception
that in the next series where
00:04:09 - I'm outlining the style and
format and approach to the two
00:04:13 - exams, my focus again will
be on the Foundation.
00:04:16 - But I will outline the
Practitioner Exam as well, so
00:04:21 - that you can get a bit of an
understanding of what the
00:04:23 - practitioner exam is should you
get your Foundation and
00:04:27 - then decide you want to go
on to get your next level
00:04:29 - certification.
00:04:31 - So that's the overview
00:04:34 - So with that ownership and
trademark and public domain
00:04:37 - aspect of PRINCE2 out of the
way, let's roll up our sleeves
00:04:40 - and really understand
what PRINCE2 is.
00:04:43 - And in this Nugget we're going
to focus primarily on PRINCE2,
00:04:47 - which is the project management
00:04:49 - project management approach
00:04:52 - But I'm also going to spend just
a few moments at the tail
00:04:54 - end of this Nugget describing
what a project is.
00:04:59 - It's one thing to say, we're
going to focus on PRINCE2,
00:05:03 - which is what we're
going to focus on.
00:05:05 - But PRINCE2 is a project
management delivery approach.
00:05:12 - So therefore, I think it's
important that we also provide
00:05:14 - the foundation of what a project
is to help put the
00:05:18 - usage of and the application of
00:05:20 - PRINCE2 into better context.
00:05:23 - And first, as I said, is let's
figure out exactly what
00:05:27 - PRINCE2 is.
00:05:28 - And where did this funny
name come from, PRINCE?
00:05:32 - Again, you probably have an
understanding of where the
00:05:33 - name came from.
00:05:34 - But again, just in case, PRINCE
stands for Projects,
00:05:39 - PR, In, the I-N, a Controlled,
the C, and Environment, the E.
00:05:47 - So PRINCE2, or PRINCE itself,
stands for Projects In a
00:05:53 - Controlled Environment.
00:05:54 - 2, is simply this is the second
major release of the
00:06:01 - Projects In a Controlled
00:06:04 - When we get a new release
00:06:06 - will it become PRINCE3?
00:06:08 - I don't know.
00:06:10 - I'm going to say highly
unlikely, because PRINCE2 is
00:06:14 - in its second edition.
00:06:16 - And therefore, there's as strong
a likelihood that the
00:06:20 - next release, the next update,
will remain at PRINCE2.
00:06:24 - Or if it's a very significant
00:06:27 - we may move to PRINCE3.
00:06:29 - But if I were a betting man, and
I'm not, I would say we'll
00:06:32 - probably stay at PRINCE2 simply
because it does have
00:06:35 - universal recognition.
00:06:38 - And therefore, why break a good
trademark name that has
00:06:43 - good recognition?
00:06:44 - But whether it's PRINCE2,
PRINCE3, our focus is on
00:06:47 - Projects In a Controlled
00:06:52 - And it's probably worth
00:06:54 - I can't guarantee you there's
going to be a question on your
00:06:57 - exam that says, what
does PRINCE2 mean?
00:07:00 - But let's face it.
00:07:01 - It's an exam validating your
understanding, so it's
00:07:04 - probably a good idea.
00:07:06 - But what's going in your exam
guaranteed are questions
00:07:10 - around what PRINCE2
is all about.
00:07:13 - And PRINCE2 is focused on
specific processes, specific
00:07:19 - principles, specific themes,
and specific deliverables.
00:07:25 - And in the rest of this Nugget
series, I'm going to overview
00:07:29 - the PRINCE2 processes, the
PRINCE2 principles, the
00:07:32 - themes, and the deliverables.
00:07:34 - But you'll recognize, as you
see the details in the
00:07:38 - remainder of this Nugget, we
have individual Nuggets
00:07:41 - outlining what the PRINCE2
processes are and the
00:07:45 - principles and the themes
and the deliverables.
00:07:47 - So if in this overview, you find
I'm going at 50,000 feet
00:07:52 - and going at this at a whirlwind
pace, there's a
00:07:55 - reason for that.
00:07:57 - Because we're going to review
this all in much more detail
00:08:01 - later in this series.
00:08:09 - But before we get into the
details, I want to take just a
00:08:11 - moment and point you to the
PRINCE2 official website.
00:08:15 - And that the name is not just
00:08:21 - It is
00:08:26 - If you search on the prince.com
you will come to a
00:08:30 - commercial site that is licensed
from the OGC to be a
00:08:36 - PRINCE2 site.
