Benefits of PRINCE2
Importance or benefits of PRINCE2®
Before we discuss the benefits of PRINCE2®, let’s describe what PRINCE2® is. PRINCE2® is an acronym that stands for PRojects IN Controlled Environments. The highly-rated UK government developed it in the early 1980s. PRINCE2® evolved to become a household name in managing projects. In fact, it has been adopted by over 150 countries globally (Nigeria inclusive). Hence, around the world, over 1 million people hold the qualification. PRINCE2® is owned and coordinated by AXELOS.
Want to know more about PRINCE2®? Visit our ‘what is PRINCE2′ page.
Different categories of people or entities opt for PRINCE2® for varied reasons. Individuals opt for it for two major reasons. Firstly, gaining the certification to validate their knowledge. Also, being equipped with PRINCE2® knowledge in order to do things better.
Similarly, organizations’ business with PRINCE2® border on two things. First is; adopting PRINCE2® as a framework for managing projects for better project success. Secondly, training their staff on the PRINCE2® for better productivity.
The benefits of PRINCE2® in terms of benefits to individuals, as well as, benefits to an organization as seen below:
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Importance or Benefits of PRINCE2 to individuals
Reasons why individuals should take PRINCE2® qualification or certification abound, a few of them are covered below:
Increased employment prospects
The business environment is increasingly dynamic. As a result, the need arises for projects to accommodate the pace of change and to keep satisfying stakeholders. More than ever before, more projects have strung up. This is a great news for professionals who are ready for the opportunities this unprecedented pace of change presents. People with requisite know-how of delivering projects are more in demand, than ever.
Having a renowned qualification like PRINCE2® makes you employable in different countries around the world. This is because, it is in more than 150 countries around the world.
It is a framework that apply to projects of different sizes, scopes, risks, industries. As a result, PRINCE2® makes you employable in organizations of varied sizes, across different industries.
If in doubt of the job opportunities presented by having a qualification in project management, visit job recruitment websites and it will amaze you how many vacancies require you to have project management skill.
Improved earning potential
Furthermore, PRINCE2® qualification is a signifier of professionalism and project management proficiency. The knowledge of the PRINCE2® methodology enhances your understanding of leading successful projects using a tried and tested methodology.
The demonstration of these unique hard-to-find qualities to employers (or would-be employers) will help increase your bargaining power as a professional, as well as, how much your employer pays you (or would-be employers). Going through recruitment websites will give you a reasonable idea of how much you can earn by getting qualified in PRINCE2.
Among survey respondents to AXELOS Earning Power Salary Survey, PRINCE2-certified professionals are believed to earn an average of 23% higher than their peers without the PRINCE2® certification.
Understanding the PRINCE2® methodology helps you to speak and communicate using the one of the world’s most popular project management language. Due to this, working with others becomes fun and helps achieve better results individually.
Improved self-efficacy and delivery confidence
The knowledge of PRINCE2® helps you to deliver better result, as you are more aware of your actions. Also, knowledge of PRINCE2® enhances your confidence in delivering results, as nothing else gives confidence as knowledge.
Continual professional development
Upon certification in PRINCE2®, PRINCE2® practitioner certification holders need to continually develop themselves. As such, PRINCE2® ensures that you keep tab of the latest development.
No experience required
Unlike other project management qualifications like PMP, PRINCE2® does not require you to have any experience before opting for the course. I guess the only requirement is the willingness to learn.
Importance or Benefits of PRINCE2 to Organizations
The following are the advantages or benefits of PRINCE2® to organizations:
Are you wondering how PRINCE2® helps to reduce cost? Yes, it does. PRINCE2® helps to deliver project in a methodical way. As a result, it helps to deliver projects within budget.
These days, organizations’ revenues are largely dependent upon their successful delivery of projects. Tech-oriented organizations like Microsoft, Facebook, Apple, etc., have been able to rise to such a lofty height in a short space of time, as they have been able to continually lunch new products or services through the successful delivery of projects.
The need for a methodical way of carrying out a project has never been in such a dire need as now. As a result, adopting the PRINCE2® methodology within an organization, as well as training the organization’s staff on the PRINCE2® methodology satisfies this need
Increased staff productivity
Without knowledge, people perish! Knowledge is power. With PRINCE2®, employees achieves more within a short space of time.
Mark of quality
Globally, serious-minded notable organizations adopt PRINCE2® (multinationals, conglomerates, listed companies, NGOs, private companies, government departments and agency, etc.). Therefore, adopting it signifies you are ready to play in the league of the ‘serious’ and ‘dine in the table of men’.
A critical success factor within any organization is effective communication. Certainly, when employees understand the PRINCE2® methodology, they are on the same wavelength on what to do. Improved communication brought about by PRINCE2® fosters cohesion and unity of team members, as well as, departments.
Emphasis on continual project justification
In the PRINCE2® methodology, continual justification is an important factor. This helps to cut profit-consuming practices and helps to bring about re-alignment with the business’ objectives. Therefore, it encourages accountability because decisions require justification.
Learning and forward-thinking
PRINCE2® emphasizes how important it is to learn from experience. Most importantly, adopting the PRINCE2® will help an organization avoid making a mistake more than once.
PRINCE2® methodology is generic in nature. Therefore, it is applicable projects of varied sizes, scopes, risks, etc., in any given industry.
Optimized customer experience and customer retention
Gaining the loyalty of customers by an organization is not an easy task. Most projects embarked upon by organizations are to optimize customer experience and customer retention. Consequently, the adoption of the PRINCE2® methodology by an organization offers successful delivery. This will help to achieve optimized customer experience and customer retention.
Better business performance
Adopting PRINCE2® within an organization helps to improve business performance by doing things in a methodical way in tandem with global best practices. Improved business performance leads to improved value creation for the shareholders.
From the aforementioned benefits of taking PRINCE2® for both individuals and organizations, it can be concluded that it is no longer a question of why opt for PRINCE2®, but rather a question of how soon you want to get started. If you ask me, I will say the time time to get started is now, as you can not afford to continue depriving yourself of the benefits of PRINCE2®, be you an individual or an organization.
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At Harrybaker we’re determined to ensure learners pass the PRINCE2 exam at the first sitting. My only question is, will it be you?