One of the most important things project managers are worried about is project failure. According to the latest reports of Project management certification, most of the project fails due to late decision-making. So, to increase the success rate of the project, speeding up decision-making power is necessary.
PRINCE 2 is the certification course that contains all the knowledge and training that a project manager should have. Doing this certification course mainly helps the manager, team, and organization to complete the assigned project successfully.
PRINCE 2 certification training has different ways that guide you and finds solutions about how to speed up the decision-making. Let’s see how PRINCE2 helps in decision making?
If it takes hours in making a decision, then you and your team need to decentralize the decision and takes the steps that require less time without costing any value. For example, cut off too many meetings.
Project management is the process that contains the best methods to manage and control work in every effective manner at every stage of the project. But the project managers leading the management should have all the potential to work on the project with ease.
PRINCE2 – Decision Making
Mainly, the key feature of PRINCE2 is to focus on the justification of the business, defining the main idea and structure of the project management team, and to use the product-based approaches. Now there are various processes, principles, and methodologies of PRINCE2 that helps in decision-making. With Prince 2 certification there are 99% chances to make your project successful by making decision effectively.
Now, talking about the principles of PRINCE2, one of the principles described by PRINCE2 is tolerance. It defines for every project objective that establishes the limit of delegated authority. Let’s see a few important principles of PRINCE2 in detail.
Principles of PRINCE2 in decision latency
Tolerance helps in handling the way of the decision taken by the manager, management, or an organization. In the way the decisions are taken, the tolerance is applied or agreed on the given plan accordingly. Tolerance is a permissible deviation applied above or below the project for examining the time or cost without taking the project to the next level.
According to the situation and the cost of the project, tolerance is applied at the project and stage level and can also be implemented at a level of an individual work package.
- Manage by stages and expectations
If we combine the levels of tolerance with stage management, an increase in the speed of the decision-making is seen. Breaking down the project into the various management stages will form go or no-go decision-making points. If the project still seems to make sense then go further or end the project.
Now talking about the project expectations, the project manager needs to give day-to-day responses to the senior management. The expectation delegates the inclusion of tolerance. If the planning of the project exceeds tolerance, an exception is to be escalated for a decision.
- Define roles and focus on products
Every responsibility should be handled by the project manager to maintain the correct decision-making. This helps to avoid the passing of unnecessary bucks. To achieve the desired outcomes, the right outcomes must be delivered by the project. Usually, the planning focus on the products to meet the needs of the project in decision-making.
Another point to keep in mind for successful decision-making is to reduce the fewer meetings. Reducing the project board meetings includes the basic principle of manage by stages. By the management stage basis, the planning, monitoring, and control of the project on the management stage are done by PRINCE2 certification.
The need for the project board meeting is very clear. The meeting will only take place between the two stages or the parties when the important decision is to be made related to the project. But avoid maximum meetings to save time and to work on more decision-making.
PRINCE2 processes on decision-making
Mainly the processes of the PRINCE2 are all about describing the 4 questions. It includes:
- What type of decisions are required?
- Who takes the decision?
- When decisions are taken?
- What kind of decisions support the management product?
The PRINCE2 processes are applied within the methodologies that are equated to the process guide from the PMBOK guide book of PRINCE2 project management.
Now, talking about the processes, it includes:
- Startup of the project
The first step towards the decision-making should be about deciding on the project. It is very necessary to decide whether the starting idea of the project is good or not. To answer and to make a decision accordingly, it requires when, why, how, and what questions. This is equated from the PMBOK guide of the project management that also includes PRINCE2 certification.
- The direction of the project
The project boards are managed by expectations and the one receiving all the regular reports is necessary. This is because it approves all the major plans and commitments of the resources. It has the authorization of the project, its management stages, and the closure of the project with perfect decision latency.
- Initiating and controlling of the project
For the firm foundation and planning of the project, taking the right decision is important for the management and control of the project. As described in the PMBOK guide of PRINCE2, a project initiation document for the project board approval is essential.
The controlling of the project includes managing the risks and issues day by day, check the work done by assigned teams. If work done is not as expected, a certain decision should be made for the correction in the project. The project manager should report progress to the project board at regular intervals and should take correct actions and decisions if needed.
Now, if we see about the Agile featuring its framework in decision making, it works within certain boundaries set by the project executive or sponsor. With the tolerance boundaries in Agile, the teamwork would be unsafe with the lack of focus and insufficient progress or project failure results.
Thus, setting the transparent boundaries allows the manager to make their own decisions without escalating to the project board.
Hence, this was all about how PRINCE2 helps the project manager and management in decision latency to make the working project more effective.