00:08:37 - But the official government
site is the
00:08:40 - prince-officialsite.
00:08:42 - And I will leave it to you at
your own discretion and your
00:08:46 - own time to review the
information available in this
00:08:49 - PRINCE2 site.
00:08:50 - But you can see all of the
details needed to better
00:08:53 - understand what the Office of
the Controller is all about
00:09:00 - and where you will get
00:09:04 - Another key point of interest
is the Office of the
00:09:08 - Government Controller is
focused on and not just
00:09:12 - PRINCE2, which is where we
are, but also a number of
00:09:16 - other certifications
00:09:18 - Probably one of the most common
that you would have
00:09:20 - heard of it's the ITIL.
00:09:22 - But there's also MSP, which is
Management of Programs and a
00:09:27 - number of other certifications
that, again, you can peruse
00:09:31 - and view at your own time.
00:09:33 - Our focus is on PRINCE2.
00:09:36 - And again, I just wanted to
point to this particular
00:09:39 - website, because it is a little
bit harder to find.
00:09:42 - Now it's not that hard to find
with a good web search.
00:09:45 - But I just wanted to point out
that the official site, I'm
00:09:49 - going to at least in my humble
opinion suggest, has a
00:09:51 - somewhat obscure URL.
00:09:56 - And we're going to start off
our detailed review at the
00:09:58 - overview level with the
00:10:02 - And I often think of, or at
least I typically refer to,
00:10:05 - the processes as the life cycle,
the steps we take as
00:10:12 - PMs to manage the project.
00:10:21 - PRINCE2, the official
00:10:23 - is these are processes.
00:10:26 - But this is, again, I think as
you look at these, what we do
00:10:31 - as project managers day in, day
out to manage your project
00:10:35 - and keep our project on track.
00:10:36 - This is where we do
all of our work.
00:10:39 - And we start off with Directing
a Project, and its
00:10:43 - acronym is DP.
00:10:46 - I would suggest you
need to memorize
00:10:49 - all of these processes.
00:10:51 - And you also memorize the
00:10:56 - In a PRINCE2 illiterate
environment, it's very common
00:11:01 - that you don't say, I'm about
to initiate or I'm about to
00:11:05 - Direct a Project.
00:11:06 - You simply say, we're about to
activate the DP on our project
00:11:11 - or today my focus is on MP.
00:11:15 - So again, I tend to not like
to use shop talk and jargon
00:11:22 - and that kind of stuff.
00:11:24 - Because to the new uninitiated
it can be a challenge to
00:11:28 - understand what CS is.
00:11:29 - And they're always scurrying
back and making notes and
00:11:31 - saying, I wonder what Steve
was talking about
00:11:33 - when he said, CS.
00:11:34 - But these are very commonly
accepted acronyms for PRINCE2.
00:11:39 - So again, I would suggest that
you spend just the few minutes
00:11:42 - of time necessary to get
these things memorized.
00:11:46 - So Directing a Project, DP.
00:11:49 - This is not so much a project
management activity as senior
00:11:53 - management.
00:11:56 - Senior management's focus is
on directing your project.
00:12:00 - And that's where they validate
00:12:03 - That's where they give us
approval to go ahead.
00:12:06 - That's where they check in at
various checkpoints throughout
00:12:09 - the project and validate that
the project is on the right
00:12:13 - track, and they want to continue
to support the
00:12:16 - project, and they want to
continue to approve our
00:12:19 - project to go ahead
to the next stage.
00:12:22 - Where our work really starts on
a project is at Starting Up
00:12:27 - a Project or SP.
00:12:30 - And this is a very
00:12:34 - and Steve often refers to this
is the validation of the
00:12:37 - eureka moment.
00:12:38 - Somebody had a really good idea
that we should initiate a
00:12:43 - project to do x.
00:12:45 - They had it in the shower.
00:12:46 - They had it on the train
on the way to work.
00:12:49 - But they had an idea.
00:12:50 - This is where we do that quick
upfront validation that the
00:12:54 - project makes sense, and get our
senior management's buy in
00:12:59 - that the project should proceed
to the next step,
00:13:02 - which is Initiating the Project
or the acronym is IP.
00:13:07 - And this is where we
set the foundation.
00:13:09 - This is where we define all of
the work, the scope, the cost,
00:13:14 - the schedule for our project.
00:13:16 - So this is where absolutely
00:13:19 - I like to describe this
as the foundation.
00:13:24 - Everything that the project
should do should be identified
00:13:27 - in Initiating the Project.
00:13:30 - And it will be laid out and we
will establish the budget and
00:13:34 - the schedule and the scope and
everything else associated
00:13:37 - with ensuring that we're
delivering the business
00:13:41 - results for which our project
00:13:44 - With Initiating well in hand, we
move into the Controlling,
00:13:48 - or CS, where we monitor and
control the activities to
00:13:54 - ensure that the stage or the
project remain on track and
00:13:59 - that the project is going to
move forward to successful
00:14:02 - conclusion.
00:14:04 - Next, we're going to Manage the
Project Delivery, or MP.
00:14:09 - This is where we ensure that the
team is doing the work is
00:14:14 - required to satisfy the scope.
00:14:18 - I often describe Controlling the
Stage is us, the project
00:14:22 - managers, doing an our thing to
keep the project on budget,
00:14:26 - on scope, on track,
00:14:29 - This is where all
of the project
00:14:31 - management stuff takes place.
00:14:33 - And in Managing Project
Delivery, this is where the
00:14:36 - team, this is where the analysts
and the designers and
00:14:39 - the developers, assuming this
is IT project, are doing the
00:14:43 - work to satisfy the scope.
00:14:45 - So Managing the Project
Delivery, or MP, is all about
00:14:49 - ensuring that the work is done
and ensuring that the work is
00:14:52 - going to satisfy the business
00:14:57 - Not so much the next--
00:14:58 - because these are concurrent
steps that take place
00:15:02 - throughout the entire project,
so this is not just a you do
00:15:05 - this, and you do this,
and you do this.
00:15:08 - There is a degree of sequential
in that the first
00:15:11 - thing you do is Start and the
next thing you do is Initiate.
00:15:14 - But then we move into
Controlling and Managing,
00:15:17 - which is a parallel concurrent
perpetual activity, as is the
00:15:22 - Directing, which is a parallel
concurrent perpetual activity.
00:15:26 - And then we're going to have
stages in our project where we
00:15:30 - complete analysis and we
complete design and we
00:15:33 - complete development.
00:15:34 - So while we're managing and
controlling, we also have to
00:15:38 - be aware of moving towards our
stage boundaries where we
00:15:42 - obtain approval of the work
completed, validate it that
00:15:50 - it's done, and we also plan and
00:15:54 - secure approval to proceed.
00:16:02 - C-U-R-E--
00:16:03 - secure approval to proceed.
00:16:05 - And that's a very key principal
00:16:10 - We always replan and we always
resecure commitment to proceed
00:16:17 - to the next stage.
00:16:18 - We've completed analysis.
00:16:20 - Our work and analysis is done.
00:16:22 - We're going to present
00:16:23 - We're going to go back
to the business case.
00:16:25 - We're going to go back to the
00:16:28 - And we're going to revalidate
that the project makes sense.
00:16:31 - It's sort of a mini Starting
Up of the Project, the
00:16:35 - validation of the
00:16:37 - This is a revalidation
of the eureka moment.
00:16:40 - And then finally, the last thing
we're going to do is CP,
00:16:45 - which is Closing the
Project where we
00:16:47 - gather our lessons learned.
00:16:48 - We harvest our artifacts.
00:16:50 - We do all of the reusable
00:16:52 - We present the results.
00:16:53 - We implement our solution.
00:16:55 - We gain assurance that the
project has satisfied the
00:16:58 - business objectives.
00:16:59 - And it we declare the
project a success.
00:17:03 - We have a great project
00:17:05 - And we prepare our team to move
on to our next successful
00:17:09 - PRINCE2 managed project.
00:17:13 - The next focus of PRINCE2
are PRINCE2 principles.
00:17:18 - What is the guiding principle?
00:17:20 - What is the guiding approach?
00:17:22 - What is the core on
which PRINCE2 is?
00:17:27 - And it, again, is the
00:17:30 - I absolutely believe you need
to memorize and have cast in
00:17:36 - memory the processes, the life
cycle steps, if I can use that
00:17:40 - term that we just reviewed.
00:17:42 - It's a little less critical, I
think, for your PRINCE2 exam
00:17:46 - that you memorize these
00:17:48 - But in the same behalf, there
will absolutely be questions
00:17:52 - on your exam related to
00:17:56 - So again, if you have the seven
principles in mind, I
00:17:59 - think it will absolutely help
you find the best answer, the
00:18:04 - most appropriate answer, to
successfully answer the
00:18:08 - questions and get your
00:18:09 - So again, I'm not saying
00:18:12 - I think it's a good idea.
00:18:13 - But if you have limited capacity
to memory, and let's
00:18:15 - face it, our brains don't have
unlimited capacity, it's more
00:18:19 - important to memorize the
processes than the principles.
00:18:22 - But there will be questions
on the principles.
00:18:27 - But you can answer the principle
questions based on
00:18:30 - an understanding of what these
principles are as opposed to
00:18:34 - the memorization.
00:18:35 - But what are the principles?
00:18:37 - Continued Business
00:18:40 - That's what I just referenced a
moment ago in our process of
00:18:46 - securing the commitment,
managing the stage boundary,
00:18:50 - moving forward, validating that
the business makes sense,
00:18:54 - revalidating the
00:18:57 - So based into, cooked into the
processes, but this is the key
00:19:02 - principle of Continued Business
00:19:06 - You revalidate the
00:19:13 - Not just at every stage boundary
specifically at each
00:19:16 - every state boundary,
but ongoing through
00:19:19 - our project as well.
00:19:20 - We need to learn from
00:19:23 - What worked well?
00:19:25 - What didn't work?
00:19:26 - What should be improved?
00:19:28 - What artifacts can be
00:19:30 - Again, something we
need to consider
00:19:33 - at every stage boundary.
00:19:35 - But absolutely something that we
have to consider on Closing
00:19:39 - the Project to ensure that the
good things on our project are
00:19:44 - repeated and the mistakes, the
challenges are learned from,
00:19:49 - and we improve our processes
and our organization
00:19:52 - appropriately.
00:19:54 - Another key principal, and
I know these are all key
00:19:57 - principles, that's what we're
talking about, but another key
00:19:59 - aspect of PRINCE2 is
well-defined roles and
00:20:04 - responsibilities.
00:20:05 - And we'll review the roles and
responsibilities that PRINCE
00:20:09 - identifies later
in the series.
00:20:11 - But there are absolutely some
very well-defined roles.
00:20:16 - What does the project
00:20:18 - What is the project
00:20:20 - What this the project
00:20:22 - What does the team
do, and so on?
00:20:25 - So to ensure that everyone knows
exactly what they need
00:20:28 - to do, we will have well-defined
00:20:31 - responsibilities as defined,
as supported by, PRINCE.
00:20:37 - Very consistent with our
processes, where we plan and
00:20:42 - initiate the stage, we manage
and execute the stage.
00:20:46 - We Manage the Stage boundary.
00:20:48 - We Manage our project
00:20:51 - We do analysis.
00:20:52 - We get Continued Business
00:20:55 - In our Managing the
Stage boundary, we
00:20:58 - replan our next stage.
00:21:00 - We secure commitment
to the next stage.
00:21:02 - And we proceed into
the next stage.
00:21:06 - Another key focus of PRINCE2
is we manage by exception.
00:21:10 - PRINCE2 is a well-defined
00:21:14 - Projects In a Controlled
00:21:19 - If we're following PRINCE and
we're following the processes
00:21:23 - and the principles of PRINCE,
in theory the project should
00:21:29 - run very well.
00:21:30 - We don't have to worry about
the mechanics and the
00:21:32 - plumbing, because that's what
PRINCE has defined for us.
00:21:35 - And the beauty of not worrying
about the plumbing, the
00:21:40 - details, is it gives us time as
project managers to manage
00:21:44 - by exception, to look for those
problems, to look for
00:21:47 - those risks, to look for those
areas that our project is
00:21:50 - going to have delivery
challenges, and then
00:21:52 - proactively work on them.
00:21:56 - PRINCE2 is focused on products,
ensuring that the
00:22:00 - work the team delivers, that the
team works on, is going to
00:22:04 - satisfy the business
00:22:07 - And finally, and I kind of ran
out the room when I was
00:22:10 - writing my principles down in
preparation, we need to Tailor
00:22:14 - PRINCE to Suit the
00:22:16 - If this is a very large, complex
project, we probably
00:22:20 - need to apply 100% of PRINCE.
00:22:23 - If this is a smaller project in
a well-known area, we can
00:22:28 - Tailor PRINCE down and we can
make it specific to the
00:22:33 - requirements.
00:22:37 - So those are our PRINCE2
00:22:41 - And our next and final, and I'm
going to say, methodology
00:22:45 - concept in PRINCE2 are themes.
00:22:48 - I have four things I wanted to
talk about in this overview.
00:22:52 - I wanted to talk about
00:22:54 - I wanted to talk about
00:22:55 - I wanted to talk about themes.
00:22:57 - And I'm also going to talk
00:23:00 - But I lump the processes, the
principles, and the themes
00:23:04 - into the methodological or the
practice of what PRINCE is.
00:23:10 - And the next detail we're going
to focus on are the
00:23:13 - deliverables, which is really
the outcome, the results, the
00:23:16 - proof that PRINCE is
00:23:20 - But again, our last methodology,
00:23:25 - approach, best practice--
00:23:27 - pick the word that you use,
because I realize in some
00:23:31 - organizations the term
methodology kind of has a
00:23:34 - negative concept.
00:23:35 - But pick the process, the
principal, and the themes as
00:23:40 - being the overarching,
the guiding force
00:23:44 - of what PRINCE is.
00:23:45 - So what are our themes?
00:23:47 - And again, I realize I'm going
through this quickly.
00:23:49 - We're going to review all of
this in more detail throughout
00:23:52 - this Nugget series.
00:23:54 - The key theme, if there's one
reoccurring theme throughout
00:23:58 - PRINCE, is this concept
of the Business Case.
00:24:02 - We don't part a PRINCE project
without a Business Case.
00:24:06 - We don't exit a stage and start
a new stage without
00:24:10 - reviewing, revalidating,
reproving that the Business
00:24:15 - Case makes sense.
00:24:16 - It's that continual
00:24:19 - of the eureka moment.
00:24:21 - And we do that through
the Business Case.
00:24:24 - As we discussed just a moment
ago in terms of the roles and
00:24:27 - responsibilities, a PRINCE theme
is we define a formal
00:24:32 - project Organization.
00:24:34 - We document the roles and
00:24:37 - We tell everyone what we expect
of them in the project,
00:24:40 - where they fit, what they need
to do, who they report to.
00:24:44 - And we define that up front.
00:24:47 - PRINCE2 has a principle
00:24:50 - Well, project management
is all about planning.
00:24:52 - But PRINCE2 recognizes that
planning is a key aspect to
00:24:57 - being successful in
00:24:59 - And we have a theme
00:25:02 - Once we've planned, we
need to manage and
00:25:05 - control to that plan.
00:25:07 - So the next theme is we need to
Manage Progress and we need
00:25:11 - to Control our execution
against the plan.
00:25:16 - That's going to keep us on
track and on budget.
00:25:19 - But in order to ensure that
we're also delivering what it
00:25:22 - is that the business wants,
we also have a
00:25:25 - theme built in Quality.
00:25:28 - Quality is fundamental.
00:25:30 - Quality is number one, to
steal from an old Ford
00:25:34 - commercial from years ago.
00:25:35 - Quality is job number one.
00:25:37 - All project delivery quality
has to be job number one.
00:25:41 - And PRINCE has quality
00:25:45 - Recognizing that we need to be
proactive, we need to be able
00:25:48 - to manage by exceptions.
00:25:49 - We need to ensure that we
understand what nasty, evil,
00:25:54 - bad things are going to come
in and impact our project.
00:25:57 - We have a theme of proactive
Risk Management so we can
00:26:01 - identify risky events early in
our project and if possible
00:26:06 - eliminate them from
the project by
00:26:08 - changing our approach.
00:26:10 - Or worst case, identify that
we need to have some
00:26:12 - contingency and some reserves
in place, so that when these
00:26:16 - evil, bad, nasty unpredictable
things happen, we're not
00:26:20 - caught blindsided and we
have some schedule.
00:26:23 - We have some time.
00:26:24 - We have some money to deal
with risk events as they
00:26:27 - materialize.
00:26:28 - Recognize that no matter how
good a job we do at planning,
00:26:33 - as we're in execution, there's
going to be changes.
00:26:37 - PRINCE2 has built-in concepts
for Change Management.
00:26:42 - And change is accepted
into our project,
00:26:45 - but change is a managed.
00:26:51 - And that's a key concept.
00:26:53 - Change is not a bad thing.
00:26:56 - Change is inevitable.
00:26:57 - But change needs
to be managed.
00:27:00 - And unmanaged change is what
causes projects to run away
00:27:04 - and be delivered four times over
budget and three times
00:27:09 - behind schedule.
00:27:11 - But if we manage change, we can
continue to deliver the
00:27:15 - project successfully
00:27:17 - And our last theme is
00:27:21 - Again, PRINCE has a heavy
software development focus.
00:27:25 - And we need effective
configuration management of
00:27:28 - all of the bits and bobs, all
of the software components,
00:27:31 - all of the deliverables.
00:27:33 - Every component that the project
is going to deliver
00:27:37 - needs to be managed through a
well-defined and rigorous
00:27:42 - configuration management
00:27:45 - So again, those are our three
00:27:50 - approaches for PRINCE.
00:27:53 - We have the processes,
we have the
00:27:55 - principles, and the themes.
00:27:57 - Next, we're going to look
at the deliverables,
00:27:59 - which is our output.
00:28:02 - And PRINCE, no surprise, has
identified deliverables that
00:28:06 - they expect project management
00:28:12 - These are the project management
00:28:15 - These are not the analysis
report and the data dictionary
00:28:18 - and the data model and the
data flow diagrams.
00:28:21 - These are project management
00:28:24 - PRINCE has identified, or I'm
going to review in this Nugget
00:28:28 - series, 15 specific PRINCE2
00:28:34 - I haven't listed them all here,
because we're going to
00:28:37 - review these in detail through
the Nugget series in the
00:28:40 - latter part of the
00:28:42 - But the key deliverables that
I'm going to just quickly
00:28:45 - overview in this overview
is the Business Case.
00:28:49 - Now that shouldn't surprise you,
that the Business Case is
00:28:51 - the front and center core
deliverable from PRINCE2.
00:28:55 - We talked about the Business
Case in our process.
00:28:58 - We talked about the Business
Case in our principles.
00:29:01 - And we talked about the Business
Case in our themes.
00:29:05 - The Business Case is the
foundation of why we're doing
00:29:08 - this project.
00:29:09 - The business has a problem,
they need it solved.
00:29:14 - And for this anticipated
solution, that's going to cost
00:29:19 - $50,000, pounds, whatever the
denomination in your country
00:29:24 - is going to be.
00:29:25 - And it's going to deliver
00:29:27 - So the Business Case is the
00:29:31 - It's the problem.
00:29:33 - And it's the cost benefit
00:29:39 - And as I've said over and over
in this overview, we need to
00:29:44 - go back and continually review
and evaluate and keep that
00:29:49 - Business Case front
00:29:50 - Because that is the foundation
00:29:55 - Other key deliverables, our
End of Stage Report.
00:29:58 - We've completed our stage.
00:30:00 - We're managing our
00:30:03 - Have we achieved what
we wanted to do?
00:30:06 - And it's the update
of the plan.
00:30:09 - And it's the update of
the Business Case.
00:30:11 - And it's the revalidation
of the eureka moment.
00:30:13 - And it's the replanning to make
sure that we're putting
00:30:18 - the project forward with the
current best information that
00:30:22 - we have at hand.
00:30:24 - And this is based on the
principle, the practice, that
00:30:27 - at the beginning of a project,
we probably should have a
00:30:31 - really good understanding
of what we
00:30:32 - need to do in analysis.
00:30:34 - And we have a reasonable
understanding of what we're
00:30:36 - going to do in design.
00:30:37 - And we kind of have a decent
idea of what we're going to do
00:30:41 - in development, and so on.
00:30:43 - By the time we're done analysis,
we should be
00:30:46 - able to redo that.
00:30:47 - By the time we're done analysis,
we should have a
00:30:49 - really, really good idea precise
idea of what we're
00:30:54 - going to do in design.
00:30:55 - And we should have a really good
idea of what we're going
00:30:58 - to do in development.
00:30:59 - And we're going to have a much
clearer idea of what we need
00:31:01 - to do for implementation
and testing and so on.
00:31:04 - So at the end of every stage,
we have new and better
00:31:09 - information.
00:31:12 - And we want to apply that to
ensure our project is going to
00:31:16 - be successful.
00:31:18 - We have an Issue Log.
00:31:20 - These are the things that are
troubling us on the project.
00:31:23 - These are the things
that we need to
00:31:25 - manage and make go away.
00:31:27 - We also have risk logs and
a Risk Management Plan.
00:31:31 - These are the things
we aren't sure of.
00:31:34 - The issues are real.
00:31:35 - The issues are things that are
happening today, and we have
00:31:38 - to deal with today
or our project is
00:31:40 - going to have problems.
00:31:42 - Our risks are things that are
going to happen or may have or
00:31:45 - that concern us, but they're
00:31:49 - At some point in the time, I
think a bad thing called x is
00:31:53 - going to happen in my project.
00:31:55 - And I need to be able to
do something about it.
00:31:58 - Skipped over Project Plan.
00:32:00 - And the reason is I just listed
00:32:04 - Issues and Risks often
00:32:06 - But another key concept
or key deliverable
00:32:10 - is our Project Plan.
00:32:11 - This is the budget.
00:32:12 - This is schedule.
00:32:13 - These are the identification of
the work that needs to be
00:32:17 - done, which leads us to our last
key deliverable, which is
00:32:21 - the actual Work Package.
00:32:23 - These are the units of
work that we need the
00:32:25 - team to work on.
00:32:27 - As I say, this is only six.
00:32:29 - We have 15 in total that we're
going to review in detail
00:32:33 - later in the series.
00:32:34 - We'll review the principle
of what each of the
00:32:36 - deliverables are.
00:32:38 - And we'll present you with a
suggested generic table of
00:32:42 - contents of how each
of these 15
00:32:46 - deliverables will be produced.
00:32:48 - And these sample table of
contents are going to be able
00:32:52 - is available at Nugget Lab for
your download and reuse as
00:32:56 - appropriate in your projects.
00:32:59 - And finally, just to conclude
this overview Nugget, a s
00:33:03 - brief overview of what
a project is.
00:33:05 - And if you Google project or you
do Wikipedia project or if
00:33:11 - you whatever, you're going
to get many, many, many
00:33:15 - definitions of projects.
00:33:17 - So I decided I'm going to try
the opposite approach to that.
00:33:20 - And I'm going to say
a project is not.
00:33:23 - And it's not on going
00:33:26 - So if your organization
manufactures a product, the
00:33:30 - project has nothing to do with
the day to day manufacturing
00:33:35 - of the product, the day to day
shipping of the product, the
00:33:38 - day to day customer service
of the product.
00:33:40 - That's operations.
00:33:41 - That's the stuff that happens
day in, day out to support the
00:33:47 - business of our organization.
00:33:49 - Now we may be taking on a
project to improve the way we
00:33:54 - manufacture our product.
00:33:57 - We may be taking on a project
to improve the
00:33:59 - way we ship our product.
00:34:02 - We may be taking on a project
to do anything within the
00:34:06 - organization.
00:34:07 - But it's to make a change.
00:34:10 - It's to do something new.
00:34:11 - It's to do something
00:34:13 - It's not the day to
day making money,
00:34:23 - delivering the services.
00:34:24 - That's operations.
00:34:25 - And that's not project.
00:34:27 - So I don't know if saying what
is not a project helps.
00:34:32 - But a project is literally
00:34:36 - And again, there's as many
definitions of project as
00:34:38 - probably the number hits you
got in your Google search.
00:34:41 - But I like to summarize,
a project is temporary.
00:34:47 - We're taking on a new project to
improve the way we can ship
00:34:51 - the product.
00:34:53 - So the project didn't
00:34:56 - We've been through
00:34:59 - of the eureka moment.
00:35:00 - We've initiated the project.
00:35:01 - We planned the stage.
00:35:03 - We've gained approval.
00:35:05 - The project now exists.
00:35:07 - So that's where the temporary
00:35:10 - We work on the project.
00:35:11 - We deliver the project.
00:35:12 - We control our stages.
00:35:14 - We close the project.
00:35:17 - And it's temporary.
00:35:18 - It has now finished.
00:35:20 - Temporary does not mean short.
00:35:22 - It could take weeks, months,
even years to achieve all of
00:35:28 - the expectations
of our project.
00:35:30 - But it didn't exist at some
point in time, got approved.
00:35:34 - And at some point in time,
and it could be
00:35:36 - years away, it concluded.
00:35:38 - So that's the temporary part.
00:35:41 - Projects should be unique.
00:35:43 - And that's the key
differentiation from not
00:35:46 - ongoing operations.
00:35:48 - We need to do something new.
00:35:50 - We need to do something
00:35:52 - We need to do something that's
never been done before.
00:35:54 - Because if it's been done
before, we don't
00:35:57 - need to redo it.
00:35:58 - We dust it off the shelf.
00:35:59 - We buy it from another
00:36:02 - But we just simply implement
00:36:06 - So projects are always unique.
00:36:08 - It's to do something that has
never been done before.
00:36:11 - Projects will have a budget
and a schedule.
00:36:15 - The project has $50,000, pounds,
yen, whatever is the
00:36:22 - currency in your organization.
00:36:23 - And the project is going to
take six months, or nine
00:36:26 - months, or 12 months.
00:36:28 - And that, again, feeds into
the temporary aspect.
00:36:32 - We can determine a budget.
00:36:33 - And we can determine
00:36:35 - Because based on our current
plan, if it starts tomorrow,
00:36:39 - it's going to take six months.
00:36:40 - It's going to use these
00:36:42 - And it's going to
00:36:44 - And I'm going to stick
00:36:46 - Being a Canadian, I'll stick
with my native currency.
00:36:49 - But, again, translate that
into the currency of your
00:36:51 - organization or your company
00:36:55 - And I just said, the next aspect
to a project is it
00:36:59 - needs resources.
00:37:00 - Team members need to
be assigned to do
00:37:02 - the work on a project.
00:37:04 - So need a team.
00:37:06 - And we may need equipment.
00:37:10 - And we may need supplies.
00:37:13 - And we may need office
space or team space.
00:37:18 - And we need all of the resources
that are required
00:37:21 - for our project.
00:37:23 - And that's specifically called
out for a project
00:37:26 - because it's temporary.
00:37:27 - Yesterday, none of these
resources existed, per se, as
00:37:31 - a collection of resources
to satisfy the project.
00:37:34 - They were simply resources in
the organization that may have
00:37:38 - been doing other things, that
may have been sitting idle,
00:37:42 - may need to be acquired to
satisfy our project.
00:37:45 - But they're a unique alignment
of resources to get our
00:37:50 - project done.
00:37:51 - And most importantly, and I left
it to the last, because
00:37:53 - it is the most aspect of being
a project, is a project has a
00:37:58 - scope, what it is to solve
the business problem.
00:38:06 - Because projects are taken on to
solve the business problem.
00:38:11 - We validate the problem through
our validation of the
00:38:14 - eureka moment, and
we solve it.
00:38:17 - But that's what a project is.
00:38:18 - And PRINCE2 is a very thorough,
very complete, very
00:38:24 - good process to successfully
manage projects through to
00:38:28 - completion.
00:38:30 - And that concludes our
overview of PRINCE2.
00:38:33 - I hope this has been enough to
whet your appetite that says,
00:38:36 - yes, PRINCE2 is what I want.
00:38:38 - I'm really excited
00:38:40 - I want to finish the series.
00:38:41 - I want to take my
00:38:45 - And I want to become
00:38:47 - So in this Nugget, we talked
about what PRINCE2 is, what
00:38:50 - PRINCE stands for, Projects In
a Controlled Environment.
00:38:54 - And we talked about the
processes, or as Steve likes
00:38:59 - to call it, the life cycle,
where we initiate, we plan, we
00:39:04 - manage, we control.
00:39:07 - We close the stage, we manage
the delivery, and
00:39:11 - we close the project.
00:39:12 - We talked about the principles,
what it is that
00:39:18 - provides the guiding force
of what PRINCE2 is.
00:39:23 - Similar to that, we talked
about that themes, the
00:39:26 - reoccurring themes that happen
00:39:29 - And we talked about the
deliverables that we, the
00:39:34 - project managers, produce to
ensure we're satisfying the
00:39:38 - expectations being PRINCE
00:39:43 - And by doing our PRINCE
deliverables, we're ensuring
00:39:47 - that we're keeping all of our
project stakeholders informed.
00:39:51 - And finally, we did a
very quick review of
00:39:53 - what a project is.
00:39:54 - A project is a temporary
engagement that has a specific
00:39:59 - budget and cost, has assigned
resources, and is there to
00:40:04 - satisfy specific unique
requirements to address a
00:40:09 - known stated business problem.
00:40:13 - This concludes our PRINCE2
00:40:16 - I hope this module has been
informative for you.
00:40:19 - And thank you very
much for viewing.